INJ has knocked on $8.30 twice in two days — and been turned away both times.
Canary's staked INJ ETF began trading on Nasdaq November 5, and by Friday held $16.12 million. INJ is up 15% on the week; launch day printed $22.1 million, the week's biggest volume.
Here's the part the story skips: the fund started with $15 million of seed money, and its share count never moved — still 600,000 shares after two sessions. Day one traded just 2,933 shares.
Bull camp: the listing is the point — a staked Nasdaq ETF, 90% staking target, a $7.80 floor tested twice.
Bear camp: $16 million of seed is not demand, and $8.30 rejected the tape twice.
Where I land: the listing is real, the flows aren't. A close above $8.58 breaks the ceiling; under $7.80, the sellers take it back.
Levels: support $7.80, then $7.25 · resistance $8.30, then $8.58.
Which are you watching closer — the $8.30 ceiling, or the ETF share count?
NFA, DYOR.
$INJ #Injective #ETF #Altcoins #CryptoTrading
Canary's staked INJ ETF began trading on Nasdaq November 5, and by Friday held $16.12 million. INJ is up 15% on the week; launch day printed $22.1 million, the week's biggest volume.
Here's the part the story skips: the fund started with $15 million of seed money, and its share count never moved — still 600,000 shares after two sessions. Day one traded just 2,933 shares.
Bull camp: the listing is the point — a staked Nasdaq ETF, 90% staking target, a $7.80 floor tested twice.
Bear camp: $16 million of seed is not demand, and $8.30 rejected the tape twice.
Where I land: the listing is real, the flows aren't. A close above $8.58 breaks the ceiling; under $7.80, the sellers take it back.
Levels: support $7.80, then $7.25 · resistance $8.30, then $8.58.
Which are you watching closer — the $8.30 ceiling, or the ETF share count?
NFA, DYOR.
$INJ #Injective #ETF #Altcoins #CryptoTrading
