DAT Accumulates 7% of Injective (INJ) Supply – Is It Enough to Spark a Rally?

Injective (INJ) experienced a notable price surge of over 12%, rising from $3 to $3.40 (peaking at $3.95), driven primarily by the approval of governance proposal IIP-619. This proposal aims to significantly upgrade Injective's real-time EVM architecture, enhance MultiVM performance, and deepen integration with Chainlink oracles for RWA pricing.

Another key factor is the accumulation activity by Pineapple Financial (DAT), which has acquired over 7 million INJ tokens, representing 7% of the total supply. Furthermore, on-chain data from Artemis shows steady growth in daily transaction fees on the network, signaling genuine user activity in staking, trading, and building applications.

Despite these positive developments, the article cautions that INJ remains over 90% below its all-time high, and overcoming broader negative altcoin sentiment will likely require substantial new capital inflows.

(Source：BeInCrypto)