While Ethereum is the queen of decentralized finance, it adds on to the many existing barriers to the DeFi sphere. The bull run of 2021 resulted in phenomenal growth of the cryptocurrency market; however, it also made it clear that Ethereum may not be suited to stay the queen of DeFi. Ethereum’s blockchain suffered from network congestion which resulted in exorbitantly high gas fees on the network. Many DeFi projects have been launched to tackle the problems faced by the queen of the market. Injective Protocol is an advanced DeFi project which aims to remove the barriers to the DeFi market. 

What is Injective Protocol? 

Injective Protocol is essentially a decentralized exchange protocol but what sets it apart is its advanced features like synthetic, forex, futures, cross-chain margin and derivatives trading. While the offering list of the DEX is long, it does not compromise on its functionality at all. Injective Protocol eliminates the barriers to the DeFi market by increasing its accessibility. Injective is a speed and performance focused DEX with zero gas fees. 

The unrivalled performance of the protocol is enabled through the unique architecture Injective employs. It is a Cosmos layer-2 sidechain with optimized connection to Ethereum’s mainchain. The Injective Chain is based on Cosmos’ Tendermint standard which ensures the decentralization of the protocol. Moreover, it also has compatibility with Ethereum Virtual Machine-based decentralized applications. In short, it harnesses the power of both Ethereum and Cosmos. 

Future outlook 

There are various restrictions to the DeFi space placed by governments all over the world. Injective Protocol’s potential lies in the market it is operating. The DeFi sector has been one of the best performing ones in the cryptocurrency market. Injective Protocol enables the DeFi market by offering accessibility to a variety of products to users regardless of their localities. This unique proposition can help INJ reach to new highs. 

At the time of writing, INJ token stands at a price level of $10.65. The cryptocurrency has been has been moving upwards in the weekly timeframe; however, the upside movement appears to have slowed down in the daily timeframe. According to the estimates of Wallet Investor, the cryptocurrency is expected to be operating at a price level of $18.46 in a year’s time. The upward trend of injective Protocol is expected to continue over the years helping it reach towards $51.56 in five years’ time. Digital Coin Price suggests a year-ending price of $15.08 for INJ and a price level of $38.49 by 2026.