Why Is Injective (INJ) Price Surging Today?
Photo: Coincu
Injective (INJ) is trading at $9.13 as of October 16, 2026, up 24.46% in the prior 24 hours, a move backed by accelerating exchange outflows over the past week even as on-chain transfer volume shows significant wash-trading activity that complicates any clean read of organic demand. Reported 24-hour trading volume reached $294 million across 73 exchanges, with Binance alone contributing $51.3 million. However, on-chain analysis flags 87.5% of transfer volume as wash trading, with 608 wallets flagged across net-zero, roundtrip, cycle, and sybil-cluster patterns, meaning the $294 million headline figure overstates genuine liquidity by a material margin; estimated legitimate volume…
Source: Coincu
