Injective (INJ) gained 10% in the early hours of October 10th, driven by bullish trading activity and sustained perpetual buying pressure. Open Interest reached $164.24 million, up $34.88 million in 24 hours, while the Taker Buy/Sell Ratio stood at 1.14, indicating buyer dominance. The OI-Weighted Funding Rate remained positive at 0.0160%, supporting a bullish positioning bias. Cumulative Spot Netflow reached approximately -$1.6 million over five days, with exchange withdrawals suggesting reduced readily available supply. ETF applications by 21Shares and Canary, alongside an updated white paper under Europe’s MiCA regulation, represent potential catalysts for sustaining investor interest.
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