Injective (INJ) spikes 27% to a 1‑year high, hitting $9.20.
The broader cryptocurrency market turned green on October 16, but INJ outperformed Bitcoin and Ethereum with a 27% surge.
$INJ
reached almost $9.20 on CoinGecko, its highest level since October 2025, pushing market capitalization above $920 million and ranking it as the 85th‑largest cryptocurrency after overtaking Pi Network (PI).
The rally followed a Washington meeting between Injective’s CEO Eric Chen and officials from the White House, the SEC and the CFTC, where the company highlighted its tokenization framework built in collaboration with U.S. regulators.
CoinGecko cites a pending stakers’ vote on IIP‑709 for fixed gas fees and a revenue‑to‑FDV ratio that now exceeds other major chains as additional catalysts.
Analyst Ali Martinez noted a 30% price jump after a cup‑and‑handle breakout, projecting a target near $14, while the Relative Strength Index rose to nearly 80, a level that traditionally signals overbought conditions and possible short‑term correction.
Crypto GVR warned that volatility around the $9 level could be expected in the coming days.
Will INJ’s momentum hold or will the overbought RSI trigger a pullback?
#Crypto #Injective #Regulation #MarketAnalysis
The broader cryptocurrency market turned green on October 16, but INJ outperformed Bitcoin and Ethereum with a 27% surge.
$INJ
reached almost $9.20 on CoinGecko, its highest level since October 2025, pushing market capitalization above $920 million and ranking it as the 85th‑largest cryptocurrency after overtaking Pi Network (PI).
The rally followed a Washington meeting between Injective’s CEO Eric Chen and officials from the White House, the SEC and the CFTC, where the company highlighted its tokenization framework built in collaboration with U.S. regulators.
CoinGecko cites a pending stakers’ vote on IIP‑709 for fixed gas fees and a revenue‑to‑FDV ratio that now exceeds other major chains as additional catalysts.
Analyst Ali Martinez noted a 30% price jump after a cup‑and‑handle breakout, projecting a target near $14, while the Relative Strength Index rose to nearly 80, a level that traditionally signals overbought conditions and possible short‑term correction.
Crypto GVR warned that volatility around the $9 level could be expected in the coming days.
Will INJ’s momentum hold or will the overbought RSI trigger a pullback?
#Crypto #Injective #Regulation #MarketAnalysis