Injective

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Injective (<a href="https://crypto.news/price/injective/">INJ</a>) has recorded impressive gains since December 2023 and recently touched a new all-time high (ATH). 
INJ is up by 15% in the past 24 hours and is trading at $48.8 at the time of writing. The asset reached a new ATH of $52.65 at 01:00 UTC on March 13 with a total market cap of $4.92 billion.&nbsp; 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="347" src="https://crypto.news/app/uploads/2024/03/Injective-INJ-11.57.40-13-Mar-2024-1024x347.png" alt="INJ hits new all-time high as whale activity doubles - 23" class="wp-image-14257829">
 <figcaption class="wp-element-caption">
 INJ price, RSI, exchange outflow and whale activity – March 13 | Source: Santiment
 </figcaption>
</figure> 
Notably, it’s the second time in the past two weeks that <a href="https://crypto.news/injective-to-stake-50-of-total-inj-supply/">INJ</a> hit record highs as the market-wide bull run continues.&nbsp; 
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According to data provided by Santiment, the number of whale transactions consisting of at least $100,000 worth of INJ tokens rallied by 90% over the past day — rising from 56 to 106 unique transactions per day. 
Higher price volatility is usually expected when an asset’s whale activity witnesses a sudden hike. 
Moreover, data from Santiment shows that Injective’s exchange flow balance has been consistently declining since March 9. Per the market intelligence platform, investors sent over 134,000 INJ tokens — worth $6.6 million — from cryptocurrency exchanges to their self-custodial wallets over the past 24 hours. 
The accumulation shows that some investors are looking for long-term investments rather than short-term profits. 
On the other hand, INJ’s Relative Strength Index (RSI) recorded a 7% hike in the past 24 hours — rising from 61 to 65. The indicator suggests that <a href="https://crypto.news/injective-protocol-inevm-launch-inj/">Injective</a> is slightly overheated at the moment and an RSI of lower than 60 would signal a <a href="https://crypto.news/most-crypto-exchange-tokens-lag-behind-bitcoin-data-shows/" data-type="link" data-id="https://crypto.news/most-crypto-exchange-tokens-lag-behind-bitcoin-data-shows/">bullish momentum</a>.&nbsp; 
 Read more: <a href="https://crypto.news/bitcoin-new-all-time-high-73000/"> Bitcoin hits new all-time high at $73k </a>

INJ hits new all-time high as whale activity doubles

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