Popular cryptocurrency analyst and investor Ben Armstrong stated that if investors invest in an Ethereum-based altcoin, they can become millionaires.
In his latest video, Armstrong told his followers on YouTube that he closely followed decentralized exchanges (DEX).
“Demand on DEXs exploded and total volume reached $ 1.52 billion.”
DEXs offer users the exchange of tokens in an unauthorized and decentralized manner. According to Armstrong, Injective Protocol (INJ) will reveal the true potential of decentralized finance (DeFi):
“Injective Protocol, powered by Binance, enables cross-chain derivatives trading. Injective Protocol provides all the features of central exchanges to be realized securely, quickly and liquidly with DEX. “
According to Armstrong, Injective Protocol benefits from the increased demand for DEXs. In addition, INJ allows users to exchange cryptocurrencies on different blockchain platforms.
According to the analyst, Injective Protocol’s cryptocurrency INJ can be used for multiple purposes on the platform.
“INJ tokens can be used and earned for staking purposes. INJ tokens can be used to select administrators because they must approve their requests. As the number of INJ tokens held by users increases, that person’s influence on management increases.
Thanks to Binance’s support, it ensures less transaction fees when you trade INJ on the platform.
According to Armstrong, the value of the new generation DEX could be 6 times its value at a price of $ 14.62.
“Where does the INJ’s price go? I think Injective Protocol has yielded very good returns. I think the price of the token will reach $ 100. “