INJ Price Set to Take Off and Leave Bitcoin in the Dust as Market Trades in Red

Despite broader market weakness, Injective Protocol’s INJ token has shown resilience over the past day. As Bitcoin and major cryptocurrencies declined, INJ held support and avoided substantial losses.

An analysis from Anjela from Tradingview attribute INJ’s relative strength to growing anticipation of significant token burns. As part of Injective’s decentralized governance model, network fees are used to systematically remove INJ from circulation.

Based on activity, these weekly burns are projected to ramp up considerably in the near future. By permanently destroying portions of the supply, the burns may offset selling pressure even amid bearish macro conditions.

As the whole cryptocurrency market traded in the red, INJ exhibited a surge in its value amidst the bloodbath. Injective (INJ) is currently trading at $7.5793. In the last 24 hours, its price has increased by 5.79%, with a trading volume of $82,982,623.

Trade on US-Banned Exchanges With No KYC 🤫

Tired of missing hot new listings because your favorite exchange is banned in the US? 🇺🇸

With RocketXchange you can finally trade on Kucoin, ByBit and more without registration or KYC! 🙌

Simply connect your wallet to access every coin. No VPN needed.

Seamlessly bridge between EVM, Solana, Cosmos and 100+ chains. Discover the next crypto gem with low fees.

Take your trading to the next level with:

  • Instant access to banned CEXs 🚫
  • No KYC required 🙅‍♂️
  • Trade on your terms – no registration required
  • Maintain full custody – tokens stay in your wallet
  • Access liquidity across leading DEXs and CEXs
  • Bridge assets quickly between any blockchain

Escape CEX limits today with RocketXchange!

Show more +

For INJ holders, the combination of deflationary activity, technical strength, and platform growth sets up an appealing backdrop despite fragile overall market conditions. While risks remain, Injective appears well-positioned to continue carving out its own path higher.

We recommend eToro

74% of retail CFD accounts lose money.
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy thetrades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of


Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

We will be happy to hear your thoughts

Leave a reply