🚀 Injective (INJ) skyrockets 4.62% after a fundamental milestone in its network and a technical rebound ✨
Injective (INJ) has shown remarkable strength, climbing 4.62% in the last 24 hours and outperforming the overall crypto market. This momentum is mainly due to the successful launch of its EVM mainnet on November 11, which has already attracted over 40 projects to its ecosystem. The daily transaction volume experienced a 52.6% increase, reaching $66.1 million, indicating growing interest. Additionally, resilience in the altcoin market and a solid technical rebound have catalyzed this rise.
🔍 What does it imply?
The Injective Network: The activation of its Ethereum Virtual Machine (EVM) is a strategic move that attracts a wave of Solidity developers and liquidity to the ecosystem, consolidating its MultiVM vision and expanding its interoperability.
The INJ Token: Shows clear technical relief after oversold conditions, with its RSI recovering and the MACD turning positive. This suggests a shift in short-term sentiment, with potential to break through key resistances.
💡 Although the 30-day trend still presents a challenge, the success of Injective's EVM in attracting developers and the increase in total value locked (TVL) are crucial factors that could stabilize and enhance its future growth. INJ's ability to maintain above 5.70 in the coming days will be a key indicator following the pair adjustments on Binance.
