Injective (INJ) Surges on Coinbase Integration and RWA Narratives

Injective (INJ) has seen a significant price increase of 5.4% over the past 24 hours, largely driven by Coinbase's transition to native INJ support and renewed interest in real-world asset (RWA) narratives surrounding Injective.

Coinbase now allows users to deposit and withdraw native INJ directly on the Injective network, eliminating the need for bridges or wrapped tokens. This change is expected to expand the addressable user base and improve perception of Injective as a 'first-class' network.

The integration of native INJ support on Coinbase's platform has been widely discussed in recent days, which may have contributed to the short-term speculative flows driving the price increase.

Separately, there is an active narrative around Injective as infrastructure for tokenized real-world assets and institutional rails. Pineapple Financial has migrated over 2,000 residential mortgage records worth more than $1 billion onto Injective, with plans to move another 29,000 mortgages worth over $10 billion onchain in the future.

The large INJ treasury held by Pineapple Financial, which is staked with Kraken as a primary validator, may also be contributing to the price increase. This removes some liquid supply and signals long-term alignment, often interpreted as bullish by holders.