Canary Capital Files for Staked Injective ETF: Insights into INJ’s Short-Term Outlook

Canary Capital Files For Staked Injective ETF – Can INJ Target $16 Next?

Injective [INJ] has been experiencing a significant surge in the last 24 hours, rising by about 8% as of press time. This uptrend can be attributed to Canary Capital’s recent filing for a staked Injective ETF, which will contribute to network security through staking. As the AI crypto coin gets more exposure in the U.S. market, it is essential to examine the possibilities of its price action.

The recent news about Canary Capital’s filing has propelled INJ to break above a massive inverted head-and-shoulders pattern, indicating that the trend might have shifted. The cryptocurrency successfully retested the breakout with a double bottom and surged up to $15 at press time. This zone between $14-$16 is crucial for its short-term outlook as the ETF hype drives price action.

If INJ fails to push through this level and sustain above it, the potential for future upward momentum could be hindered. On the other hand, a successful thrust past $16 could pave the way for higher gains in the near term.

It is also important to note that the daily DEX volume of Injective crypto has seen a significant increase since July 1st, with figures now at around $1.1 million per day – almost triple what they were just a few days ago. Additionally, TVL (Total Value Locked) was about $109 million, only $27 million short of the 2025 high in late January.

The stablecoin market cap on Injective has remained flat throughout 2025 and is currently hovering between $20-$34 million, indicating that staking could potentially improve stablecoin issuance on the chain.

Source: ambcrypto.com