Injective Proposal 709 Nears Unanimous Approval
Injective (INJ)
Editor:
Eugene Serbin
cryptocurrency.com.tr reports that Injective’s proposal 701, the Meridian upgrade, has received approximately 99% affirmative support as the vote nears its close. Submitted on September 18 by an Injective Labs team member, the upgrade adds regulated token deployment support to the EVM. If the vote concludes favorably on September 22 at 17:02 UTC, the chain will halt at block 184394000 on September 24 at around 15:00 UTC. Operations will resume under version 1.20.4 of the Injective Chain binary following the halt.
How the market reacted
Whalio's own Binance spot order flow for INJ, measured when this story was written up on 21 September 2026. Not the outlet's figures.
INJ trades at $7.79 with a 1-hour buy ratio of 62.7%, indicating strong immediate buying pressure that contrasts with the 48.9% ratio seen over the 4-hour and 24-hour windows. The 1-hour volume delta is positive at +$420,513, while the 4-hour and 24-hour deltas are negative at -$100,291 and -$462,388 respectively. This divergence suggests that while recent trades favor buyers, the broader daily trend shows net selling. The buy ratio measures the proportion of buy volume relative to total volume, while the volume delta tracks the net difference between buy and sell volume. The 24-hour cumulative volume delta (CVD) sits at +$1,005,662, with net buying occurring in 13 of the last 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.
Over the preceding week, the average buy ratio was 49.5%, with the latest day showing a slight dip of 0.7 points. Trading volume was 1.39 times the average, indicating significantly higher activity than usual. The coin experienced a 31.9% price increase over eight days, despite a total volume delta of -$148,804 for the period. Net buying occurred on 4 of the 7 days. This elevated volume and price surge mark an unusual period compared to the standard weekly baseline.