The fact that a coin doesn’t drop on the day bad news comes out doesn’t mean it’s behind us. INJ has just played that lesson out again over the past couple of days.
Injective’s mainnet stopped producing blocks for more than four hours on the evening of November 9. It was the second time in ten weeks, and several South Korean exchanges promptly suspended INJ deposits and withdrawals. The price barely reacted at the time, and was even up 3% to around 8.3 on the 11th. But today it’s catching up on the downside: CoinGecko shows a roughly 9% drop over 24 hours, with the price now around 7.53. The next thing to watch is the mainnet upgrade on November 17. If anything goes wrong again, confidence will be even harder to rebuild.
ARB is a different kind of slow bleed. It’s now around 0.151, down nearly 8% in a day, while BTC has been basically flat at around 73,700. Two unresolved issues are weighing on it: the roughly $30 million in assets frozen at the end of October is still awaiting a DAO vote, and another token unlock is due this weekend, though sources disagree on the exact amount.
The bumps I’ve hit over the years have taught me a habit: if a coin doesn’t fall on the day of bad news, I’m actually more cautious, because people trying to buy the dip often get caught when the delayed drop finally comes. So I’m just watching these two, not buying either—at least until the upgrade and unlock are behind us.
Curious to hear what you think: when a coin only starts dropping gradually after something goes wrong, do you keep buying as it falls, or wait until the situation is resolved?
$INJ $ARB $BTC
This is only my personal opinion and is not investment advice. Manage your own positions.
Injective’s mainnet stopped producing blocks for more than four hours on the evening of November 9. It was the second time in ten weeks, and several South Korean exchanges promptly suspended INJ deposits and withdrawals. The price barely reacted at the time, and was even up 3% to around 8.3 on the 11th. But today it’s catching up on the downside: CoinGecko shows a roughly 9% drop over 24 hours, with the price now around 7.53. The next thing to watch is the mainnet upgrade on November 17. If anything goes wrong again, confidence will be even harder to rebuild.
ARB is a different kind of slow bleed. It’s now around 0.151, down nearly 8% in a day, while BTC has been basically flat at around 73,700. Two unresolved issues are weighing on it: the roughly $30 million in assets frozen at the end of October is still awaiting a DAO vote, and another token unlock is due this weekend, though sources disagree on the exact amount.
The bumps I’ve hit over the years have taught me a habit: if a coin doesn’t fall on the day of bad news, I’m actually more cautious, because people trying to buy the dip often get caught when the delayed drop finally comes. So I’m just watching these two, not buying either—at least until the upgrade and unlock are behind us.
Curious to hear what you think: when a coin only starts dropping gradually after something goes wrong, do you keep buying as it falls, or wait until the situation is resolved?
$INJ $ARB $BTC
This is only my personal opinion and is not investment advice. Manage your own positions.