Injective surges after latest burn auction and OKX listing

11:41 pm
November 30, 2023

# Injective Token (INJ) Records Significant Surge After Latest Burn Auction and OKX Listing

Injective Token (INJ) has witnessed a substantial surge of almost 10% as it reached an intraday high of $18.24. This surge followed the addition of support for INJ on OKX’s spot markets and a community burn worth over $65,000 of INJ tokens. The price of INJ is now just 28% away from its all-time high of $24.89 reached in April 2021.

# OKX Lists INJ, Burn Auction Continues

OKX announced that it added support for INJ on November 30, enabling deposits for INJ/USDT at 6 am UTC and spot trading at 10 am UTC. Additionally, the community burned $65,000 worth of tokens (3,986.52 INJ), contributing to the weekly burns that have been conducted every Wednesday since the launch of the mainnet in 2021. The weekly burn constitutes 60% of all dApps fees.

The recent surge in the price of INJ followed the latest burn action and the listing of INJ for spot trading by the crypto exchange OKX. The price currently stands at $18.06, and further upside potential could potentially lead to surpassing the all-time high of $24.89 from April 2021, as the price is only 28% away at present.

Injective has experienced an 18% surge over the past week and a 37% increase over the past month. The native token of the layer-1 blockchain has skyrocketed by 940% since hitting new lows a year ago. The trading volume also rose by 56% in the past 24 hours to over $128 million.

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## Categories
– Cryptocurrency

## Tags
– Injective Token
– OKX Listing

### FAQ

#### What is INJ?

INJ is the native token of the Injective Protocol, a layer-2 decentralized exchange protocol that enables users to trade a wide range of assets across different blockchains.

#### What is a burn auction?

A burn auction involves permanently removing cryptocurrency from circulation by sending it to an inaccessible public address, thereby reducing the total supply of the cryptocurrency.

#### What is OKX?

OKX is a cryptocurrency exchange that offers a variety of digital assets for trading, including Bitcoin, Ethereum, and many more. It provides spot trading, futures trading, and other financial services related to cryptocurrency.


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