Injective Token Surges on Record Staking Milestone

The Injective (INJ) token has surged in recent days, buoyed by a record-breaking staking milestone and the success of its community buyback program.

Over the past day, INJ's price increased by 4.22%, trading between $5.09 and $5.63 as market volume jumped 44.18% to reach $138.55 million.

The protocol's staking activity has reached an unprecedented level of over 58.8 million tokens secured on-chain, while the September Community Buyback program successfully burned 25,200 INJ tokens from circulation.

Market watchers project potential upward movement to $6.80 if INJ maintains its current support threshold at $5.30, with a longer-term perspective targeting $8.00.