Injective's Staked Supply Surges to New Highs Amid Growing Participation

Injective's staked supply has reached an all-time high of 58.8 million tokens, surpassing its 2023 peak of around 42 million.

This growth in staking participation may influence market supply, as more tokens are tied up and fewer available for trade.

The Injective price has pushed above the $6 to $6.20 resistance zone, with technical indicators shifting to a bullish configuration.

As the token gains momentum, the question remains whether it can sustain its move and reach the nearby resistance levels.