Injective Partnership with NTT Digital: A Boost to DeFi
Injective, a layer-1 Blockchain platform on the Cosmos network, has recently announced a significant partnership with NTT Digital, a subsidiary of the renowned Japanese telecommunications company NTT Docomo. This collaboration aims to enhance Injective's credibility and resources in the Web3 space, ultimately fortifying its position in the Decentralized finance (DeFi) sector.
The involvement of NTT Digital as a validator for Injective is expected to accelerate the platform's expansion and bolster its Security and scalability features. This partnership comes at a crucial time for Injective, especially when its native Token, INJ, is facing a decline in Price.
Overview of Injective & Japan’s NTT Collaboration
Recently, Injective shared the news of NTT Digital officially joining as its latest validator. NTT, being one of the largest Fortune 500 companies globally and a major player in the telecom industry, brings substantial credibility and resources to this partnership. This collaboration solidifies Injective's position in the DeFi ecosystem and provides a strategic advantage in the rapidly evolving Web3 landscape.
NTT Digital's involvement as a validator is poised to accelerate Injective's expansion into new markets and further enhance the security and scalability of its platform. By actively participating in the network's Validation process, NTT Digital will Play a crucial role in ensuring the integrity of transactions within the INJ ecosystem.
Founded in 2018 as part of the Binance Labs Incubation Program, Injective, co-founded by Eric Chen and Albert Chon, offers a decentralized Exchange (DEX) that facilitates the trading of derivatives and futures. With its layer-2 Blockchain infrastructure, Injective provides high speed, scalability, and zero gas fees, making it an attractive choice for DeFi traders. The platform is also Inter-Blockchain Communication (IBC) enabled, enabling the trading of Ethereum assets on Injective’s DEX.
INJ Price To Surge?
The recent partnership with NTT Digital holds the potential to significantly boost Injective's ecosystem. NTT's validation as a reputable player not only enhances Injective's credibility but also signals the increasing interest of large corporations in blockchain Technology. This increased interest could drive INJ Adoption and potentially elevate its price in the Market.
At present, the price of INJ has experienced a slight decline, dropping by 0.91% to $19.78 on a recent trading day with the 24-hour trading volume also decreasing by 8.02% to $91.54 million. While these figures indicate a waning interest in Injective, the partnership with NTT Digital could potentially reverse this trend.
Moreover, there has been a surge in long liquidations for INJ, with reports from Coinglass showing long liquidations worth $340,420 compared to short liquidations at $43,150 in the past 24 hours. This selling pressure might further impact the declining price of INJ. However, the optimistic outlook surrounding the "Uptober" phenomena along with the collaboration with NTT Digital offers hope for a turnaround in the near future.
