Injective

DeFi

Strong

Coin

A whale sold 243,699 $INJ tokens, pushing the INJ price down by 7.7%. Despite this, the network continues to see explosive growth, with a rise in DeFi usage and strong social mentions in the AI finance space. 
Within a 12-hour window, one of the long-term INJ holders decided to cash out his 243,699 INJ tokens worth $7.39M on Bybit and CowSwap. 
Most of these tokens were collected by the holder ‘0x41d’ between February 2021 and July 2022 at an average INJ price close to $10.92. 
Eventually, tokens were sold in two market tops in 2023 and 2024, at an average price of $35.9 in the most recent sale. 
The result was an estimated profit of $15.21 million, with a 2.3x return in 3.5 years. When this happened, INJ’s price dropped hard, by an astonishing 7.7%, which is how much provoked reactions on the part of influential market participants to withdraw their INJ. 
The case serves as a reminder of substantial gains for strategic long-term holders and their ability to move token prices with concentrated sell-offs. It also points to why you need to track whale activity to understand market dynamics and potentially price movements better. 
<h2 class="wp-block-heading" id="h-inj-price-sees-explosive-transaction-growth-fueled-by-rising-defi-use">INJ Price Sees Explosive Transaction Growth, Fueled by Rising DeFi Use</h2> 
You can see the daily rise in the Injective network from Artemis’ chart. Over the course of the past months, activity has made an incredibly large spike. Going from 1 million daily transactions in mid-2023 to over 5 million by late 2024. 
An increase in Injective ecosystem adoption and usage is being expressed in this growth: more people are using its expanding suite of DeFi and other blockchain utility applications. 
The INJ price range is going up consistently, which means that Injective is becoming more and more important. 
Such a constant increase in transaction volume is a testament to the network’s capacity to bear the scalability requirement as well as its performance, making it a prominent actor in the larger DeFi ecosystem. 
<h2 class="wp-block-heading" id="h-ai-defi-crossover-with-growing-social-traction">AI-DeFi Crossover with Growing Social Traction</h2> 
Injective is at the top of LunarCrush’s social activity ranking for AI-related cryptocurrencies. You could say that Injective has proved to be a leader in the AI finance sector. 
Injective dominated mainstream projects, garnering over 12,75K social mentions, as those other projects couldn’t compete, which indicates its growing influence and traction in the blockchain and AI space. 
It’s highlighting Injective as a key player in the intersection of artificial intelligence and decentralized finance (DeFi). This increased visibility is likely driven by the platform’s innovative offerings. Not to mention ecosystem developments that are resonating with the crypto community. 
Injective keeps its grip on social discussions, which largely reinforces its dominance in AI finance. This trend again reaffirms the fact that a supportive community is crucial. Building awareness and later adoption of blockchain leveraging capabilities to power AI-based financial solutions is effective. 
<h2 class="wp-block-heading" id="h-37-rally-with-key-26-support-holding-strong">37% Rally with Key $26 Support Holding Strong</h2> 
The <a href="https://www.thecoinrepublic.com/2024/11/14/inj-poised-for-potential-rally-as-key-support-and-resistance-hold/">injective</a> 4hr chart shows the price is trading at $28.45. That is near the $26.00 strong support and a big resistance of $36.00. 
Bullish momentum could come in the form of a move above $28.50. Further downside risk might come off a break below $26.00. 
A mixed technical picture is noted in INJ price. As the stochastic RSI moves into the oversold region, there potentially lies a rebound. The Money Flow Index now reads at neutral 49, showing balanced buying and selling pressure. 
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The 37.7% potential <a href="https://www.thecoinrepublic.com/2024/11/09/injective-inj-bullish-flag-breakout-targets-bold-100-run/">upside</a> is from the $26.00 support holding and price rallying towards the $36.00 resistance. A bearish continuation, however, could follow if support is not maintained. 
The post <a href="https://www.thecoinrepublic.com/2024/11/29/injective-growth-remains-unstoppable-despite-inj-price-pullback/">Injective Growth Remains Unstoppable, Despite INJ Price Pullback</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Injective Growth Remains Unstoppable, Despite INJ Price Pullback

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