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

Injective is experiencing a significant increase in on-chain activity, with its total value locked (TVL) rising by 14% as it implements a new Community Buy-Back program. This program aims to enhance ecosystem value by allowing users to commit INJ tokens to a pool that will buy and burn tokens, thereby reducing supply and providing a 10% yield from ecosystem revenue. However, despite this positive development, the INJ token price has dropped by 8%, indicating a disconnect between ecosystem growth and market sentiment. The apparent behavior of participants shows that many are buying INJ to receive rewards, staking to earn yields, and then selling the tokens back into the market, leading to sustained sell pressure. This dynamic highlights a challenge for Injective as the initial momentum surrounding the token has cooled. The recent buyback initiative is seen as an ambitious effort to re-engage the community and stimulate interest in the token.

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