Both Injective protocol and Gorilla are distinctive crypto projects, aiming to improvise decentralized exchange services in their own ways. While the Injective protocol exists on the Cosmos blockchain, Gorilla is powered by the Ethereum blockchain.
Even though both projects are promising, having real world use cases, Injective is worth buying before 2024 compared to Gorilla, under current market conditions. Let us explore Injective vs Gorilla and find out key differences between them to see which is a good investment.
Injective vs Gorilla Overview
The Injective protocol is a decentralized exchange (DEX), known for providing cross-chain margin trading, derivatives and forex futures trading services. Injective layer 2 blockchain is powered by Cosmos blockchain and INJ is its native token.
The noteworthy aspect of Injective protocol is that it enables users to access cryptocurrencies from other blockchains like Ethereum and Polkadot. Injective token, INJ, recorded a 60% price surge earlier this week and is up by around 150% this month and 3000% this year.
Gorilla is a meme coin that brings real world use cases unlike other meme cryptocurrencies. It offers DEX services to improve crypto trading for the users. The Gorilla project also has an IDO launchpad to help new projects launch in the crypto space. It was launched on the Ethereum blockchain and its native GORILLA token is based on the ERC-20 token standard.
Google Trends: Injective vs Gorilla
- Google Trends Comparison of Injective (Blue) and Gorilla (Orange)
Google trends never lie when it comes to finding out whether investors are showing interest in a particular cryptocurrency or not. Coming to the Injective vs Gorilla comparison of Google trends, Injective is far ahead in the last 30 days.
The Google search volume of Injective is on the rise compared to Gorilla as of December. This implies investors are interested more in Injective rather than Gorilla.
Active Addresses: Injective vs Gorilla
Over 250,000 active addresses on Injective 🚀
That’s it. That’s the tweet.
— Injective 🥷 (@Injective_) December 22, 2023
The total active wallet addresses of Injective protocol are more than 250,000. Injective Protocol’s official account on X posted the same on December 22, 2023. On the other hand, the total number of active addresses of Gorilla is less than 100,000.
Price Comparison Chart: Injective vs Gorilla
- Price comparison chart of Injective (Orange) and Gorilla (Blue)
Comparing the prices of both Injective and Gorilla gives an insight into their market performances. Injective token, INJ, is currently trading at $40.11, recording 30% weekly gains, 150% monthly gains, and almost 3000% yearly gains. On the other hand, GORILLA token is trading at $0.008098, recording a whopping 1000% monthly gains and 3,330% yearly gains.
It is difficult to find out which is a better investment between INJ and GORILLA, Because, both of them are performing well. However, Injective has a little edge over Gorilla, having a long-term upward price movement since its launch.
Market Cap & Trading Volume: Injective vs Gorilla
- Market Cap Comparison of Injective (Orange) and Gorilla (Blue)
Market capitalization of any cryptocurrency is multiplication of its circulating supply and token price. It helps you understand that cryptocurrency’s value and size in the overall crypto market.
While the market cap of Injective is $3.37 billion, Gorilla’s market cap is $6 million. There is a clear difference in the market cap values of Injective and Gorilla, with Injective having a larger share of the crypto market.
Injective token’s trading volume is $272 million trading volume and is down by 34% in the last 24 hours, as of December 23. Gorilla’s trading volume is just $1 million and is down by 80% in the last 24 hours.
If we look at the trading volumes of INJ and GORILLA, Injective has more trading volume compared to Gorilla. A higher trading volume indicates that more investors are trading large volumes of INJ tokens compared to the number of investors that are trading GORILLA.
Injective vs Gorilla: Which is worth buying before 2024?
Keeping in mind the current market conditions as of December, 2023, Injective is a good investment compared to Gorilla. Because Injective has an upper hand in all the metrics we have analyzed above.
Injective protocol combines decentralized finance (DeFi) with artificial intelligence (AI) technology. The project aims to bring advanced solutions to decentralized trading services. When it comes to Gorilla, it has other plans like IDO launchpad, cross-chain swap services, etc. Both projects hold immense potential for future growth but if you compare, Injective is a better investment than Gorilla.
Source: https://coingape.com/blog/injective-vs-gorilla/