$INJ falls 13% to $6.90 — Veyra vote closes tomorrow, 0.37pp short of quorum
Injective (INJ) is down 13.0% in 24h to $6.90 (range $6.56-$8.25, Binance volume $29.2M, 2.0x the 30-day average) at 08:51 PKT on 15 Nov. Yesterday it closed at $6.81, down 15.6% on the day — the 2nd-worst daily close in the past 400 days.
The live event: governance vote IIP-717 on the Veyra upgrade closes 16 Nov. Latest snapshot (13 Nov): turnout 33.03%, just 0.37pp short of the 33.4% quorum, with 70.91% voting yes. If it passes, Veyra targets activation on 24 Nov, adding institutional RWA tools and RFQ trading. Note: Veyra changes no tokenomics — no burn, no supply cut, no staking change. A separate dYdX vote to move USDC backing to Injective also ends 16 Nov.
Background: Injective halted block production on 9 Nov and Upbit suspended INJ deposits and withdrawals. Nasdaq approved the Canary INJ ETF listing on 4 Nov. The wider market is selling off too: BTC $64,947, ETH $1,820, Fear and Greed 10 (Extreme Fear).
Technicals (closed candles): EMA20 $7.74, SMA50 $7.79, SMA200 $5.81 — price below the first two, 19% above SMA200. RSI 14 is 45.3. 7d -17.5%, 30d -20.2%. Market cap $690M, rank 86; 87% below its $52.62 all-time high.
Odds — base-rate study (no INJ options market on Deribit): after a daily close down 8% or more, with symmetric 8% barriers ($7.36/$6.27) over 7 days, N=10: DOWN first 60%, UP first 40%. 7 days later the price was higher 6 of 10 times. Small sample — read it as a lean, not a forecast. Not a guarantee.
Plan: do not chase. Dip-long only $6.56-$6.81, stop on a daily close below $6.27. Breakout-long only on a daily close above $7.36. Targets $7.36 then $7.74. A daily close below $6.27 opens $5.81 (SMA200). Tiny size, spot only, no leverage. Confidence: Low.
#INJ #Injective #Crypto
Injective (INJ) is down 13.0% in 24h to $6.90 (range $6.56-$8.25, Binance volume $29.2M, 2.0x the 30-day average) at 08:51 PKT on 15 Nov. Yesterday it closed at $6.81, down 15.6% on the day — the 2nd-worst daily close in the past 400 days.
The live event: governance vote IIP-717 on the Veyra upgrade closes 16 Nov. Latest snapshot (13 Nov): turnout 33.03%, just 0.37pp short of the 33.4% quorum, with 70.91% voting yes. If it passes, Veyra targets activation on 24 Nov, adding institutional RWA tools and RFQ trading. Note: Veyra changes no tokenomics — no burn, no supply cut, no staking change. A separate dYdX vote to move USDC backing to Injective also ends 16 Nov.
Background: Injective halted block production on 9 Nov and Upbit suspended INJ deposits and withdrawals. Nasdaq approved the Canary INJ ETF listing on 4 Nov. The wider market is selling off too: BTC $64,947, ETH $1,820, Fear and Greed 10 (Extreme Fear).
Technicals (closed candles): EMA20 $7.74, SMA50 $7.79, SMA200 $5.81 — price below the first two, 19% above SMA200. RSI 14 is 45.3. 7d -17.5%, 30d -20.2%. Market cap $690M, rank 86; 87% below its $52.62 all-time high.
Odds — base-rate study (no INJ options market on Deribit): after a daily close down 8% or more, with symmetric 8% barriers ($7.36/$6.27) over 7 days, N=10: DOWN first 60%, UP first 40%. 7 days later the price was higher 6 of 10 times. Small sample — read it as a lean, not a forecast. Not a guarantee.
Plan: do not chase. Dip-long only $6.56-$6.81, stop on a daily close below $6.27. Breakout-long only on a daily close above $7.36. Targets $7.36 then $7.74. A daily close below $6.27 opens $5.81 (SMA200). Tiny size, spot only, no leverage. Confidence: Low.
#INJ #Injective #Crypto