The cryptocurrency Injective (INJ) has experienced a significant price increase of over 12%, following the recent approval of the IIP-619 governance proposal. This proposal enhances Injective’s MultiVM EVM architecture, expected to improve the platform’s performance and functionality. Alongside this development, Pineapple Financial (DAT) has acquired nearly 7% of Injective’s total supply, signaling renewed institutional investor interest. Injective is a blockchain protocol specifically designed for decentralized exchanges (DEXs), offering fast, low-cost, and reliable trading. Its EVM-compatible MultiVM technology allows users and developers to run smart contracts on various virtual machines, enhancing flexibility and efficiency. Despite these positive trends and increased on-chain activity, Injective’s price remains approximately 90% below its all-time high, reflecting the broader altcoin market downturn and cautious investor sentiment. To restore confidence and stabilize its price, Injective will require further technical and governance updates amid current market conditions. Overall, Injective’s advanced technology and growing institutional investment may support improved future performance, though market uncertainty and competitive pressures present ongoing challenges.
Source: binance
