The price of Injective (INJ) spiked over 11% in the last 24 hours, lifted by a wave of optimism following a major technical update. INJ jumped from roughly $10.10 to touch $11.49, before settling around $11.42 — its highest daily close in weeks.
Behind the surge? A network upgrade that could shift Injective’s place in the crypto landscape.
Injective’s EVM Testnet: More Than Just an Upgrade
Injective’s new EVM testnet is officially live. That’s a big deal — not just for the tech community, but for investors too.
The testnet enables developers to build Ethereum-compatible smart contracts on Injective’s native Layer 1 blockchain. Unlike many Layer 1s, Injective now supports a unified virtual machine, meaning developers can launch DeFi tools, AI protocols, and even tokenized assets on the same chain. No bridges. No clunky interfaces.
It’s fast. It’s cheap. It’s frictionless — or so Injective claims.
Their team highlighted the move on Twitter, calling it a “new chapter” for the ecosystem. And looking at the price action, the market seems to agree.
Why Traders Are Piling In
The numbers tell the story.
Injective’s trading volume crossed $120 million in the past day — a 65% spike. That’s not noise; it’s serious engagement. The volume-to-market cap ratio shot up to 10.52%, signaling strong buying pressure.
One trader on X (formerly Twitter) wrote: “That’s how breakouts begin. Real volume. Real conviction.”
There’s more:
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INJ’s current price is $11.42, up 11.17% from yesterday.
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Market cap has grown to $1.14 billion.
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Volume exploded, mostly on Binance and Coinbase.
That kind of liquidity increase usually means big players are moving in.
Price Action Shows Bullish Signals Are Strengthening
From a technical angle, Injective is flashing all the right signs.
It bounced sharply from its recent low of $10.10 and managed to close above its 20-day moving average at $11.01. That’s often a signal of renewed momentum.
But that’s not all.
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The MACD flipped bullish — a classic momentum signal.
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The Bollinger Bands are widening, which often hints at increased volatility and potential continuation.
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INJ has cleared the 50% Fibonacci retracement level at $11.65 — another green flag.
| Key Technical Level | Price | Signal |
|---|---|---|
| Support 1 | $10.10 | Bounce confirmed |
| Support 2 | $10.75 | Watch for retest |
| Resistance 1 | $11.65 | Cleared |
| Resistance 2 | $13.00 | Next major test |
| Breakout Target | $14.50 and above | If bullish momentum holds |
What Could Go Wrong?
Let’s keep it real — nothing goes up forever.
After a 12% pop in one day, some short-term traders might already be thinking: time to book profits. If enough of them act on that thought, INJ could dip back toward $10.75 or even $10.10.
And there’s always the post-hype lull. If developer adoption doesn’t follow through, enthusiasm could cool just as quickly as it flared up.
That said, there’s a big “if” hanging in the air.
If Injective actually brings in more devs and apps over the coming weeks, the testnet hype could morph into something more durable — real usage.
Developers Are the Wild Card
At the heart of this move is a simple question: will developers show up?
Injective thinks so. The team is marketing this testnet as a massive unlock, giving Ethereum builders the tools they’re already used to — just faster and cheaper.
It could attract:
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DeFi protocols seeking lower fees
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AI projects looking for speed and composability
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Tokenized asset platforms needing native Layer 1 performance
One Ethereum developer in a Telegram chat said, “If it actually works like they say, it’s a no-brainer to test stuff on Injective.”
But that’s a big if, and it might take weeks to know for sure.
Is INJ Becoming a Layer 1 to Watch Again?
A few months ago, Injective was drifting. Prices stagnated. Buzz faded. Developers weren’t exactly rushing in.
Now? It feels different.
The Layer 1 competition is brutal — Solana, Avalanche, and Base are all fighting for attention. But Injective’s strategy here is clever. Rather than competing head-on, it’s trying to plug into the Ethereum developer ecosystem with native support.
If they pull that off, it could create a unique lane: a fast, cheap Layer 1 that just works with Ethereum tooling out of the box.
Time will tell. But for now, INJ has everyone looking its way.
