Bitcoin has stayed above 91,000 dollars for several days. This has made the market feel calmer. During this time, Injective focused on building instead of hype. The team worked on governance and core system upgrades.
INJ is trading around 5.60 dollars. The price is up a little over 3 percent in the last day. For the week, it is still down about 4 percent. Even so, most of the community feels positive. Injective’s market value is close to 560 million dollars. Daily trading volume is about 77 million dollars. On CoinMarketCap, INJ sits near rank 118. About 85 percent of more than 65,000 voters say they feel bullish.
This positive feeling comes from real progress. A new staking vote called FIP 1 opened on December 13. At the same time, Helix Markets released an approved upgrade that improves how equity prices work on chain. These updates show that Injective is active and growing again.
A Blockchain Made for Finance
Injective is built using the Cosmos SDK and is designed for financial use. Blocks are confirmed in about half a second. The network can handle around 25,000 transactions each second. Fees are usually less than one cent. The system is built to reduce MEV, which helps trading platforms, prediction markets, and lending apps work more fairly.
A major EVM upgrade went live on November 11. Since then, many developers have joined. The cost to run Solidity apps dropped by about 99 percent. More than 30 new projects have launched. These include AI based yield tools and GPU marketplaces supported by Aethir.
Injective has grown beyond a small network. It has processed more than 2.6 billion transactions and produced over 144 million blocks. There are more than 100 apps and around 500,000 users. Early support from Binance Labs, Pantera, and Jump Crypto helped push this growth. New markets include tokenized US Treasurys and pre IPO trading tied to companies like OpenAI, SpaceX, Anthropic, and Stripe.
How the INJ Token Works
The INJ token is used to secure the network and vote on proposals. People who stake INJ earn around 12 to 15 percent each year. About 60 percent of all app fees are used to buy back and burn INJ every month. Last month, 6.78 million INJ worth about 39 million dollars was burned. In October, another 6.02 million INJ was removed.
The total supply is limited to 100 million tokens. Almost all of them are already in circulation. More than half of the supply is staked, which helps reduce selling pressure. Around 6 billion dollars in real world asset activity this year continues to support the burn system.
The FIP 1 proposal offers two new staking choices. One option has no lockup and pays about 0.1 percent. The second option locks tokens for 180 days and pays 5.22 percent. It also gives ten times more voting power. Voting ends on December 15. If approved, staking becomes easier and more flexible.
What Happened in December
Helix Markets added near real time pricing for equities. Prices update through most of the trading day using data from Pyth Network and Seda Protocol. This gives traders better and faster pricing compared to delayed data used in many DeFi apps.
CreatorPad expanded on December 10. It now offers small grants and simple tools that do not require coding. A future system called iBuild is planned for 2026. It will let developers launch DeFi features without writing custom code. Marketing campaigns are paying about 55,000 dollars in INJ to creators who cover Injective projects.
Pineapple Financial also launched on December 10. It is a loan platform that moved 4.12 billion dollars from a 10 billion dollar loan book onto Injective. The platform also stakes INJ to earn yield.
A proposed INJ staking ETF, filed in July, is still under review by regulators.
Market Conditions
INJ recently dropped to around 5.36 dollars before bouncing back. The current price range is between 5.36 and 5.78 dollars. Daily trading volume is near 77 million dollars. Technical indicators show mixed signals, with weak momentum and high fear in the market.
Some risks remain. Trading liquidity is lower on smaller pairs. Recent exchange changes reduced leverage trading. If the ETF is delayed, sentiment could slow. Lower activity would also reduce token burns. Still, the high staking rate helps support the price.
On the positive side, the staking vote result, new builder rewards, future burns, and possible ETF approval could all help. Injective reports around 120,000 active creators and over 200 million dollars in total value locked.
Final Thoughts
At around 5.60 dollars, INJ trades more like long term infrastructure than a hype token. Governance continues to improve. Token supply keeps shrinking. Trading tools are becoming more useful.
The EVM upgrade is live. Staking rules are improving. Developers are still joining. As one community member said, Injective is small but serious.
That is what December looks like for Injective. Slow progress, steady building, and real decentralization.
