Injective’s TVL Climbs 14% Amid Buyback Launch, But INJ Token Sinks 8%

Why It Matters

The divergence underscores that rising on‑chain activity alone may not lift token prices, challenging DeFi projects that rely on buy‑back incentives, and the program’s impact on supply could shape broader crypto market dynamics.

Summary

Injective’s total value locked surged about 14% in the last 24 hours, signaling a wave of new inflows into the protocol, while its native INJ token slipped roughly 8% over the same period. The platform launched a Community Buy‑Back program that lets users lock INJ to fund token purchases and burns, offering a 10% yield from ecosystem revenue. Although higher TVL suggests growing activity, INJ has fallen 60% year‑to‑date, indicating a disconnect between network usage and market sentiment. The buy‑back aims to re‑energize the community and curb supply, but selling pressure persists.