[Injective (INJ) Rebound: Investor Momentum Sparks 12% Rebound]
Injective’s native token, INJ, is up more than 12% in the past 24 hours, a rally that can be attributed in part to an unexpected rally in the market and a market capitalization that has recovered more than 6% from the lows seen earlier this week.
The backlash is closely tied to Injective’s recent success, sparking concern both within and outside the community. Today, Utila, which specializes in institutional wallets and blockchain infrastructure, announced its support for the Injective ecosystem, emphasizing that its plug-and-play infrastructure can quickly deploy a variety of advanced features, such as decentralized exchanges and real assets (RWAs).
This support will help Injective attract institutional-level attention and expand its user base beyond retail investors and crypto enthusiasts. As traditional finance’s interest in cryptocurrencies increases, the potential of Injective’s platform will become even more prominent.
Currently, INJ's price is trading at levels seen in late November 2023, and if the market continues to rebound, investors could see significant gains over the long term. However, INJ encountered slight resistance at $18.02, which may slow the upward momentum, causing the price to trade between $18.02 and $21.16.
While optimism in traditional financial markets is likely to continue, analysts warn that the rally could be a sell-off that could be followed by a sharp decline. Long-term investors still need to remain vigilant to deal with potential market fluctuations.
