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

Injective’s total value locked (TVL) has increased by 14% as the platform initiates a Community Buy-Back program aimed at returning value to participants while reducing the overall supply of its INJ token. Despite this positive development, the token itself has seen a decline of 8%, highlighting a disconnect between the growing on-chain activity and negative market sentiment. The buyback mechanism allows participants to commit INJ tokens to a pool that will facilitate the purchase and burning of additional tokens in exchange for a 10% yield from the ecosystem's revenue. This rise in activity suggests users may be buying INJ to earn rewards, subsequently selling after locking in their gains, creating sustained sell pressure. Though the initiative aims to reinvigorate community participation, the INJ token's value has notably decreased, raising concerns about market confidence in the ecosystem despite increasing inflows and staking metrics.

Source 🔗