$INJ I’m positioned cautiously long-term but I won’t chase around 5.5. The official side recently confirmed that more than $1 billion in mortgage loan records have been moved onto Injective; yet the coin price is down about 13% over the past 24 hours. The project narrative is adding value, while the order book is subtracting—it’s not like the market is willing to pay a token premium directly for “assets being on-chain” just yet.
In the past 8 hours, open interest (OI) has dropped by about 6.2%. The latest 1-hour derivatives turnover is about $6.06 million, which is 1.7 times the previous hour. Large holders still have roughly 72% net long exposure, but the aggressive buy/sell ratio is only 0.87. The selloff is accompanied by deleveraging, but long positions haven’t been fully flushed out. More importantly, don’t mix up the figures: the $1 billion refers to the nominal size of mortgage loan records—not $1 billion of capital buying INJ, and it won’t automatically turn into token cash flows.
I’ll only wait for either a bounce that hits resistance at 5.62—5.74, or a 15-minute volume expansion and a breakdown below 5.41; if the 1-hour candle reclaims 5.75, my bearish view is invalidated. $INJ right now feels more like fundamentals got unfairly punished—or is the market “grading the correction” because good news doesn’t necessarily mean there’s buy-side demand? #INJ #Injective #RWA
In the past 8 hours, open interest (OI) has dropped by about 6.2%. The latest 1-hour derivatives turnover is about $6.06 million, which is 1.7 times the previous hour. Large holders still have roughly 72% net long exposure, but the aggressive buy/sell ratio is only 0.87. The selloff is accompanied by deleveraging, but long positions haven’t been fully flushed out. More importantly, don’t mix up the figures: the $1 billion refers to the nominal size of mortgage loan records—not $1 billion of capital buying INJ, and it won’t automatically turn into token cash flows.
I’ll only wait for either a bounce that hits resistance at 5.62—5.74, or a 15-minute volume expansion and a breakdown below 5.41; if the 1-hour candle reclaims 5.75, my bearish view is invalidated. $INJ right now feels more like fundamentals got unfairly punished—or is the market “grading the correction” because good news doesn’t necessarily mean there’s buy-side demand? #INJ #Injective #RWA
