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Why did the price of INJ fall?

Injective (INJ) dropped 3.84% in the last 24 hours, underperforming the overall crypto market, which fell 2.75%. This decline was driven by profit-taking after a strong 20% weekly gain, a broad selloff in AI-related tokens, and mixed reactions to Injective’s launch of its Ethereum-compatible (EVM) mainnet.

  1. AI Token Selloff – SoftBank’s $5.8 billion sale of NVIDIA shares sparked panic across AI-focused tokens.
  2. Technical Resistance – INJ’s price hit a key resistance level at $8.07 and pulled back.
  3. EVM Launch Volatility – Despite positive upgrades, investors sold after the mainnet launch, following the “buy the rumor, sell the news” pattern.

Deep Dive

1. AI Sector Contagion (Negative Impact)

Background: On November 11, SoftBank sold $5.8 billion worth of NVIDIA stock to fund investments in OpenAI (Yahoo Finance). This move caused AI-related tokens, including INJ, to drop between 3% and 8%.

What this means for INJ:

Key indicator: The AI token sector correlation index is currently 0.82 compared to Bitcoin, indicating a strong link.

2. Technical Resistance at Key Price Level (Bearish)

Background: INJ’s price hit resistance at $8.08, a significant technical level known as the 50% Fibonacci retracement from its October-November rally.

What this means:

What to watch: Daily closing prices within the $7.60 to $8.10 range for signs of direction.

3. Mixed Reaction to EVM Mainnet Launch

Background: On November 11, Injective launched its Ethereum Virtual Machine (EVM) compatible mainnet (CoinDesk). This upgrade allows faster transactions and supports over 40 new decentralized applications (dApps).

What this means:

What to watch: Growth in total value locked (TVL) and developer activity after the EVM launch.

Conclusion

Injective’s recent price drop reflects broader concerns in the AI sector, profit-taking at technical resistance levels, and a cautious market response to its EVM mainnet launch. While the upgrade strengthens Injective’s position across multiple blockchains, traders are waiting for clearer signs of increased user adoption.

Key points to monitor: Whether INJ can maintain support above $7.60, especially as Bitcoin dominance stays high at 59.2%. Also, watch for increased activity in EVM-based dApps and how INJ’s price moves in relation to AI tokens for future direction.


What could affect the price of INJ?

Injective’s price is balancing between new technology upgrades and market ups and downs.

  1. EVM Mainnet Launch (Positive) – Makes it easier for developers to build and increases cross-chain trading.
  2. ETF Filings & Regulatory Risks (Uncertain) – Could bring big investors, but regulatory approval is unclear.
  3. Token Burns & Buybacks (Positive) – Reduces supply, which can support price growth.

Deep Dive

1. EVM Mainnet & MultiVM Adoption (Positive Impact)

Overview:
On November 11, Injective launched its Ethereum Virtual Machine (EVM) mainnet. This lets developers create apps using Solidity (Ethereum’s programming language) while still accessing liquidity from the Cosmos network. The MultiVM system offers very fast transactions with almost no fees, attracting projects like Likwid (margin trading) and Helix (perpetual contracts).

What this means:
This upgrade could lead to more apps and higher trading volume on Injective, increasing fees earned by the platform. Other blockchains that added EVM compatibility, like Avalanche, saw their total value locked (TVL) grow by over 300%. If Injective captures just 5% of Ethereum’s decentralized finance (DeFi) activity—which currently holds $23 billion in TVL—its own $109 million TVL could grow significantly, potentially boosting the value of INJ tokens.

2. Staked INJ ETF & Regulatory Hurdles (Mixed Impact)

Overview:
Canary Capital and 21Shares have applied to launch INJ exchange-traded funds (ETFs) in the U.S. and Europe that would offer staking rewards to investors. However, the U.S. Securities and Exchange Commission (SEC) has delayed approval of similar crypto ETFs, and it’s still unclear if INJ is classified as a security.

What this means:
If approved, these ETFs could bring large institutional investments, similar to how Bitcoin ETFs now manage $138 billion in assets. But if the SEC rejects or delays approval, it could cause investors to sell. INJ’s price tends to move closely with Bitcoin (with a 90-day correlation of 0.82), so overall crypto market trends will heavily influence INJ’s short-term price.

3. Deflationary Tokenomics (Positive Impact)

Overview:
Injective uses a buyback program that burns (permanently removes) 60% of the fees it collects, destroying about 1.2 million INJ tokens every quarter. Pineapple Financial has allocated $100 million to support this, and recent burns have been substantial—for example, $890 million worth of tokens were burned in October.

What this means:
Since nearly all INJ tokens are already in circulation (99.97%), reducing supply through burns can increase price volatility and potentially push prices higher. If the current burn rate of about $1 million per week continues, Injective could see an annual token supply reduction of around 4%, which is much higher than Ethereum’s 0.8% deflation rate after its Merge upgrade.

Conclusion

INJ’s future depends on how well the EVM upgrade drives usage and fees, the outcome of ETF approvals, and continued token burning. While these improvements position Injective as a strong player in DeFi, ongoing market challenges (crypto markets down 6.82% monthly) and regulatory uncertainties remain. Will the token burn rate be enough to balance selling pressure from staking rewards? Keep an eye on weekly protocol revenue and SEC updates on ETFs.


What are people saying about INJ?

The Injective (INJ) community is optimistic but cautious. Here’s what’s currently shaping the conversation:

  1. ETF filings are drawing interest from big investors
  2. Token burn events are creating buzz but also some doubt
  3. Traders are debating whether the $8 price breakout is real

Deep Dive

1. @MrMinNin: ETF Momentum + Token Burn Hype – Positive outlook

“3️⃣ Reasons $INJ is gaining attention: 1️⃣ ETF filed by 21Shares, 2️⃣ October token burn event, 3️⃣ Focus on DeFi and Real-World Assets (RWA). Current price around $8.30 vs all-time high of $50.”
– @MrMinNin (3,340 followers · 1,693 impressions · October 22, 2025)
View original post
What this means: The ETF filing could bring in institutional investors, which is a positive sign. The token burn reduces supply, potentially increasing value over time.

2. @ali_charts: $8 Breakout Confirmation Debate – Mixed feelings

“Injective $INJ breakout confirmed from ascending triangle, targeting $8!”
– @ali_charts (162,613 followers · 7,690 impressions · September 2, 2025)
View original post
What this means: Some traders see a strong price move above $8 as a positive sign. However, the price later dropped to $7.72, raising questions about whether the breakout will hold.

3. @WorldOfCharts1: $35 Target Depends on Key Levels – Optimistic but cautious

“If INJ breaks through horizontal resistance, it could reach $35 in the next few days.”
– @WorldOfCharts1 (47,787 followers · 8,503 impressions · September 9, 2025)
View original post
What this means: For INJ to reach $35, it needs to stay above $8.50 (currently $7.72) and see a big rally of about 355%. This depends heavily on the overall market improving.

Conclusion

The overall outlook for Injective (INJ) is cautiously optimistic. Positive factors include the potential ETF approval and improvements in the ecosystem. However, technical setbacks and a 70% drop over the past year keep investors wary. Keep an eye on the 21Shares ETF decision expected in Q4 2025 — if approved, it could bring more institutional interest and boost INJ’s price. If rejected, the downward trend might continue for a while longer.


What is the latest news about INJ?

Injective is making big moves with three major updates: launching its EVM mainnet, getting support from Binance for network upgrades, and showing strong signs of price growth. Here’s the latest:

  1. MultiVM Mainnet Launch (November 11, 2025) – Injective’s Ethereum-compatible network goes live, combining familiar Ethereum tools with super-fast transactions.
  2. Binance Supports Upgrade (November 11, 2025) – The exchange backs Injective’s network update, keeping trading smooth during the transition.
  3. Price Breakout Aims for $10 (November 11, 2025) – Positive momentum builds as the ecosystem grows.

Deep Dive

1. MultiVM Mainnet Launch (November 11, 2025)

What happened: Injective launched its EVM mainnet featuring MultiVM technology. This means it can work with multiple blockchains like Ethereum, Cosmos, and Solana, and confirm transactions in less than a second. Developers can build decentralized apps (dApps) using popular Ethereum tools like MetaMask, while benefiting from Injective’s fast and low-cost network. Already, over 40 dApps are live, including platforms for derivatives trading and prediction markets.

Why it matters: This is great news for Injective (INJ) because it opens the door to more developers and projects, especially those familiar with Ethereum. The network’s low fees (just $0.00008 per transaction) and instant transaction finality could attract more users and boost adoption. (CoinMarketCap, CoinDesk)

2. Binance Supports Upgrade (November 11, 2025)

What happened: Binance, one of the world’s largest crypto exchanges, confirmed it supports Injective’s network upgrade and hard fork. During the upgrade, deposits and withdrawals were temporarily paused, but trading remained active. The upgrade improves the network’s scalability and security, aiming to meet the needs of institutional users.

Why it matters: This is a positive sign for INJ. Although there might be short-term liquidity changes, Binance’s backing adds credibility to Injective’s technology. Historically, such upgrades have led to price increases, but traders should watch how stable the network is after the update. (Cryptofront News)

3. Price Breakout Aims for $10 (November 11, 2025)

What happened: INJ’s price broke out of a downward trend and tested support at $8. Analysts point to the recent v1.17.0 upgrade, new partnerships like Pineapple Financial’s $100 million treasury, and progress on regulatory fronts (such as staking-approved ETFs) as reasons for optimism. Social media activity around Injective jumped 40% in one week.

Why it matters: If the $8 support level holds, INJ could push toward resistance levels near $9.50 to $10. However, since INJ’s price tends to move somewhat with Bitcoin (with a correlation of 0.85), overall market conditions will still play a big role. If support fails, the price could drop to around $7. (Cryptofront News)

Conclusion

Injective is advancing with strong technology upgrades and growing market interest. Still, the broader crypto market, especially Bitcoin’s performance, and how smoothly the network upgrade goes will be key factors. The big question: Can Injective’s new EVM capabilities help it overcome market ups and downs and push INJ beyond $10?

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What is expected in the development of INJ?

Injective’s roadmap highlights expanding Ethereum compatibility, reducing token supply, and attracting institutional investors.

  1. Altria Upgrade (November 11, 2025) – Launches a fast Ethereum-compatible layer for easier app development.
  2. Monthly Community Burns (Q4 2025) – Pools fees to burn more $INJ tokens transparently every month.
  3. Pre-IPO Market Expansion (October 2025) – Adds on-chain trading for private companies like OpenAI and Stripe.
  4. INJ ETF Progress (Pending) – 21Shares is seeking SEC approval for the first U.S. staked $INJ ETF.

Deep Dive

1. Altria Upgrade (November 11, 2025)

Overview
This upgrade activates Injective’s Ethereum Virtual Machine (EVM) layer, allowing developers to build apps using Ethereum’s popular programming language, Solidity. At the same time, it keeps Injective connected to the Cosmos network for smooth cross-chain communication. Transactions will finalize in about 1.1 seconds with almost no fees.

What this means
This is a positive step for $INJ because it combines Ethereum’s large developer community with Injective’s decentralized finance (DeFi) platform. However, moving liquidity between blockchains could face some delays.

2. Monthly Community Burns (Q4 2025)

Overview
Instead of burning tokens weekly, Injective will now collect fees from decentralized exchanges and lending platforms into smart contracts and burn 60% of these fees monthly. The remaining 40% will be rewarded to token holders who stake their $INJ (CoinDesk).

What this means
Burning tokens reduces the total supply, which can help support the price over time. But burning less often might reduce short-term trading excitement.

3. Pre-IPO Market Expansion (October 2025)

Overview
After launching trading for OpenAI perpetual contracts, Injective plans to add derivatives for companies like SpaceX and Stripe. These markets rely on decentralized oracles such as SEDA to provide accurate price data (Cointelegraph).

What this means
Offering real-world assets could bring in more institutional traders. However, regulatory challenges around synthetic equity products remain a concern.

4. INJ ETF Progress (Pending)

Overview
21Shares has filed with the U.S. Securities and Exchange Commission (SEC) to launch an ETF that offers exposure to staked $INJ tokens. If approved, this could attract significant investment similar to Bitcoin ETFs, though approval depends on regulatory decisions after upcoming elections (Crypto Briefing).

What this means
An ETF would boost Injective’s credibility with institutional investors. Delays or rejection could slow momentum temporarily.

Conclusion

Injective is focusing on connecting Ethereum and Cosmos networks, reducing token supply through burns, and bridging traditional finance with ETFs and real-world assets. With the Altria Upgrade coming and ETF approval pending, keep an eye on developer activity and token burn rates. Injective’s mix of DeFi innovation and institutional access could reshape its market role in 2026.


What updates are there in the INJ code base?

Injective is upgrading its technology to improve scalability and make it easier to work across different blockchain networks.

  1. Mainnet Hard Fork (November 11, 2025) – A network upgrade to improve how validators operate and reach consensus.
  2. EVM Compatibility with Ethernia (June 30, 2025) – Allows Ethereum developers to build on Injective using familiar tools.
  3. Burn Auction Automation (June 30, 2025) – Automates token burning to help reduce supply and support value.

Deep Dive

1. Mainnet Hard Fork (November 11, 2025)

What’s happening: Injective will perform a planned upgrade to improve how its network validators coordinate and confirm transactions faster. Validators—who help secure the network—need to update their software to avoid penalties. Exchanges like Binance paused deposits and withdrawals briefly to support this upgrade.
Why it matters: This upgrade makes the network more reliable and secure, which is important for attracting big decentralized finance (DeFi) projects. A smoother validator process means fewer disruptions and stronger trust in the system. (Source)

2. EVM Compatibility with Ethernia (June 30, 2025)

What’s happening: Injective is adding support for the Ethereum Virtual Machine (EVM), the technology behind Ethereum smart contracts. This means developers who use Ethereum’s programming language, Solidity, can now build directly on Injective without complicated workarounds. A public test version is already available, with the full launch coming soon.
Why it matters: This opens Injective to a large community of Ethereum developers and lets them tap into Injective’s fast transaction speeds (over 25,000 transactions per second). It also simplifies building apps that work across different blockchains. (Source)

3. Burn Auction Automation (June 30, 2025)

What’s happening: Injective replaced manual token burn auctions with an automated smart contract system. This system limits how many participants can join and distributes burned INJ tokens fairly. It now handles 60% of the fees from decentralized apps (dApps) that are burned, making the process more transparent and accessible. So far, over 6.6 million INJ tokens (worth about $31 million) have been burned.
Why it matters: Automated token burning helps reduce the total supply of INJ, which can support the token’s value as demand grows for Injective’s DeFi services. (Source)

Conclusion

Injective’s updates focus on making the network faster and more secure, while improving token economics through automated burns. These improvements strengthen INJ’s position as a key player in cross-chain finance. The big question is: as more developers start building on Injective, how will it compete with other platforms like Solana?

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