Injective (INJ) has shown remarkable growth since December 2023 and recently reached a new all-time high (ATH). The current price of INJ is $48.8, with a 15% increase in the last 24 hours. On March 13, INJ hit a new ATH of $52.65 at 01:00 UTC, with a market cap of $4.92 billion.

It is worth noting that this is the second time in the past two weeks that INJ has achieved record highs, in line with the ongoing market-wide bullish trend.

According to data from Santiment, whale transactions involving at least $100,000 worth of INJ tokens have increased by 90% in the past day, from 56 to 106 unique transactions. This surge in whale activity often leads to higher price volatility.

Additionally, Santiment data reveals that the exchange flow balance of Injective has been steadily decreasing since March 9. Investors have moved over 134,000 INJ tokens, equivalent to $6.6 million, from exchanges to self-custodial wallets in the past 24 hours. This accumulation indicates a shift towards long-term investment strategies over short-term gains.

INJ’s Relative Strength Index (RSI) has also seen a 7% rise in the past 24 hours, climbing from 61 to 65. This suggests that INJ may be slightly overbought at the moment, and an RSI below 60 could indicate a bullish momentum.

For more insights and updates on the cryptocurrency market, visit Global Crypto News.

Post Views: 8