Injective surges after latest burn auction and OKX listing

• Injective (INJ) price surged by nearly 10% as it hit an intraday high of $18.24.
• The gains came as OKX added support for INJ on its spot markets and the community burned more than $65k worth of INJ.
• INJ price is just 28% off its all-time high of $24.89 reached in April 2021.

Injective (INJ) price surged on Thursday as positive catalysts helped bulls break above recent resistance levels. The INJ token reached intraday highs of $18.24, soaring nearly double digits on the day as buyers pushed for the all-time high above $20.

OKX lists INJ, burn auction continues

OKX added support for Injective (INJ) on November 30, opening deposits for INJ/USDT at 6 am UTC. The token opened for spot trading at 10 am UTC.

The Injective team also announced that the community burned $65,000 worth of tokens (3,986.52 INJ), adding to the weekly burns that have been carried out every Wednesday since mainnet launch in 2021. The weekly burn accounts for 60% of all dApps fees.

3/ Yesterday, over $65,000 worth of $INJ was burned 🔥 pic.twitter.com/b59ZKHlx0c

— Injective 🥷 (@Injective_) November 30, 2023

With today’s gains, which came after the latest burn action and listing of INJ for spot trading by crypto exchange OKX, its likely further upside could bring the ATH of $24.89 reached in April 2021 into view. That price is now just 28% away, going by the price of $18.06 at the time of writing.

Injective has soared more than 18% in the past week and 37% over the past month. The price of the layer-1 blockchain’s native token has skyrocketed 940% since hitting new lows a year ago. Trading volume rose 56% in the past 24 hours to over $128 million.