Read this article on bsc.news Injective ($INJ), the token behind @injective, was the best performer among CoinGecko's top 100 coins on Wednesday, rising nearly 8.66% over 24 hours to $7.93 as
Injective ($INJ), the token behind @injective, was the best performer among CoinGecko's top 100 coins on Wednesday, rising nearly 8.66% over 24 hours to $7.93 as the wider crypto market recovered.
INJ traded between $7.01 and $7.96 during the session on about $90 million in volume, lifting its market capitalisation to roughly $792 million. Stacks and Pearl followed closely behind, with gains of 8.5% and 8.1% respectively.
The advance came as larger assets recovered. Bitcoin ($BTC) gained 3.3% to about $80,200 over the same 24-hour period, while Ether ($ETH) rose 5.8%. The Block reported that Bitcoin moved back above $80,000 on November 4 and that Ether jumped nearly 6%, with crypto stocks also rallying.
Trading activity picked up alongside prices. According to The Block, crypto futures volume climbed 27% while open interest rose just 3%, suggesting the move was not built on a sharp increase in leverage.
Decentralised finance (DeFi) tokens were among the stronger performers. CoinDesk reported that its DeFi Select Index rose around 5%, with Injective posting a 6.2% gain at the time of writing. All seven members of the index were higher, with Injective and Ethena (ENA) leading.
Technical analysis suggests INJ still faces resistance near current prices. Blockchain.News noted that the token was trading below its 20-day average at the time of its analysis, with $7.92 identified as the level to clear. The outlet said a hold above $7.43 and a push through $7.89 would put $8.14 in view, while a slip below $7.43 could see price revisit $7.18 and then $6.71. The analysis describes conditional scenarios and not investment advice.
Figures vary slightly between data providers and time stamps, as prices moved through the day. Readers should check live data before making any trading decisions.
CoinDesk: Bitcoin rebounds from midterm dip as DeFi leads gains
The Block: Bitcoin rebounds past $80,000 as markets shrug off midterms and Binance hack
Blockchain.News: INJ Price Prediction, rebound holds but $7.92 remains the line to clear
