🥷 While the market searches for direction, Injective continues to "burn" its way to growth and strengthen the foundation of its ecosystem. Here are the main news highlights from the last 7 days:
1. 🔥 Large Burn (Token Burn)
This week (March 18), the Injective community officially burned another batch of tokens worth about $158,000.
* Why is this important? Thanks to the tokenomics update IIP-617 ('Supply Squeeze'), burning becomes more aggressive. To date, over 6.9 million INJ have been destroyed. The supply is decreasing, creating a natural scarcity.
2. 🔵 Native USDC from Circle is already close
Important announcement: Circle officially launches native USDC on the Injective blockchain via the CCTP protocol.
* What does this provide? No more 'wrapped' tokens and excess risks. This opens the door for huge liquidity from 30+ other networks and makes Injective the main hub for institutional DeFi.
3. 🏗️ Ecosystem: MultiVM and Ethernia
The network has transitioned to a new level of interaction. Now developers can launch smart contracts from Ethereum, Solana, and Cosmos in a single environment. Transaction speeds on the Ethernia mainnet are now measured in milliseconds, equating the DEX user experience with centralized exchanges (CEX).
📈 Technical outlook and prices:
* Current situation: INJ is trading in the range of $3.10 – $3.25. After prolonged consolidation, the asset appears oversold (RSI at low levels).
* Resistance: The key zone is $3.35 - $3.45. A consolidation above this will open the way to $3.60 and higher by the end of the month.
* Support: It is important to maintain the level of $2.97. As long as we are above this, the bullish scenario remains valid.
Verdict: Injective is transforming from a simple L1 into a powerful infrastructure for RWA and finance. The fundamentals (burning + native stablecoins) are ahead of schedule. We await a breakout from accumulation.