INJ Surges Past $6 After Record Staking and Token Burn
Injective (INJ)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that Injective (INJ) has gained 4.22% in the last day, trading near $5.09 with a market capitalization of roughly $509.92 million. The token recently recovered from a mid-August low of $3.95 and currently sits above its 20-day moving average of $5.03. On-chain data shows over 58.8 million INJ tokens are now staked, making it a leading L1 chain by staked supply.
The protocol also concluded its September Community Buyback, permanently removing 25,200 INJ from circulation. Derivatives data indicates a 44.18% volume increase to $138.55 million, while open interest rose 4.88% to $97.84 million. Analyst chief of overthinking suggests INJ is challenging long-term support that previously preceded rallies to $25 and $45, with a potential breakout toward $80–$90.
Market commentator The Moon Show noted the chart structure allows for moves most traders are not positioned for. Medium-term projections give a 61% confidence for a move to $6.80 if $5.30 holds, while long-term views see $8.00 as achievable if $4.30 support remains intact.
How the market reacted
Whalio's own Binance spot order flow for INJ, measured when this story was written up on 8 September 2026. Not the outlet's figures.
Whalio spot data shows INJ trading at $6.18, with a 1-hour buy ratio of 50.1% and a 4-hour ratio of 59.5%, compared to a 24-hour ratio of 52.8%. The 4-hour buy ratio exceeds the daily average, indicating that buying pressure is building in the short term. Volume delta is positive across all timeframes, with a 24-hour delta of +$1,311,781, confirming net accumulation. The Cumulative Volume Delta (CVD) for the 24-hour close is +$3,027,596, showing consistent aggressive buying. Net buying occurred for 20 of the last 24 hours, with spot volume reaching $23,528,008. This flow suggests sustained demand rather than a fleeting spike in activity.
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 current 24-hour buy ratio of 52.8% is 5.6 percentage points higher than the 7-day average of 47.2%. Spot volume today is 3.82 times the weekly average, marking an unusually high level of trading activity. While the preceding week saw net buying on only 3 of 7 days, today’s flow represents a sharp deviation from that pattern. This surge in volume and buy ratio contrasts with the negative 8-day volume delta of -$1,326,000, suggesting a reversal of recent outflows. The price change over the past 8 days stands at +25.4%, highlighting the recent momentum shift.