- Injective experienced a significant surge in Total Value Locked (TVL), reflecting growing confidence in its blockchain.
- However, this has been overshadowed by persistent retail sell-offs, which continue to exert downward pressure.
After gaining 9.33% over the past month, Injective [INJ] is losing steam, with a 5.06% pullback in last week’s sessions. Daily losses have compounded the decline, with an additional 1.60% drop as shifting market sentiment drags its value further down.
Can INJ’s TVL surge drive a price rebound?
According to Chainbroker, Injective witnessed a staggering 61.2% increase in Total Value Locked (TVL) over the past seven days, pushing the metric to $2.52 billion—a clear sign of growing confidence in its ecosystem.
TVL, a key indicator of DeFi protocol performance, represents the total value of assets staked, lent, or provided as liquidity. While such surges often align with upward price momentum, INJ’s case breaks the mold.
Despite the impressive TVL growth, INJ’s price has dropped by 5.06% during the same period, suggesting waning confidence among market participants.
Further analysis attributes this price decline to sustained selling pressure from retail traders, overshadowing the blockchain’s expanding utility.
Retail traders turn bearish on INJ
Data from IntoTheBlock reveals increasing selling activity, with bearish sentiment among retail traders becoming more pronounced.
The average transaction size, which tracks the mean value of daily transactions, has declined over the past week, settling at $6,4
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Author: Olayiwola Dolapo
