The price of Injective crypto rose by 11.17% over the last 24 hours, increasing from approximately $10.10 to a high of $11.49. Currently, INJ is trading at $11.42, with a market capitalization of $1.14 billion and a trading volume exceeding $120 million in the past day.
This price increase and surge in trading follow a major network update. Injective launched its new Ethereum Virtual Machine (EVM) testnet today, allowing developers to use Ethereum-compatible smart contracts within Injective’s fast Layer 1 system.
Why the Injective EVM Testnet Matters
According to Injective’s official announcement, this testnet introduces the only L1 blockchain with a unified virtual machine layer, enabling builders to deploy DeFi apps, AI protocols, and tokenized assets all from one chain. It also promises zero friction for users, near-zero fees, and instant finality.
The Twitter thread from Injective emphasized that this EVM update is not just a tech improvement; it’s a major shift. The team claims the platform will offer the best on-chain experience for developers building with Ethereum tooling. It opens Injective up to a broader developer base, potentially driving new liquidity, apps, and users to the ecosystem.
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Investors are now reacting. The volume jumped by over 65%, pushing the Injective (INJ) volume-to-market cap ratio to a healthy 10.52%. That’s a bullish sign, showing that market participants are actively buying.
INJ Price is Forming Bullish Patterns: What Comes Next?
Technically, Injective crypto is breaking out. According to the Bollinger Bands and key moving averages, INJ just closed above both the 20-day average ($11.01) after bouncing off the $10.10 low and rallied nearly 12% during the trading day.
The MACD recently flipped bullish, while the Fibonacci retracement shows that INJ has already cleared the critical 50% level at $11.65. The next resistance lies around $12.10–$13.00, where previous price action stalled in late May.
A break above $13 would open up further upside toward $14.50 or higher if bullish momentum sustains.
However, profit-taking is a risk. After a 12% daily gain, short-term traders might cash out as excitement about the testnet launch fades. If this happens, Injective Coin could drop to support levels around $10.75 or $10.10 before rebounding.
But if developer activity surges and Injective delivers on its EVM promises, $13 could be just the beginning. As new apps roll out and on-chain usage grows, INJ’s value proposition as a high-speed, Ethereum-compatible Layer 1 becomes more attractive.
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