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Injective (INJ) is leading the charge with impressive blockchain upgrades, while Ethereum (ETH) experiences a slight price dip. Kadena (KDA) and Brett (BRETT) also see price decreases, while Avalanche (AVAX) bucks the trend with positive gains. Let us break down the latest cryptocurrency market activity with their corresponding trading volumes.
Injective’s recent upgrades have significantly boosted its blockchain scalability, reducing block times to an impressive 0.65 seconds. This makes it one of the fastest layer 1 blockchains in the market. Currently, INJ is trading at $18.46, reflecting a slight 0.38% dip in the past 24 hours.
Trading volume over the last 24 hours reached $58,569,854, contributing to a market cap of $1,802,172,729. There are currently 97,622,780 INJ coins in circulation. Derivatives open interest has climbed 1.40% to $75.06M, and platforms like Binance and OKX are seeing more traders take long positions on INJ than short positions.
Ethereum (ETH) has seen a price of $2,542.73, marking a 3.87% decline in the past 24 hours. Even with this dip, ETH remains a major player with a trading volume of $11.9 billion and a market cap of $305.9 billion. The circulating supply is 120.3 million ETH coins.
The ETH derivatives market continues to favor long positions, evident from high long/short ratios. However, liquidations for long positions have been notably higher, indicating increased market volatility. Binance, OKX, Bybit, and Bitfinex remain the top platforms for ETH derivatives trading.
Kadena has experienced a price decrease, currently at $0.497440, down 5.52% in the last 24 hours. Its trading volume stands at $4.6 million, with a market cap of $142.2 million. Kadena has a circulating supply of 285.9 million KDA coins and a max supply of 1 billion KDA coins.
The KDA derivatives market is experiencing reduced activity. The long/short ratio reflects mixed sentiment with more short positions than long on Binance. Additionally, both long and short positions face similar liquidation levels, with short positions slightly more pressured.
Avalanche (AVAX) has seen a positive 3.86% change, trading at $22.99. The 24-hour trading volume is $304.7 million, and its market cap is $9.3 billion. AVAX has a circulating supply of 404.8 million AVAX coins and a maximum supply of 720 million AVAX coins.
The derivatives market for AVAX is booming with increased trading volume and open interest. A bullish sentiment prevails, as shown by more long positions. Liquidations are higher for long positions, suggesting increased risk. Binance, OKX, and Bybit are the leading platforms for AVAX derivatives.
Brett (BRETT) is trading at $0.087416, with a 24-hour trading volume of $39.7 million. It is down 0.17% over the last day, with a market cap of $866.3 million. The circulating supply stands at 9.9 billion BRETT coins, with a maximum supply of 10 billion BRETT coins.
The BRETT derivatives market has seen a decline in trading activity. Long positions dominate the market, with more long positions compared to short ones. Additionally, short positions face higher liquidation pressure. Binance, OKX, and Bybit are key platforms for BRETT derivatives.
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