Binance suspends INJ deposits for hard fork, Tom Lee eyes ETH highs
Injective (INJ)
Editor:
Eugene Serbin
Lookonchain.com reported that Binance will support the Injective network upgrade and hard fork, suspending INJ deposits and withdrawals starting at 22:00 Beijing time on September 24. The upgrade targets block height 184,394,000 and is expected to complete around 23:00 Beijing time on the same day. Binance will handle the technical work and will reopen deposits once the network stabilizes, with no separate announcement required for that step.
Spot trading for INJ remains unaffected during the upgrade process. In other market news, Tom Lee expressed bullish sentiment on Ethereum, suggesting it could challenge its previous high this year. He noted that gains led by crypto-related stocks signal the start of a bull market.
Security alerts highlighted that the MemTensor AI Memory Component was poisoned, executing a malicious program upon loading PyPI or npm packages. Additionally, CFTC Chairman stated it is time to act as U.S. regulators accelerate crypto rulemaking, with perpetual contracts taking center stage.
How the market reacted
Whalio's own Binance spot order flow for INJ, measured when this story was written up on 24 September 2026. Not the outlet's figures.
Injective is trading at $7.80 with a 1-hour buy ratio of 34.3%, indicating immediate selling pressure. This is lower than the 4-hour buy ratio of 43.9% and the 24-hour ratio of 46.9%, showing that buying interest is fading over shorter timeframes. The 1-hour volume delta is -$355,667, while the 4-hour delta is -$414,969, reflecting net outflows. Over the last 24 hours, the volume delta stands at -$1,630,953, confirming sustained selling dominance. The cumulative volume delta at the 24-hour close is -$900,001, highlighting a clear imbalance where sellers outweigh buyers. Spot volume reached $26,842,439 with 436,119 trades in the last day.
The latest daily buy ratio of 53.4% sits at the 91st percentile of the last 322 days, against a median of 49.8% - among the strongest buying days it has had.
Was that an ordinary day?
The same Binance spot measurements for INJ, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 50.1%, making today's 24-hour ratio of 46.9% slightly below the weekly norm by 3.2 points. Volume has been 1.32x the average, indicating heightened activity compared to typical days. The coin has seen a 44.2% price increase over the last 8 days, driven by flows into Bitcoin, Ethereum, and Hyperliquid. Net buying occurred on 3 of the 7 days, with a total volume delta of -$257,173 for the period. This suggests that while price has risen significantly, the recent day is an unusual one with lower buying pressure than the weekly average.