Injective (INJ) Surges as Helix Introduces Pre-Launch Futures

Injective (INJ) price experienced a significant increase, reaching a high of $8.20 on Wednesday. This surge can be attributed to the unveiling of Helix, a DEX platform on the layer-1 blockchain network, which introduced its pre-launch futures product, with Celestia (TIA) as the first token to list.

Injective (INJ) has witnessed a positive upturn in its price today, further building upon last week’s upward trends. Although the altcoin’s price has only increased by 3.5% in the past 24 hours, earlier in the day, INJ/USD reached highs of $8.20.

During April of this year, INJ reached a peak price of $9.40, which was followed by a decline due to the overall market slump in the crypto space. In 2021, INJ recorded an all-time high of $24.89.

Helix: Unveiling Pre-Launch Futures

Injective’s price surge was driven by recent network achievements, including integration with the NFT marketplace Dagora and the launch of the InjMarket. The latest milestone is the introduction of Helix, a decentralized exchange (DEX) on the Injective platform, which presented its pre-launch futures product on Wednesday. This feature allows users to trade popular tokens even before their official launch.

In a blog post, the Helix team explained that “Pre-Launch Futures are futures markets for tokens that have yet to launch. Effectively, this enables users to trade pre-launch markets that are typically reserved for early contributors, VCs, or wealthy insiders.” The first token to be listed on the Helix pre-launch futures market is Celestia (TIA), the native token of the modular data network developed by Celestia Labs. The recent completion of the platform’s airdrop might have contributed to the positive sentiment surrounding the Injective market.

TIA is expected to be listed on a major cryptocurrency exchange in the coming weeks and will be utilized for transactional fees. Similar to Ethereum’s EIP-1559, the token also incorporates a fee burn mechanism.