While Bitcoin sits near $69,000, $INJ is up ~10% today — and the reason isn't the tape. It's a vote that hasn't passed yet.
I'm watching Injective vote on Veyra — real-world asset rails, cross-chain swaps, request-for-quote trading. 62% of the ~14 million INJ voted so far say yes. But turnout still sits below the 33.4% quorum, so the vote hasn't passed.
The ETF side already delivered: Canary's staked INJ ETF began trading on Nasdaq November 5, and INJ gained while Bitcoin fell. Futures open interest has climbed to ~$140 million from ~$125 million earlier this month.
The ladder: $8.40–$8.58 first, then $10. The floor: $7.80–$8.00, backed by the 20- and 50-day averages near $7.50.
I'm not fully comfortable, though: Stochastic RSI and CCI are already overbought, and a 10% green day can fade fast if Bitcoin keeps sliding.
A daily close under $7.80 kills this read.
What settles it for you — turnout crossing 33.4%, or a daily close above $8.58?
NFA, DYOR.
$INJ $BTC #DeFi #Injective #ETF #VeyraUpgrade
I'm watching Injective vote on Veyra — real-world asset rails, cross-chain swaps, request-for-quote trading. 62% of the ~14 million INJ voted so far say yes. But turnout still sits below the 33.4% quorum, so the vote hasn't passed.
The ETF side already delivered: Canary's staked INJ ETF began trading on Nasdaq November 5, and INJ gained while Bitcoin fell. Futures open interest has climbed to ~$140 million from ~$125 million earlier this month.
The ladder: $8.40–$8.58 first, then $10. The floor: $7.80–$8.00, backed by the 20- and 50-day averages near $7.50.
I'm not fully comfortable, though: Stochastic RSI and CCI are already overbought, and a 10% green day can fade fast if Bitcoin keeps sliding.
A daily close under $7.80 kills this read.
What settles it for you — turnout crossing 33.4%, or a daily close above $8.58?
NFA, DYOR.
$INJ $BTC #DeFi #Injective #ETF #VeyraUpgrade
