Injective's $INJ rips +40% on the week.

@injective's native token $INJ has climbed approximately 39% over the past seven days and around 8% on the day at the time of writing, making it one of the stronger-performing large-cap altcoins of the week.

Binance US Staking Seen as Key Catalyst

Binance US has officially launched INJ staking for users in the United States, allowing holders to stake their tokens, support network security, and earn rewards in return. The launch by @BinanceUS is widely cited as a primary driver of the price action. Exchange staking can reduce the amount of tokens immediately available for spot trading, a dynamic that markets often view as bullish.

$INJ joins a growing list of major cryptocurrencies available for staking on the exchange, including Ethereum, Solana, BNB, and Cardano. INJ has touched a high of $6.36, marking its strongest level since November 2025, while daily trading volume climbed 18% to more than $190 million.

Multiple Tailwinds Supporting the Move

The staking launch is not the only factor behind $INJ's recent strength. Several catalysts stacked up over the past weeks: CFTC-regulated INJ futures launched on Bitnomial in April, native USDC and Circle's Cross-Chain Transfer Protocol went live on May 7, and a community token burn round completed in record time. DeFiLlama data also shows Injective's total value locked increased by more than 6% over the past 24 hours, pointing to stronger on-chain activity and fresh capital inflows following the staking announcement.

Injective is also entering a new phase of deflationary tokenomics, with the Community Buyback and Burn system going live in mid-May. The mechanism uses accumulated dApp fee revenue across the network to automatically purchase $INJ tokens on the open market and permanently burn them. Two asset managers, 21Shares and Canary Capital, have also filed for US spot INJ ETFs, with Canary's staked ETF proposal advancing through Cboe.

Traders should note that the rally has pushed technical indicators into stretched territory. The daily RSI has moved into overbought territory, and the token could revisit support below $6.00 if momentum fades.

Sources:
Invezz: Injective surges as Binance US launches INJ staking
Memeburn: Why Is Injective (INJ) Up 90% in May 2026?
CoinMarketCap: Injective (INJ) live price and market data