Injective Launches $150M Ecosystem Fund; Doodles 2 Set to Launch on Flow

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Daily Top Mover — Injective (INJ)

Q4 U.S. GDP beat market expectations, stoking hopes of a softer landing and, in turn, sending stocks to rise on Thursday. Tesla surged more than 10% in the wake of its better-than-expected Q4 earnings. Meanwhile, the broader cryptocurrency market fell, with Bitcoin and Ether down by 1.12% and 1.23% in the past 24 hours as of the time of writing. The top mover for today, INJ, registered a 24-hour return of 14.91%, outperforming the broader market due to the launch of a $150 million ecosystem fund.

Launched in June 2021, Injective is a blockchain focused on DeFi and built using Cosmos SDK and Tendermint’s consensus architecture. Injective was the first EVM-compatible Cosmos L1 that allowed cross-chain flow between Ethereum and the Cosmos ecosystem, and the first blockchain to allow completely decentralized orderbook infrastructure. The recent surge came as it announced a $150 million ecosystem fund, together with players such as Jump Crypto and Delphi Labs. The applicants will receive funding in the form of tokens and equity, mentorship, technical assistance, and marketing, among others.

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Popular NFT collection Doodles is back with Doodles 2! The new collection features a series of wearables for Doodles holders to customize their very own Doodle NFTs. The Doodles 2 project is set to launch on Flow, a highly composable Layer 1 protocol that would enable users to hold Doodles that are “portable and interoperable”.