Last updated: June 18, 2025 11:45 EST | 1 min read
The Injective Protocol, a decentralized exchange platform specializing in derivatives, has announced to the wider audience that the creation of its Injective Ethereum Virtual Machine (inEVM) is now in the final stages, with 98% completion.
Injective inEVM loading ⏳
The development of a revolutionary Ethereum rollup for scaling multi VM is nearing its completion.
▓▓▓▓▓▓▓▓▓▓▓▓▓▓░░ 98%
— Injective 🥷 (@injective) March 4, 2024
In a recent post on X, the derivatives trading platform describes inEVM as a game-changing Ethereum rollup designed to enable rapid multi-VM development.
Despite facing scaling challenges and high transaction fees, Ethereum remains a popular choice among developers, especially during bullish market periods.
The introduction of the inEVM aims to bridge these obstacles by providing a connection between the low-cost and highly scalable Injective Protocol and Ethereum, allowing traders to execute swaps at significantly lower costs. According to data from the platform’s main page, the average transaction fee is less than $0.01.
Additionally, integrating with Ethereum will enable developers to deploy their solutions on the Injective Protocol platform. The inEVM merges the high performance capabilities of Injective with the extensive array of developer tools available in Ethereum.
The implementation of multiple virtual machines by inEVM enhances transaction processing speed and user capacity, which is crucial for Injective Protocol’s goal of competing with centralized exchanges like Bybit and Binance. This decentralized platform supports various features including margin trading and perpetual swaps.
The launch of inEVM is expected to drive a significant increase in the number of users on the Injective Protocol platform, leading to a surge in transaction volume. As of early March 2024, Injective reported processing nearly half a billion on-chain transactions.
Nearing half a billion on-chain transactions ⏳ https://t.co/ObrfGbMVuP
— Injective 🥷 (@injective) March 3, 2024
Injective Protocol Token Performance Surged Over 500% in 2023
Recently, the native token of the protocol named INJ has been among the top performers in the market. Outperforming Solana (SOL) and certain meme coins, INJ witnessed a significant price increase from approximately $8 to a peak of $45 in late December.
This surge in price propelled the coin into the top 50 by market capitalization. Currently, INJ is trading at around $40, registering a 10% increase in the last 24 hours according to Coingecko data. » …