Injective launches CypherOS and Meridian Mainnet amid price dip
Injective (INJ)
Editor:
Eugene Serbin
Tradersunion.com reports that Injective (INJ) is trading at $7.8 following a 7.14% daily decline. The asset sits below its short- and medium-term moving averages but remains well above its long-term average. Coingape notes the completion of CypherOS, a native on-chain privacy layer featuring shielded transactions and confidential trading.
Hokanews reported that the Meridian Mainnet upgrade is now live, adding support for regulated tokenized securities. These enhancements aim to expand the user base through versatile transaction mechanisms. However, price action has remained under broader selling pressure despite the upgrades.
Technical indicators show the MACD in Sell mode with an ADX reading of Neutral. The RSI stands at 41.71, indicating oversold signals from Stoch RSI and CCI. Analysts previously suggested token buybacks could position the asset for upside, but current readings indicate increased downside risk. Immediate resistance is identified at the Ichimoku Kijun level of $8.06.
How the market reacted
Whalio's own Binance spot order flow for INJ, measured when this story was written up on 26 September 2026. Not the outlet's figures.
Whalio data shows INJ trading at $8.19, with a 1-hour buy ratio of 44.4% and a 4-hour buy ratio of 47.2%. These short-term figures are lower than the 24-hour buy ratio of 49.4%, suggesting that buying pressure is fading in the immediate term. The Volume Delta reflects this trend, showing negative values of -$82,311 for the 1-hour period and -$146,023 for the 4-hour period. This indicates that sellers are currently dominating the flow, pushing the price down against the buy side. Over the last 24 hours, the CVD closed at -$81,109, confirming that net selling has outweighed buying. Spot volume reached $17,714,271 across 297,339 trades, with net buying occurring in only 11 of the 24 hours.
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.
The preceding week provides a different perspective, with a 7-day average buy ratio of 50.0% compared to the current 24-hour reading of 49.4%. This slight dip of 0.6 points shows that today is marginally less bullish than the weekly average. Volume for the day was 0.71x the average, indicating a quieter trading session than usual. Over the past eight days, the price increased by 22.6%, supported by a total Volume Delta of +$195,628. While the long-term trend remains positive, today's lower volume and reduced buy ratio suggest a pause in the upward momentum seen over the week.