{"id":1231753,"date":"2026-02-24T11:43:47","date_gmt":"2026-02-24T09:43:47","guid":{"rendered":"https:\/\/www.etoro.com\/?p=1231753"},"modified":"2026-02-24T21:49:16","modified_gmt":"2026-02-24T19:49:16","slug":"crypto-corner-inj-imx","status":"publish","type":"post","link":"https:\/\/www.etoro.com\/en-us\/news-and-analysis\/the-daily-breakdown\/crypto-corner-inj-imx\/","title":{"rendered":"Crypto Corner: INJ & IMX"},"content":{"rendered":"

The Daily Breakdown takes a deeper look at Injective and Immutable X, before diving into the chart of Shiba Inu.<\/p>\n

Before we dive in, let\u2019s make sure you\u2019re set to receive The Daily Breakdown each morning. <\/span><\/i>To keep getting our daily insights<\/i><\/b>, all you need to do is <\/span><\/i>log in<\/span><\/i><\/a> to your eToro account.<\/span><\/i><\/p>\n

Crypto Corner<\/span><\/h2>\n

We\u2019re continuing our talk about the ins and outs of the crypto market, helping investors become more familiar with the <\/span>110+ cryptoassets offered by eToro<\/span><\/a>. Today we\u2019ll discuss INJ and IMX.<\/span><\/p>\n

Injective (INJ): Currently trading near $3.15 with a market cap of ~$315 million<\/b><\/p>\n

Injective<\/a>\u00a0 is a Layer-1 blockchain built with the Cosmos SDK and optimized for decentralized finance, particularly orderbook-based trading and derivatives markets. It enables high-speed, interoperable trading across ecosystems like Ethereum, Solana, and Cosmos. The INJ token is used for governance, staking, fee payments, and collateral within DeFi applications. Secured by a decentralized validator network and supported by Injective Labs, the protocol emphasizes composability, cross-chain execution, and institutional-style on-chain trading infrastructure.<\/span><\/p>\n

Immutable X (IMX): Currently trading near $0.15 with a market cap of ~$304 million<\/b><\/p>\n

Immutable X<\/a> is an Ethereum Layer-2 network built with StarkWare\u2019s zk-rollup technology, designed to enable gas-free NFT minting and trading with instant confirmation and high scalability. The protocol powers major NFT gaming ecosystems like Gods Unchained and Illuvium and has partnered with brands such as GameStop and TikTok. The IMX token is used for governance, staking, and transaction incentives within the ecosystem. Immutable X focuses on scalable NFT infrastructure while preserving Ethereum security and user custody.<\/span><\/p>\n

Want to receive these insights straight to your inbox?<\/strong><\/p>\n

Sign up here<\/a><\/p>\n

The Setup \u2014 Shiba\u00a0<\/span><\/h2>\n

It has not been an easy ride for crypto bulls over the past few months, whether that\u2019s Bitcoin<\/a>, Solana<\/a>, Ethereum<\/a> or Shiba<\/a>. While Shiba has pulled back considerably, it\u2019s now approaching a key technical area.\u00a0<\/span><\/p>\n

\"Weekly
Chart as of 8:00 a.m. ET on 2\/24\/2026. Source: eToro ProCharts, courtesy of TradingView.<\/em><\/figcaption><\/figure>\n

For years now, the $5.50 to $6.50 range has been key support. Even after all the big rallies, Shiba has eventually come back down to this area, and each time, it has been support. Bulls are now wondering if that will remain the case this time around or if support will fail and more bearish momentum will ensue.<\/span><\/p>\n

What Wall Street’s Watching<\/h2>\n

AMD<\/b><\/p>\n

Meta<\/a> plans to deploy 6 gigawatts of data center capacity powered by processors from Advanced Micro Devices<\/a>. The company will purchase AMD chips and AI-optimized systems over a five-year period beginning in the second half of 2026. According to AMD CEO Lisa Su, the agreements are expected to be worth \u201cdouble-digit billions\u201d of dollars per gigawatt. Remember, Nvidia<\/a> reports earnings tomorrow after the close.\u00a0<\/span><\/p>\n

HD<\/b><\/p>\n

Shares of Home Depot<\/a> are rallying this morning after the home improvement retailer reported its fourth-quarter results. Earnings of $2.72 per share beat estimates of $2.54 a share, while revenue of $38.2 billion beat expectations of $38.1 billion, despite slipping ~4% year over year. Management maintained its full-year outlook calling for low-single-digit sales growth. <\/span>Dig into the fundamentals for HD<\/span><\/a>.\u00a0<\/span><\/p>\n

QQQ<\/b><\/p>\n

The <\/span>QQQ<\/span><\/a> ETF took another punch yesterday, falling over 1% in Monday\u2019s session. While the Nasdaq 100<\/a> edged out both the Dow<\/a> and Russell 2000<\/a>, renewed selling pressure in software stocks and cybersecurity firms weighed on tech as worries over AI disruption continue. <\/span>Check out the chart for the QQQ<\/span><\/a>.<\/span><\/p>\n

Disclaimer:<\/i><\/b><\/p>\n

Please note that due to market volatility, some of the prices may have already been reached and scenarios played out.<\/i><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

The Daily Breakdown takes a deeper look at Injective and Immutable X, before diving into the chart of Shiba Inu. Before we dive in, let\u2019s make sure you\u2019re set to receive The Daily Breakdown each morning. To keep getting our daily insights, all you need to do is log in to your eToro account. Crypto…<\/p>\n","protected":false},"author":130,"featured_media":819735,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[6894],"tags":[],"asset_type":[],"class_list":["post-1231753","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-breakdown"],"acf":[],"yoast_head":"The Daily Breakdown's Crypto Corner: INJ & IMX<\/title>\n<meta name=\"description\" content=\"The Daily Breakdown takes a deeper look at Injective and Immutable X, before diving into the chart of Shiba Inu.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.etoro.com\/en-us\/wp-json\/wp\/v2\/posts\/1231753\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta 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