Foreign media reports that Injective's token INJ surged on Friday, rising over 6% intraday, outperforming most mainstream crypto assets, following its expansion into regulated markets in Thailand. Market attention focused on both the project's new developments in Asia and the rebound in on-chain activity.
M-INJ launched in Thailand
The article mentions that Injective announced the launch of its regulated investment product, M-INJ, in Thailand. This product is open to both retail and institutional investors, providing access to the Injective ecosystem within a regulated framework.
This means the project is attempting to further connect crypto infrastructure with the traditional financial system. Foreign media believe that, given the market's increasing emphasis on compliance and practical applications, such developments may boost Injective's medium- to long-term visibility.
On-chain addresses rebounded
In addition to news, recent network data has also shown improvement. The article states that the daily active addresses and volatility levels of the Injective ecosystem have both increased, indicating a recovery in user and trader participation.
An increase in on-chain addresses does not necessarily lead to a sustained price increase, but during a price rebound, this type of data is often seen by the market as an early signal of recovering demand. For INJ, if on-chain usage and transaction activity continue to improve, short-term sentiment may be supported.
The market is eyeing the $7 mark.
From a technical perspective, the article points out that INJ recently broke through a downward resistance line that had persisted for several months, subsequently testing the $6.2 to $6.5 area, but encountered selling pressure in that range. After the pullback, the price is currently attempting to stabilize around $5.1 to $5.3.
Foreign media believe this area is important because it's close to a previous breakout point and coincides with recent moving average support. If the price can hold this area, the market will continue to watch whether it can regain $6.5 and further test the $7 level.
If the price falls below $5, the short-term rebound structure may be weakened, and market attention may shift back to the $4.50 area. Overall, the article's short-term outlook for INJ is relatively positive, but it also emphasizes that clearer price confirmation is still needed.
