Injective’s INJ token has surged by over 60% since mid-May, reaching $30, its highest point since April 12. This rise follows key ecosystem developments, including the integration of PayPal’s PYUSD stablecoin.
Injective is the first layer-1 blockchain to support the $400 million PYUSD, enabling its onboarding from Ethereum and Solana. This integration, facilitated by Wormhole, enhances the platform’s capabilities for fast payments and DeFi applications.
Despite its smaller ecosystem, with 17 DeFi apps and $159 million in TVL, Injective shows potential. Helix, its leading DEX, processed $101 million in transactions in 12 hours, ranking 16th in the industry.
The INJ token’s bullish outlook points to a possible 46% increase, targeting $45, its highest level since January 9. This growth underscores Injective’s strategic potential in the blockchain space.
