Injective launches Gas Compression feature, reducing transaction fees to as low as $0.0003.

Based on the Cosmos blockchain, Injective currently charges only $0.0003 per transaction.

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Injective Trading Fees Reduced to as Low as $0.0003

According to the announcement by Injective, the platform claims to have achieved its biggest technical breakthrough to date with the integration of Gas Compression technology. Following this integration, Injective's transaction costs have reached a historic low of 0.00001 INJ or $0.0003, making it the lowest transaction fee among all L1 chains.

However, some members of the crypto community and Twitter users have disputed this claim under the Injective tweet, stating that Nano XNO is actually the chain with the lowest fees.

Injective's INJ Token Surged Nearly 30x Last Year

Injective Labs emphasized in the announcement that the sudden fee reduction will make Injective the most scalable and cost-effective blockchain platform today, opening up more possibilities for developers, users, and institutions.

For example, the cost of minting 1,000 NFTs on Injective is only $0.30, which is over 100 times cheaper than Ethereum, and significantly lower than Polygon and Solana by 500% and 50% respectively.

According to data from 2023, Injective's token INJ surged by 2,976% last year, ranking 27th in market capitalization, with a growth rate second only to BONK.