• Injective price extends its gains on Tuesday after rallying more than 25% in the previous week.
  • The recent announcement of INJ 3.0 focuses on significantly decreasing the token supply.
  • On-chain data further boosts the bullish outlook as INJ’s Total Value Locked and Open Interest are rising. 

Injective (INJ) price extends its gains for the seventh day in a row, trading above $26 on Tuesday after rallying more than 25% the previous week. The announcement of the INJ 3.0 upgrade on Sunday, which focuses on significantly decreasing the token supply, could further fuel the ongoing rally. Moreover, INJ’s on-chain metrics boost the bullish outlook as its Total Value Locked (TVL) and Open Interest (OI) are rising.

Injective 3.0 upgrade could boost INJ’s bullish outlook

Injective announced that its governance proposal to begin the next phase of INJ 3.0 passed on Sunday.

Injective 3.0 upgrade aims to dramatically decrease the supply of INJ, which will continue until Q1 2026, making INJ one of the deflationary digital assets. This supply shock is expected to increase the token’s value as demand increases.

Injective price action looks promising

Injective price broke above the daily resistance at $23.46, closed above the 50-day Exponential Moving Average (EMA) around $24.41 on Sunday, and rallied 10% until Monday. At the time of writing on Tuesday, it trades in green around $26.19.

If the upward momentum continues, INJ could extend the rally to retest its next daily resistance level at $31.12, marking an additional 18% gain from current levels.

The Relative Strength Index (RSI) on the daily chart reads at 58, above its neutral level of 50, indicating bullish momentum. Moreover, the Moving Average Convergence Divergence (MACD) indicator shows a bullish crossover on Friday, signaling a continuation of the uptrend.

INJ/USDT daily chart

INJ/USDT daily chart

Injective on-chain metric shows positive bias

Looking at Injective’s Open Interest (OI) further boosts the bullish outlook. Coinglass’s data shows that the futures’ OI in INJ at exchanges rose from $116.42 million on January 1 to $197.74 million on Tuesday, the highest level since December 16. An increasing OI represents new or additional money entering the market and new buying, which suggests a rally ahead in the Injective price.

INJ Open Interest chart. Source: Coinglass

INJ Open Interest chart. Source: Coinglass

Additionally, data from crypto intelligence tracker DefiLlama shows that INJ’s TVL increased from $50.54 million on January 1 to $65.51 million on Monday, constantly rising since the end of December.

This 29.6% increase in TVL indicates growing activity and interest within the Injective ecosystem. It suggests that more users deposit or utilize assets within INJ-based protocols, adding credence to the bullish outlook.

Injective TVL chart. Source: DefiLlama

Injective TVL chart. Source: DefiLlama


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

EOS 22% pump steals the show unveiling Vaulta’s web3 banking ecosystem

EOS 22% pump steals the show unveiling Vaulta’s web3 banking ecosystem

EOS, the token behind the recently rebranded Vaulta network, has increased by a staggering 22% in the last 24 hours.

More EOS News
Curve DAO Price Forecast: CRV bulls could aim for double-digit gains above key resistance

Curve DAO Price Forecast: CRV bulls could aim for double-digit gains above key resistance

Curve DAO (CRV) price is in the green, up 8%, trading above $0.53 on Thursday after rallying nearly 15% so far this week.

More Curve DAO News
Bitcoin price reacts as Gold sets fresh record highs after Trump’s reciprocal tariffs announcement

Bitcoin price reacts as Gold sets fresh record highs after Trump’s reciprocal tariffs announcement

Bitcoin price plunges towards $82,000 as Gold soars past $3,150 after US President Donald Trump imposed new tariffs on Israel and UK, triggering global markets turbulence.

More Bitcoin News
Bitcoin and top altcoins slide as Trump kicks off reciprocal tariffs

Bitcoin and top altcoins slide as Trump kicks off reciprocal tariffs

Bitcoin (BTC) and the entire crypto market saw a quick correction on Wednesday following President Donald Trump's reciprocal tariff announcements based on half of each country's respective rates.

More Cryptocurrencies News
Bitcoin: BTC remains calm before a storm

Bitcoin: BTC remains calm before a storm

Bitcoin's price has been consolidating between $85,000 and $88,000 this week. A K33 report explains how the markets are relatively calm and shaping up for volatility as traders absorb the tariff announcements. PlanB’s S2F model shows that Bitcoin looks extremely undervalued compared to Gold and the housing market.

Read full analysis
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

BTC

ETH

XRP