In a recent development, Injective, a prominent player in the blockchain industry, announced that Galaxy, one of the largest Web3 institutions, has officially joined as a validator. This news, announced via X on Thursday, is a significant move in the blockchain and cryptocurrency landscape.

However, despite this seemingly positive development, the overall market sentiment remains pessimistic. The global regulatory environment for blockchain and cryptocurrencies continues to be uncertain and challenging. This has the potential to significantly impact the operations of blockchain companies and crypto exchanges, including Injective and Galaxy.

The entry of Galaxy as a validator in Injective does bring a certain level of credibility and potential stability to the platform. However, the broader market conditions and regulatory uncertainties cannot be ignored. The future of blockchain and cryptocurrencies remains uncertain, and this development, while noteworthy, does not change the overall market outlook.