- Injective (INJ) price climbed to a high of $8.20 on Wednesday.
- The uptick followed the launch of a pre-launch futures product by Helix, the layer-1 blockchain’s decentralized exchange.
- Celestia (TIA) is the first pre-launch futures token listed on Helix.
Injective (INJ) experienced a noticeable price increase today, building on last week’s gains. Although the token is up roughly 3.5% over the past 24 hours, intraday strength pushed INJ/USD to an earlier peak of $8.20.
INJ previously reached $9.40 in April of this year before momentum eased along with a broader market slowdown. The token’s all-time high remains $24.89, recorded in 2021.
Helix launches pre-launch futures
Injective’s price improvement coincided with recent network developments, which followed last week’s integrations with the NFT marketplace Dagora and the launchpad InjMarket.
This latest advance came from Helix, a decentralized exchange built on Injective, which rolled out pre-launch futures on Wednesday. The new product enables traders to speculate on tokens before their official launch.
“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,” Helix said in a blog post.
Celestia (TIA), the native token of the modular data network from Celestia Labs, is the first token listed in Helix’s pre-launch futures market. Celestia’s recent airdrop, which concluded today, may have contributed to positive sentiment across the Injective ecosystem.
TIA is expected to begin trading on a major cryptocurrency exchange in the coming weeks. The token will be used to pay transaction fees and incorporates a fee-burning mechanism similar to Ethereum’s EIP-1559.