Injective Token Price Rises 30% Amid Increased Trading Activity

The price of Injective (INJ) rose by more than 8% to $9.35 on October 16, with a nearly 30% increase over the day: traders became more active, and buyers pushed the token above the October range. According to TradingView with Binance, around 12:33 IST, INJ was trading at $9.25 with a daily volume of 2.29 million INJ, rebounding from an intraday low of $8.50.

One of the triggers is a partnership with Gulf Labs, a subsidiary of Thailand's GULF Group with a capitalization of about $27 billion. In an announcement on October 8, Injective confirmed: Gulf Labs launched an institutional validator participating in transaction validation, network security, and management. The collaboration covers tokenization, stablecoins, institutional financial services, and digital infrastructure in Thailand. GULF Group operates in energy (>24 GW installed capacity), telecom (46 million mobile subscribers), banking, and cloud services.

According to AMBCrypto's analysis on October 14, amid the partnership, INJ gained about 10%, volume increased by 25% to $153.37 million, and open interest in derivatives reached $72.45 million.

Previously, Injective Institutional Services received SEC registration as a transfer agent (application in July), allowing it to maintain official records of securities ownership and service corporate actions. Concurrently, in December 2025, Canary Capital filed an amended S-1 for an ETF on staked INJ: custodian is BitGo, administration by U.S. Bancorp Fund Services, trading on Cboe BZX, creation and redemption in blocks of 10,000 shares. The application is still in process.

On the daily chart, INJ is trading above the Ichimoku cloud: Tenkan-sen and Kijun-sen around $7.887, cloud boundaries are $7.887 and $7.006. +DI at 21.51, −DI at 14.75; ADX at 26.25 (lower than >40 at the end of September). OBV (4h) rose to −16.74 million, the highest in weeks. CCI (4h) is 209.77 with a signal of 27.38: a value above +200 hints at overstretching on the lower timeframe.

Key resistance is at $9.50: consolidation above opens the way to $10, $10.50, and $11. Supports are at 8.50–8.70, then 7.85–8.00 (at Ichimoku lines around $7.887) and $7.00.