Crypto trader and analyst Ben Armstrong says that an Ethereum-based altcoin has the potential to turn early investors into millionaires.
In a new video, Armstrong tells his 442,000 YouTube subscribers that he watches closely decentralized changes (DEXs) as the industry continues to show signs of rapid growth.
Demand for DEXs is growing exponentially, with DEX trading volume increasing by 70% in mid-2020, reaching an all-time high of $ 1.52 billion.
Armstrong: “Injective Protocol (INJ) stands out”
DEXs allow users to trade tokens between each other in an unauthorized and decentralized manner without the aid of an intermediary. Armstrong says he believes the Injective Protocol (INJ) helps unlock the true potential of decentralized finance (DeFi).
“Injective Protocol, powered by Binance, is a completely decentralized second layer protocol that allows cross-chain derivatives trading. Injective Protocol aims to provide all the features of a central exchange on a DEX with a focus on speed, security, and liquidity. “
Armstrong emphasizes that the protocol is ready to take advantage of the growing demand for DEX, fueled by the interoperability of the platform that enables users to trade a wide variety of crypto assets across multiple blockchains.
“He can walk for $ 100”
As for Injective Protocol’s native token, INJ, the crypto analyst says it serves multiple purposes on the network.
“INJ tokens are staked to receive staking rewards paid in INJ. Staking INJ tokens are also used to participate in voting and governance. You also have to submit offers and vote for them. The more INJ tokens a user holds, the greater his voice in the administration table.
In terms of price potential, Armstrong believes that the next-generation interoperable DEX could jump 525% from its current price of $ 16 and reach $ 100.