Injective Protocol's IIP-617 Passes, Reducing INJ Issuance for Deflationary Strategy
- Tokenomics Overhaul: Injective Protocol's IIP-617 proposal passed with 99.89% support, implementing a tokenomics overhaul that reduces INJ issuance while preserving the buyback-and-burn mechanism, thereby accelerating token removal from circulation and enhancing long-term deflationary dynamics.
- Token Burn Progress: Approximately 6.85 million INJ have been removed through the burn mechanism, with the new proposal aimed at accelerating this pace by syncing issuance with buybacks, further enhancing token scarcity and attracting institutional investor interest.
- Regulatory Product Advancement: Following the IIP-617 vote, Injective continues to attract interest from regulated markets, with two fund sponsors filing for a staked INJ ETF, indicating a growing demand for crypto assets among traditional market participants.
- Validator Network Expansion: Injective's validator network is expanding, with Deutsche Telekom's IT services arm and Korea University becoming new validators, highlighting the project's appeal to enterprise-grade participants and promoting its application in decentralized financial solutions.
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Technical Analysis for INJ
Technical Sentiment Analysis for Injective (INJ) As of , Injective (INJ) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for INJ stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, INJ is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Injective (INJ) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1.328 | 1.989 | 2.686 | 3.347 | 4.044 | 4.705 | 5.402 |
| Fibonacci | 1.989 | 2.508 | 2.828 | 3.347 | 3.866 | 4.186 | 4.705 |
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