INJ (Injective) rose by 0.55% in the last 24 hours.

Gate News Bot news, on October 14, according to CoinMarketCap data, as of the time of writing, INJ (Injective) is currently priced at $9.50, with a rise of 0.55% in the last 24 hours, peaking at $13.20 and dropping to a low of $3.75. The current market capitalization is approximately $950 million, an increase of $5.2 million compared to yesterday. Currently, INJ ranks 75th in global crypto assets market capitalization.

Injective is a blockchain platform designed for financial and Web3 innovation. It offers pre-built modules that abstract technical complexity, enabling developers to build high-performance applications more quickly. Injective supports dynamic smart contracts and multiple virtual machine environments, aiming to create a fully decentralized, transparent, and permissionless financial system.

Important news about INJ recently:

1️⃣ Pineapple Financial launches large-scale Injective investment strategy Pineapple Financial officially launched a $100 million Injective Crypto Assets treasury strategy. This initiative demonstrates strong confidence from institutional investors in the Injective ecosystem, which is expected to bring continuous buying pressure and price support for INJ.

2️⃣ Large Amount INJ Token Purchase and Staking As part of its strategy, Pineapple Financial has acquired 678,353 INJ coins on the open market, with a total value of approximately 8.9 million USD. This large transaction not only directly increases the market demand for INJ but may also impact its circulating supply.

3️⃣ On-chain staking activities increase Pineapple Financial plans to deploy all purchased INJ tokens on-chain for staking. This action will significantly increase the total staking amount of the Injective network, helping to enhance the security and decentralization of the network, while also potentially reducing the circulating supply of tokens in the market.

From a technical perspective, the price of INJ has shown significant volatility in the past 24 hours, with a notable gap between the highest and lowest prices. This volatility may be related to the aforementioned institutional investment activities, and investors should closely monitor subsequent price trends and trading volume changes.

This message is not investment advice; investors should be aware of market volatility risks.