On January 21, Injective unlocked over 3.67 million tokens worth almost $150 million. Injective token supply totals $100 million, however, only a little over $84 million is in circulation. Hence, this unlocking of more Injective tokens has caused a major shift, attracting volatility. In the meantime, more investors are already switching to Pullix in the wake of a possible price collapse or volatility that may befall Injective token.
Injective (INJ) Aims to Unlock 3.67 Million Tokens By The End of The Month
The price of Injective has been range-bound between $31.00 and $43.51, displaying consolidation as investors navigate a price correction of the Injective token when it realizes its planned token launch.
The token unlock event on January 21, released 3.67 million INJ tokens ($148.72 million), raises concerns of increased supply affecting the market. Although advisors and the team are recipients, potential selling pressure looms. While Injective is still a good crypto to buy, the price may be a bit shaky when the token unlock happens.
According to analysis from technical indicators, the Bollinger Bands of Injective suggest a narrowing range, with support around $38.49. The RSI indicates falling momentum, and the MACD shows a bearish trend, favoring a potential downside. Bears might breach the centerline support, leading to a test of $31.00 for Injective price.
On the optimistic side, heightened buying pressure could propel the INJ price above $42.78, targeting the $43.51 resistance. A breakthrough and closure above this level may trigger a liquidity collection, pushing Injective to a higher high around $45.296, representing a 25% increase from current levels.
Investors Flock to Pullix (PLX) As The Current Presale Stage Concludes
Pullix (PLX) aims to emerge as a prominent DeFi project in 2024, seamlessly integrating elements from both CeFi and DeFi within a unified platform, signaling it as the new best crypto to invest in amongst shrewd investors.
This revolutionary venture enables users to effortlessly engage in buying, selling, and trading a diverse array of assets spanning stocks, forex, ETFs, and commodities.
Offering a host of trading advantages, Pullix stands out with features like margin trading supporting a wide range of assets and an impressive leverage of up to 1000:1. The platform boasts minimal spreads between buying and selling prices, devoid of additional fees.
Users also enjoy complete autonomy over their digital assets and private keys, empowering them to truly own and safeguard their crypto holdings.
At the core of the Pullix DeFi ecosystem is its native virtual currency, PLX, a pivotal element for users navigating the platform. To fortify the stability of PLX, Pullix employs strategic measures, channeling 10% to 30% of the platform’s earnings back into supporting the altcoin. This proactive approach helps mitigate volatility in the market and positions PLX as a good crypto to buy.
Complementing this, Pullix strategically reduces the available supply of PLX tokens over time, gradually enhancing their value and rarity. These innovative tactics contribute to Pullix’s rapid ascent as a leading DeFi project.
Currently rounding up the 6th stage of its presale, Pullix is currently selling for a current price of $0.08 and has amassed a total of $4.5 million throughout its ongoing presale run.
For more information regarding Pullix’s presale see links below:
Meta title: Navigating Crypto Opportunities: Pullix (PLX) Gains Momentum Amidst Injective (INJ)’s $150 Million Token Unlock Event
Meta description: Explore the allure of Pullix (PLX) for investors seeking gains, amid a shifting landscape as Injective (INJ) prepares to unlock tokens worth $150 million. Discover a dynamic investment opportunity with Pullix, where innovative strategies and potential growth beckon in the crypto market.
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