Injective price traded at $12.77, down 1.46% on the day, as volatility hit the INJ token despite a string of bullish developments. Earlier in the session, INJ touched a high near $13.60 before sliding into the red. Trading volumes surged 41% in 24 hours to $150M, suggesting heightened activity even as prices corrected.
The pullback comes after Injective unveiled major upgrades this week, including the launch of onchain pre-IPO perpetual markets and the release of its fastest cross-chain bridge to date.
Pre-IPO Perpetuals Open New Horizons
On October 1, Injective introduced the world’s first pre-IPO perpetual markets via Helix. This enables synthetic exposure to private firms like OpenAI, SpaceX, and Anthropic, putting Injective ahead of traditional finance (TradFi) platforms, such as Robinhood’s tokenized equities.
Early data show a $2.41 billion spike in perp volume between September 29 and October 5, according to DeFiLlama.
This expansion could drive protocol fees and accelerate Injective’s deflationary burn mechanism, where fees are redistributed and INJ supply reduced.
Institutional Treasury and ETF Prospects
Institutional interest also continues to grow. In September, Pineapple Financial raised $100M to build an INJ treasury, targeting 12% staking yields.
Meanwhile, Canary Capital’s staked INJ ETF is under review by the SEC, signaling possible mainstream access.
Large-scale accumulation and staking can reduce available liquidity, potentially amplifying price reactions to demand shocks.
Despite the hype, Injective’s daily active addresses average around 83.5K, placing it 11th among L1 blockchains, behind Solana and Polygon.
Revenue, however, shows strength: Injective generated $457K over the past 30 days, ranking 6th among blockchains, ahead of Avalanche and NEAR Protocol.
Injective Price Outlook: Bearish Near-Term Bias
Charts indicate that the Injective price is currently trading below $13.00, with immediate support at $12.50 and resistance around $13.60.
In the short term, momentum is negative, with prices down 4.4% for the day and down 3.47% over the past month. For the year, INJ is down 34% so far, but it is still up over 3,000% since it launched.
If bears keep the price below $12.50, INJ could drop to $11.80–12.00. However, if the Injective price breaks above $13.60, it could potentially move up to $14.50–$ 15.00 in the near term.
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