Injective (INJ) price continues its upward trajectory, surging past $26 on Tuesday after gaining over 25% in the previous week. The recently announced INJ 3.0 upgrade focuses on significantly reducing token supply, potentially fueling further bullish momentum. On-chain metrics further support this optimism, with Total Value Locked (TVL) and Open Interest (OI) both showing notable increases.
Key Highlights
- INJ price rises for the seventh consecutive day, breaking key resistance levels.
- INJ 3.0 upgrade introduces deflationary mechanisms, slashing token supply until Q1 2026.
Chain data reveals growing investor interest:
- OI spikes to $197.74M (highest since December 2023).
- TVL jumps 29.6% to $65.51M.
INJ 3.0 Upgrade: A Game-Changer for Tokenomics
The governance proposal for INJ 3.0 passed on Sunday with 99.99% community approval, marking a pivotal shift in Injective’s tokenomics:
"INJ 3.0 will drastically reduce token supply, positioning INJ as one of the most deflationary assets long-term."
— Injective (@injective)
Implications:
- Supply shock: Reduced issuance against rising demand could drive valuation higher.
- Investor confidence: Deflationary models often attract long-term holders.
Price Analysis: Bullish Signals Dominate
Technical Indicators:
- Breakout: INJ surpassed the daily resistance at $23.46**, closing above the **50-day EMA ($24.41).
- Next target: $31.12 (18% upside from current levels).
Momentum:
- RSI at 58 (bullish bias).
- MACD confirms upward trend.
📈 INJ/USDT Daily Chart
On-Chain Metrics Fuel Optimism
1. Open Interest (OI)
- **$197.74M** (from $116.42M on Jan 1) signals fresh capital inflow.
- Interpretation: New buyers anticipate price appreciation.
2. Total Value Locked (TVL)
- **$65.51M** (vs. $50.54M on Jan 1) reflects heightened ecosystem activity.
- Why it matters: Rising TVL correlates with network adoption and trust.
🔗 Data Sources: Coinglass | DefiLlama
FAQ: INJ 3.0 & Market Outlook
Q: How does INJ 3.0 reduce token supply?
A: The upgrade caps new issuance until 2026, creating artificial scarcity.
Q: What’s driving INJ’s price surge?
A: Combine deflationary upgrade, technical breakout, and institutional OI growth.
Q: Could INJ hit $35 soon?
A: If bullish metrics persist (e.g., TVL > $70M), $31–$35 is plausible.
👉 Explore crypto market trends for deeper insights.
Macro Context: Crypto & Global Markets
- Bitcoin surpassed $110K, buoyed by USD weakness (DXY down 11% YTD).
- Gold touched $3,358/oz as fiscal concerns escalate.
- U.S. Senate passed a tax-credit bill favoring chipmakers, boosting tech stocks.
📌 Watch July’s non-farm payrolls for potential market volatility.
Final Thoughts
INJ’s price-action and fundamentals align for continued growth. The 3.0 upgrade cements its deflationary edge, while on-chain data validates investor interest. For traders, $26–$31 is the key range to watch.
👉 Stay ahead with real-time analytics on INJ and other top assets.
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