INJ Whale Dumps $7.39M Worth of Tokens, Triggering a 7.7% Price Drop

A massive INJ whale has made $7.39 million from selling 243,699 $INJ tokens in just 12 hours. This sudden sale put pressure on the market

A large-scale sale of Injective (INJ) tokens by a “whale” investor has resulted in a significant price drop for the cryptocurrency.

According to data from Spot On Chain, the investor sold a total of 243,699 INJ tokens, valued at over $7.39 million, through CowSwap and ByBit over a 12-hour period.

This substantial sell-off has put pressure on the market, leading to a 7.7% decrease in the price of INJ.

The tokens sold by the whale were reportedly acquired over a period of time, with the majority being purchased between February 2021 and July 2022 at an average token value of $10.92.

The whale began selling the tokens in 2023 and 2024 at a token price of $35.9 through CowSwap and ByBit, respectively.

As highlighted by the report, the average token price at the time of purchase was $10.92, while the selling price ranged from $35.5 to $36.3.

This売却 activity resulted in a total earnings of $15,210,738 over 3.5 years, with a net profit of $14,476,738 after deducting the initial purchase cost of $733,999.

Injective, the parent blockchain of INJ, is a layer-one protocol designed for high speed, scalability, and integration, enabling the creation of advanced Web3 financial applications.

Injective boasts the largest and fastest-evolving Web3 financial ecosystem, offering a broad range of applications for its native utility token, INJ.

From protocol governance and decentralized application value capture to proof-of-stake security, developer incentives, and staking, INJ plays a pivotal role in the functioning of the Injective ecosystem.