Several key events are set to shape the crypto market this week. Here’s a breakdown of the most significant updates and events for altcoins, as highlighted by crypto analyst The DeFi Investor:
#1 INJ – Injective Protocol (Top Crypto Pick)
On November 30, Injective Protocol announced “the largest mainnet upgrade in history”, expected to go live in a few weeks. The team’s confident statement, “The world is not ready,” suggests significant developments.
The update is called “Volan” and is the result of months of development. It aims to optimize network performance and user experience. Precisely, it introduces sub-second block times for faster transactions, Inter-Blockchain Communication protocol (IBC) integration for enhanced interoperability with the Cosmos ecosystem, CosmWasm smart contracts support for diverse application development, EVM compatibility for easier migration from Ethereum, and a governance module to involve INJ token holders in decision-making.
Remarkably, this upgrade is expected to go live in Q4 2023 and will require a hard fork. The upgrade has the potential to generate new hype around the project. Technical analysis shows bullish momentum in INJ price with key resistance and support levels at $21.48 and $17.13 respectively.
