Injective Price Plummets 10.2% Amid CLARITY Act Vote and Bitcoin Sell-Off
Injective's price plummeted by 10.2% over the past 24 hours, as a result of the failed CLARITY Act vote in the Senate and subsequent Bitcoin sell-off.
The token had initially rallied 6.45% from $5.90 to $6.28, but this momentum was short-lived due to the market's bearish sentiment shift.
A total of $637 million in liquidations occurred in the crypto markets over the past day, with $525.3 million being long positions, resulting in significant losses for most assets, including Injective.
Looking at the long-term price trends, it appears that Injective has been trending downward since 2025, when it fell below a crucial support zone around $16.15.
Despite this, the token has shown signs of recovery, and its 1-day price structure has been bullish since the 155% rally in April and May.