injective Price Increases Following Latest Partnership Announcement
INJ, the native token of the Cosmos-based layer 1 blockchain Injective, attracted significant investor interest today, April 18, as the cryptographic initiative took an exciting turn with a new collaboration. In an official statement released today, the layer 1 blockchain announced a strategic merger with Jambo, a Web3 mobile infrastructure aimed at providing web3-based escapes to emerging economies in Africa, Southeast Asia and Latin America.
Following the emergence of this partnership announcement, the INJ token entered a rising price trajectory fueling market optimism in line with the aforementioned collaboration. Let’s take a closer look at Injective’s merger with Jambo and what it brings to the crypto community.
Merger of Injective with Jambo: Report
According to Injective’s latest announcement, the collaboration with Jambo aims to bring blockchain-powered financial solutions to emerging markets in Africa, Southeast Asia and Latin America through the JamboPhone, a smartphone specifically designed for users. With the partnership in place, numerous Injective native dApps, such as Ninji Wallet, will be added to JamboPhones, allowing millions of users to seamlessly access the Injective ecosystem.
Jambo is a mobile phone infrastructure company dedicated to connecting emerging markets to the digital world through user-friendly, affordable technology. The company introduced the JamboPhone, a Web3 Android 13 smartphone that aligns with this vision, and is now offering assistance to Injective’s DeFi initiative.
Simultaneously, INJ’s price increased significantly and the partnership announcement added market optimism to the token.
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INJ Price Increase 15%
As of this writing, the INJ token has increased by 15.36% in the last 24 hours, reaching $28.39. While the token’s market cap increased by 15.36%, its 24-hour trading volume increased by 68.59%, pushing it into the bullish phase.
Coinglass data revealed that the token’s open position increased by a significant 28.29% to $114.78 million, while derivative volume increased by 96.52% to $722.33 million. This underlined a strong market uptrend for Injective and further strengthened the token’s uptrend.
This, combined with the aforementioned partnership announcement, has increased investor enthusiasm for Injective’s cryptographic venture. Crypto market enthusiasts remain optimistic about the token’s price movement in the coming period, attributing it to a possible post-halving rally.
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