Injective Burns 7.2M INJ Tokens, Fueling Price Speculation Amid Revenue Growth
Injective Protocol has burned over 7.2 million INJ tokens, linking ecosystem revenue to token burns and rewards.
Injective Protocol has burned over 7.2 million INJ tokens, linking ecosystem revenue to token burns and rewards. Injective (INJ) is trading at ₹748 ($7.91). This is an original Token Times brief based on reporting by TronWeekly, with live market data added, as of Fri, 23 Oct 2026 00:30:01 UTC.
The token burn mechanism ties ecosystem revenue directly to token scarcity, potentially supporting price growth while rewarding participants. This model could influence similar protocols.
- Injective burned 7.2M INJ tokens via its Community BuyBack mechanism.
- Current price is $7.91, with analyst projecting $100 by 2029.
- Resistance at $9.50–$10.50 and support at $2.70–$3.20.
- Market cap stands at $791.54M amid broader market downturn.
Injective Protocol has executed a significant token burn of over 7.2 million INJ tokens, utilizing its Community BuyBack mechanism. This mechanism ties ecosystem revenue directly to token burns and rewards for participants, potentially enhancing token scarcity and supporting price growth.
The token burn comes as Injective's ecosystem revenue grows, suggesting a strengthening financial foundation. The mechanism is designed to create a positive feedback loop, where increased revenue leads to more token burns, which in turn could drive price appreciation.
Analyst Giannis Andreou has projected a potential $100 INJ price by 2029, providing a long-term bullish outlook. However, short-term technical analysis indicates resistance at $9.50–$10.50 and support at $2.70–$3.20, suggesting a potential breakout could be on the horizon if resistance is overcome.
The broader crypto market is currently experiencing a downturn, with 
Bitcoin down 3.84% in the last 24 hours and the overall market cap at $2.8 trillion. Injective's price has also been affected, dropping 8.18% in the last day, though it remains up 5.61% over the past week.
The token burn and revenue growth could position Injective as a strong player in the decentralized finance space. Investors will be watching to see if the token can break through resistance levels in the coming weeks.
Since this brief published about 3 hours ago, Injective (INJ) has moved from ₹748.24$7.91 to ₹748.24$7.91 — +0.00%.
The chart plots INJ's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 INJ ≈ ₹817.06 (about $7.91), down 7.7% over 24 hours. The rupee itself trades about 9.2% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 22, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Injective Burns 7.2M INJ Tokens, Fueling Price Speculation A — questions & answers
What is Injective's Community BuyBack mechanism?
It links ecosystem revenue to token burns and participant rewards, enhancing token scarcity.
What is the current price of INJ?
INJ is currently priced at $7.91, down 8.18% in the last 24 hours.
What is the long-term price projection for INJ?
Analyst Giannis Andreou projects a potential $100 INJ price by 2029.
How much is 1 Injective worth in rupee today?
About ₹817.06 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $7.91. The rupee price moves with both INJ's US-dollar price and the USDT/INR rate; use our Injective in rupee page for any amount.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from TronWeekly. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.