DEX Protocol Injective raises $40 million from Jump Crypto

Injective raised $40 million in a funding round that was led by Jump Crypto, the company said on Wednesday. The funding will be used to boost utility for its native INJ Token, for liquidity for existing decentralized apps built on Injective and to support new dapps on the platform.

INJ, the utility token of the Injective ecosystem, reacted positively to the news, witnessing a growth of 33.05% after only 24 hours.