Injective Collaboration Spikes up the Bulls
Tether decided to integrate USDt natively on Cosmos in July 2023, using the Kava Chain as a hub. Since then, it has brought accessibility and financial stability to users and developers within the Cosmos ecosystem. This has turned some heads towards the Kava chain. This has made many communities search for the possibilities of collaboration with Kava.
Injective’s Collaboration with Kava Chain
Injective, a blockchain on the Cosmos Layer-1, has chosen Native USDT on the Kava Chain for their Perps trading. The Kava chain is a Layer-1 blockchain that is fast and secure, combining the developer power of Ethereum with the interoperability and speed of Cosmos.
This partnership between the two platforms is expected to offer significant benefits to their users and change the world of DeFi. Kava chain’s capabilities will integrate with Injective’s innovative DeFi technology to provide benefits such as improved liquidity, enhanced trading opportunities, and cross-chain flexibility.
The choice of Kava chain’s native USDT for Perps Trading uplifts the mutual benefits that this partnership brings. It is expected to offer users the best of both worlds and enrich the DeFi experience for traders and developers. Together, they are expected to reshape the possibilities within the decentralized finance sector.
What Co-Founders of Both Companies Say About the Collaboration
Kava Labs’ co-founder and CEO Scott Stuart expressed his excitement over Injective’s selection of the Kava. The partnership with Injective showcases Kava’s dedication to promoting innovation and accessibility in DeFi. The addition of Injective’s powerful tools and capabilities is something that Kava users can look forward to.
Eric Chen, Injective’s co-founder and CEO, also commented on the collaboration. He dispersed his words elaborating on the introduction of stable asset interoperability. He said that this could be a significant benefit for the Injective ecosystem. As a leader in the crypto industry, USDT’s extension of Kava’s offering is a major milestone for the community.
Prediction of KAVA Coin Price
At the press time, the KAVA coin price is trading at the level of $0.781 after seeing some corrections. The Immediate resistance from the current level is at $0.848, similarly, the immediate support level from the current level is at $0.729.
Furthermore, the bulls are serving the 150-day EMA after it made a bullish crossover with the 50-day EMA. However, the RSI is seen coming down after touching the overbought level of 78. The KAVA coin price prediction will be bullish as per the current technical analysis.
Conclusion
Injective, a blockchain on the Cosmos Layer-1, has chosen Native USDT on the Kava chain for their Perps trading. This partnership between the two platforms is expected to offer significant benefits to their users. The KAVA coin price is surfing its EMA at press time and bulls will likely lead the price upwards soon.
Technical Levels
- Support Levels: $0.729 and $0.602
- Resistance Levels: $0.848 and $1.033
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos or related indexes comes with a risk of financial loss.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
