Performances
RD Popularity Index
RD Growth Index
| 1h | 24h | 7d | 30d | 60d | 90d |
|---|---|---|---|---|---|
| 0.34% | 2.79% | 15.23% | 11.22% | 34.52% | 88.39% |
Comparison
Investment
Tokenomics
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Top Holders
| Address | Token | Quantity | 7d | Percentage | Value |
|---|---|---|---|---|---|
| Injective: Peggy Bridge Proxy (d6f3) |   INJ | 94,951,348.13 | 1,663.250% | 94.95% | $788.04M |
| 0xafcd...c5da | INJ | 600,000 | -- | 0.6% | $4.97M |
| Bybit: Hot Wallet (aa40) | INJ | 160,867.83 | -3,144.6-1.92% | 0.16% | $1.33M |
Open Markets
| # | Exchange | Pair | Price | +2% depth | -2% depth | Volume (24h) | volume % |
|---|---|---|---|---|---|---|---|
| 1 | CCoinspaceDEX | INJ/USDT | $8.34 | $1,767,941 | $1,614,599 | $15,060,760 | 12.44% |
| 2 | BBinanceCEX | INJ/USDT | $8.33 | $300,702 | $323,665 | $14,982,221 | 12.37% |
| 3 | AAstralXDEX | INJ/USDT | $8.34 | $52,022 | $80,298 | $11,102,815 | 9.17% |
| 4 | BBTCCDEX | INJ/USDT | $8.35 | $2,562,819 | $1,214,357 | $7,490,572 | 6.18% |
| 5 | INJ/USD | $8.36 | $194,198 | $329,263 | $5,865,006 | 4.84% | |
| 6 | BBitDeltaDEX | INJ/USDT | $8.36 | $9,883 | $16,390 | $5,473,323 | 4.52% |
| 7 | GGateCEX | INJ/USDT | $8.35 | $221,406 | $346,082 | $5,105,393 | 4.22% |
| 8 | MMEXCCEX | INJ/USDT | $8.33 | $40,049 | $37,238 | $4,844,938 | 4.00% |
| 9 | OOurbitDEX | INJ/USDT | $8.34 | $143,381 | $166,028 | $4,479,743 | 3.70% |
| 10 | HHotcoinDEX | INJ/USDT | $8.35 | $1,048,411 | $1,338,088 | $4,395,552 | 3.63% |
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About Injective
Injective is a Cosmos SDK-based Layer1 that puts an order book, derivatives and oracles at the protocol layer, targeting on-chain finance and institutional compliance. It solves public chains' inability to natively support order-book matching and regulated assets, using a Tendermint-class consensus for finality and a native EVM where Solidity contracts share state with WASM; its cross-chain messaging layer (such as CCTP) brings native USDC onchain, and the Meridian upgrade adds regulated token standards and on-chain compliance.
In October 2026 Injective shipped the Meridian mainnet upgrade, strengthening RWA tokenization and on-chain compliance, with tokenized RWA value on the network above $1 billion. Its institutional compliance path is clear, but the token still lags the expectations set by partnerships, and whether compliance and RWAs convert into real fee revenue is the next test.
Eric Chen and Albert Chon founded Injective in 2018 in Binance Labs' first incubation cohort, choosing the Cosmos SDK to put an order book, derivatives and oracles at the protocol layer. INJ's token generation and Binance Launchpad sale followed in October 2020.
Mainnet launched on November 8, 2021, and flagship app Helix passed $1 billion in volume quickly. In August 2022 Jump Crypto and BH Digital led a $40 million round; in January 2023 Pantera, Jump and Kraken Ventures set up a $150 million ecosystem fund.
In April 2024 governance approved INJ 3.0, tightening inflation bounds and tying burns more closely to on-chain activity; the token had hit an all-time high of $52.62 that March. On November 11, 2025, a native EVM mainnet launched, letting Solidity contracts share state and liquidity with WASM modules.
In 2026 Injective productised institutional compliance: Injective Mint launched in July, its institutional arm became an SEC-registered transfer agent on August 19, and the Meridian upgrade went live on September 24 after passing with about 99% support, adding regulated token standards on the EVM. Cumulative on-chain RWA volume reached $6.8 billion.
Native USDC and Circle's CCTP went live on May 7; on September 17 INJ reached Solana through Sunrise; and Stockdrop on September 22 merged buyback burns, ecosystem revenue and stock-token rewards.
The token has not kept pace. In October 2026 INJ traded near $8.1, more than 80% below its 2024 peak, with a market value of about $800 million; valuation still lags the institutional promise, and whether compliance and RWAs convert into real fees is the next test.
On burns and incentives, the monthly Community BuyBack (Supply Squeeze) introduced by governance proposal IIP-617 continued to run alongside the weekly burn auction through 2026; the August round targeted over 33,000 INJ and the September round burned 25,200 INJ, bringing cumulative burns above 7.19 million by mid-year. The proposal also tightened annual issuance parameters to 2.2%-4.4%, reinforcing the deflationary bias.
On progress, the IIP-665 hard fork went live on July 3 with performance, security and economics improvements, and Binance pledged full support, sending INJ up over 7% in a day above $5; in August South Korea's POSCO International and LG CNS selected Injective for an on-chain trade-finance pilot.
On October 10 the Meridian mainnet upgrade strengthened RWA tokenization and on-chain compliance capabilities, with tokenized RWA value on the network exceeding $1 billion; in September expectations of a US spot INJ ETF lifted the price 6.5% in a day to $8.18.
On July 16, 2026 Injective filed with the US SEC to register as a transfer agent; on July 27 POSCO International and LG CNS chose it for a live pilot tokenising trade receivables; on August 4 LI.FI added support for its MultiVM environment and Four Pillars launched an institutional validator; on August 19 Injective Institutional Services became an SEC-registered transfer agent; and on September 2 it launched Injective Mint, a one-stop issuance platform for institutions.
The Meridian mainnet upgrade (IIP-701) passed on September 24 with about 99% staker support, adding regulated token standards on the EVM layer that embed compliance and transfer restrictions in the token itself, plus an exchange precompile, private request-for-quote testing and tighter oracle and risk controls; in October the project published the first full rewrite of its whitepaper in eight years, setting out the iAssets derivatives system, AI agents operating onchain assets through MCP and x402, and a deflationary model of revenue buybacks and staking burns. The ecosystem reports $6.8 billion in cumulative RWA volume, over $1 billion of tokenised assets issued and 56.9 million INJ staked, and partnered with BDACS to bring KRW1, Korea's first won stablecoin, in as an RWA settlement asset.
Future strategy and roadmap: Injective published the first full rewrite of its whitepaper in eight years on 7 October, recasting itself from a general-purpose chain into a finance-native L1: tokenised assets are issued, priced, traded and settled on one chain, and protocol revenue feeds recurring community buybacks that permanently burn INJ, so value capture is written into the architecture rather than propped up by incentives. Scale already includes more than $1 billion of mortgage records onchain and over $5.3 billion in cumulative RWA perpetual volume since early 2025; Canary's staked INJ ETF, if approved with BitGo custody and more than 90% of INJ staked, would become the distribution channel bringing institutional money into that buyback mechanism.
Eric Chen is co-founder and CEO. He studied finance at NYU Stern before dropping out at 19, was a researcher at Innovating Capital, and founded Injective in 2018, taking it through Y Combinator.
Albert Chon is co-founder and CTO. He holds an MSc in computer science from Stanford, was a software engineer at Amazon and a consultant at OpenZeppelin, co-founded Injective in 2018 and runs the protocol engine development.
Mirza Uddin is Head of Business Development. A Harvard graduate, he worked in venture roles at East Ventures and Index Ventures and led crypto investing at Two Sigma, joining in July 2020 to drive institutional expansion.
David Josse is Head of Engineering. He holds a BSc in computer systems engineering from Rensselaer Polytechnic Institute, spent a decade as Goldman Sachs global head of data engineering and was CTO of 21.co and Symbridge, scaling the team.
Noah Axler is General Counsel. His track record begins in blockchain regulatory and securities compliance work; at Injective Labs he oversees protocol legal, regulatory engagement and commercial contracts.
Injective's exchange module enforces a global minimum trading fee of 0.1% for makers and 0.2% for takers on traded value, with 40% of each fee shared to the exchange dApp that originated the order.
Injective applies negative maker fees on 17 governance-approved markets, where makers earn a -0.01% rebate and takers pay 0.1%, covering perpetuals such as BTC/USDT, ETH/USDT and INJ/USDT.