Injective ($INJ): Advanced DeFi infrastructure undergoing redesign
Overview and context
Injective has been navigating an extremely volatile environment in 2025, with significant price fluctuations, but also with solid technical advancements. At the end of November, the network experienced a new surge in activity, accompanied by structural measures aimed at strengthening its tokenomics, compatibility, and appeal to developers.
This double movement of infrastructure + token economy marks Injective's bet to establish itself as one of the most refined DeFi chains in the ecosystem, not just for hype but for technical robustness.
Recent major developments
Buyback and burn program: In October 2025, Injective completed its first community buyback, burning 6.78 million INJ (~32 M USD).
In November, the buyback continued: another 6.78 M INJ burned (~39.5 M USD), as part of its deflationary tokenomics.
This mechanism, where 60% of the protocol's fees fund buybacks, aims to reduce the circulating supply and offer potential appreciation if demand is reactivated.
EVM compatibility + new development layer: On November 11, 2025, Injective launched a native layer compatible with the Ethereum Virtual Machine (EVM), the 'Ethernia mainnet'. This allows for the portability of dApps from Ethereum/Solidity, facilitates the use of widely adopted tools (such as MetaMask), and eliminates dependence on external bridges.
Thanks to this, developers can deploy in both WASM and EVM environments, which reduces fragmentation and improves shared liquidity.
Expanding ecosystem and technical adoption: Following the introduction of a simplified development system and reusable modules, the network reports growing on-chain activity, suggesting that technical improvements are already driving real usage.
Technical analysis and risks
Price projection after burn: Some technical analysts place a potential bullish target around 7 USD, with projections of 10–14 USD if that level is broken with sustained volume.
Liquidity and trading volume challenge: Despite the increase in TVL and development, INJ has shown a disconnection: on-chain activity is rising, but price and market volume have not responded equally. This common asymmetry following infrastructure improvements suggests that recovery will heavily depend on market sentiment, mass adoption, and reinvestment.
Competitive advantage: EVM + deflationary tokenomics: The combination of EVM compatibility, modular infrastructure, and burn policies positions Injective with technical advantages over many L1/L2s that still struggle with fragmentation, bridges, or token inflation.
What INJ represents today
INJ is no longer just a speculative token: it is the key to a modular, Ethereum-compatible network with long-term designed tokenomics and an architecture aimed at attracting serious DeFi projects. If Injective manages to reactivate demand, its combination of technology + deflation makes it a strong candidate to establish itself as a pillar in the DeFi ecosystem.
