@Injective (INJ) is moving through a period of mixed sentiment as exchange actions and shifting activity metrics intersect with strong ecosystem fundamentals.
The most immediate pressure comes from Binance’s removal of the INJ/FDUSD margin pair, with isolated margin lending already suspended and full delisting set for December 11, 2025.
This change reduces short-term liquidity and may trigger selling from forced position closures. Events like these have historically resulted in sharp price corrections, though Injective’s reliance on decentralized platforms such as Helix helps limit the impact of centralized exchange decisions.
At the same time, Injective’s developer activity ranking has slipped in Santiment’s latest 30-day GitHub report, where it now sits 10th among AI and big-data-aligned blockchain projects.
While a decline in ranking can create neutral-to-bearish sentiment, the shift may reflect the project’s recent focus on major infrastructure upgrades, including the EVM mainnet launch and MultiVM integration.
Such developments often lead to temporary changes in public commit frequency as teams transition from active coding to deployment, audits, and system optimization.
Balancing these challenges is Injective’s strong long-term growth driver: its ongoing buyback and burn program. The protocol burned 6.78 million INJ in November, totaling $39.5 million removed from circulation.
Alongside this, Injective’s RWA perpetual markets reached $6 billion in monthly volume, highlighting rising demand for on-chain access to real-world exposure such as equities and commodities.
These developments reinforce Injective’s long-term positioning and help counter short-term pressures created by exchange adjustments and market sentiment shifts.
Overall,@Injective is facing near-term volatility, but its fundamental trajectory remains strong. While exchange delistings and developer ranking shifts introduce temporary challenges, the combination of significant token burns and expanding real-world asset markets continues to support the project’s broader growth outlook.
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