- •INJ fell 25.89% to $8.99 after recent market selloffs.
- •Pineapple Financial begins $100M Injective Treasury with $8.9M buy.
- •Injective staking offers 12.75% APY, nearly double Ethereum yields.
Injective (INJ) saw a sharp decline in the past 24 hours, falling 25.89% to $8.99, according to CoinMarketCap data. The token dropped from around $12.12, showing strong selling pressure across the market.
Analysts observed that the asset found short-term support near $8.50, while resistance sits between $10.00 and $10.50.
Earlier, market analyst Friedrich shared a chart suggesting that Injective may have reached a bottom, expecting a rebound toward the $24–$25 range. However, with current volatility, traders remain cautious as both institutional entries and profit‑taking drive short‑term movements.
Pineapple Financial Launches $100M Injective Treasury
Amid the broader crypto downturn, Pineapple Financial ($PAPL) announced the launch of its $100 million Injective Digital Asset Treasury. The initiative began with an $8.9 million open‑market buy totaling 678,353 INJ, as reported by analyst @wavymaverick.
All acquired tokens will be staked on‑chain, generating an estimated annual yield of 12.75%, which is almost double Ethereum’s 6.9% and higher than Solana’s 7%. Pineapple Financial aims to become the largest INJ holder and staker, positioning Injective as a productive yield‑based asset rather than a speculative token.
Institutional Entry and Onchain Finance Outlook
Injective’s co‑founder Eric Chen described the development as “a key step toward institutional onchain finance.” He added that Pineapple’s move supports the creation of the world’s first onchain digital asset treasury ecosystem, joining investors such as Kraken, FalconX, and Canary Capital.
Analysts interpret Pineapple’s strategy as a vote of confidence in Injective’s network utility, particularly within decentralized finance. Despite the price decline, institutional participation indicates a growing focus on sustainable onchain exposure and staking‑based income.
At press time, Injective trades at $8.99, showing temporary stabilization after the sharp drop. Market participants are closely watching whether the token can reclaim the $10 resistance zone and regain momentum in the coming sessions.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.