Injective Price Surges on Catalysts, Pulls Back Amid Market Softening
The price of Injective (INJ) rose significantly over the last 12 hours due to several positive catalysts. The Meridian mainnet upgrade, which was recently approved and is set to launch on Thursday, will bring institutional-grade real-world asset infrastructure and a new privacy-focused platform called CypherOS to Injective's ecosystem.
In addition to the Meridian upgrade, Injective has introduced a Community BuyBack program that commits user INJ to be burned permanently and distributed as revenue back to participants. The team has also extended this with Stockdrop, which allows participants to receive tokenized stocks on Robinhood Chain.
The 'INJ Supply Squeeze' governance upgrade doubles the protocol-level deflation rate and works in tandem with recurring burns from the Community BuyBack. This positions INJ as one of the more structurally deflationary majors.
Furthermore, INJ is now live as a canonical SPL token on Solana, listed on Raydium and Jupiter, and is being used as a quote asset for memes and new tokens on platforms like Pumpfun, Meteora, and LaunchOnSF.