02 June 2023 00:15, UTC
Reading time: ~2 m
- Injective Protocol achieves milestones with Avalon Mainnet Upgrade.
- Faster block times and PoS validation revamp set to drive demand for INJ.
- INJ price and market capitalization surge, reflecting investor optimism post-upgrade.
In a notable breakthrough, Injective Protocol has completed the Avalon Mainnet Upgrade, marking a substantial milestone in its ongoing evolution. The highly anticipated upgrade ushers in robust scalability optimizations, enhancing the platform’s capability to handle increasing network demands.
The Avalon Mainnet Upgrade is complete to bring you the most performant Injective infrastructure to date ⚔️
⚡️Robust scalability optimizations
⚡️PoS validation revamp
⚡️Fastest block times on mainnet pic.twitter.com/7iB5ULgoJg
— Injective 🥷 (@Injective_) June 1, 2023
This achievement signifies Injective Protocol’s commitment to pushing the boundaries of decentralized finance. The Avalon Mainnet Upgrade introduces improvements that revolutionize the way the network functions and redefines the standards for decentralized exchanges. With the Proof-of-Stake (PoS) validation system receiving a comprehensive revamp, Injective Protocol has proven its dedication to fostering trust and reliability within its ecosystem.
In addition to that, the Avalon upgrade boasts of providing the fastest block times on the Mainnet. This paves the way for quicker transaction speeds, enabling Injective to offer an unprecedented user experience in the DeFi space. Faster block times will significantly reduce latency, contributing to seamless, frictionless trading experiences for users worldwide.
The successful deployment of the Avalon Mainnet Upgrade will likely have far-reaching implications for the INJ market. Enhanced scalability and expedited block times are expected to attract a broader user base, potentially increasing the demand for INJ tokens. The PoS validation revamp could also lead to more excellent stability in the INJ market, as it fosters an environment that encourages long-term token-holding.
INJ/USD Market Analysis
Following the completion of the Avalon Mainnet Upgrade, the negative trend in the Injective (INJ) was neutralized when support was achieved at $6.98. Bulls gained control and drove the INJ price to a 24-hour high of $7.48 before hitting resistance. The INJ price was $7.39 at press time, up 2.73% from the previous close.
The INJ’s market capitalization increased by 2.80% to $592,728,166, while its 24-hour trading volume decreased by 15.59% to $52,777,111. This decrease in trading volume shows that traders have paused to examine current market circumstances before making other movements.
Despite this, Injective’s recent price and market capitalization increase demonstrates an intense optimistic mood among investors.
In conclusion, the successful Avalon Mainnet Upgrade has injected a bullish mood into the INJ market, driving optimism among investors and paving the way for a promising future.
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