INJ News: TVL Climbs 14% Amid Buyback Launch, But Token Sinks 8%

The Injective ecosystem is experiencing increased on-chain activity, marked by a 14% rise in total value locked (TVL) as reported by DeFiLlama. This increase is occurring concurrently with the launch of Injective's Community Buy-Back program, which aims to return value to community participants by buying and burning tokens. However, despite this growth in TVL, the INJ token has faced an 8% decline, indicating a disconnect between ecosystem advancements and market sentiment. The buyback program allows members to pool their INJ tokens for purchase and destruction while earning a 10% yield from the network's revenue. On the surface, the increase in TVL and the buyback should bolster token stability, but market behavior suggests participants may be buying INJ for rewards and subsequently selling their tokens, exerting continual pressure on the token price. This scenario underscores the challenges faced by Injective as it seeks to rejuvenate community engagement amidst fluctuating token performance.

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