Injective crypto surges 25% – Can INJ confirm a breakout above $9.60?

Injective [INJ] has rallied 25% in 24 hours, is up 30% in a week, and is up just over 70% over the past month. AI and big data tokens have seen a strong performance in the past 24 hours, CoinMarketData showed, with the entire sector up 8.87% in a day. The Injective crypto revenue/fully diluted value ratio was 20% above Arbitrum [ARB] and also led Solana [SOL], the Layer 1 blockchain, as shown in a post on X. It was over 8x higher than Ethereum [ETH], too. Revenue/FDV is “one of the clearest measures of whether a network’s valuation is backed by real usage,” the post read. This on-chain revenue flows into the INJ community buyback program, removing INJ supply each month and aiding token scarcity.

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