- Injective launched tokenized NVIDIA H100 GPU derivatives, enabling trading of decentralized compute rental price exposure.
- Cboe filed for a staked INJ fund. Injective also tokenized shares of Ethereum treasury firm SharpLink.
Injective (INJ) is currently trading at $14.23 USD, reflecting an 8.1% intraday surge, which positions it as one of the top-performing altcoins in the DeFi sector today. With a market capitalization of $1.39 billion and a fully diluted valuation of $1.42 billion, INJ ranks #88 globally.
The protocol’s circulating supply stands at 97.7 million tokens, with a max supply of 100 million INJ, supporting scarcity and long-term token economics. The 24-hour trading volume is significantly elevated at $248.6 million, reflecting heightened market interest.
Ecosystem activity around Injective has been intense over the past weeks. On August 12, Injective rolled out a new financial primitive, reinforcing its position as a DeFi-focused smart contract platform. This follows the Ethernia upgrade (July 31), which improved scalability and interoperability within the Injective ecosystem.
Additionally, Cboe filed for a staked INJ fund through Canary Capital, which would make Injective one of the first assets with institutional staking-based financial products. Around the same time, Injective began tokenizing shares of SharpLink, an Ethereum treasury company, showcasing its real-world asset tokenization potential.
The most impactful news today is the launch of Injective’s on-chain NVIDIA H100 GPU derivatives market, a groundbreaking step in the integration of decentralized finance and AI infrastructure.
This new derivatives product allows users to trade tokenized exposure to NVIDIA H100 GPU rental prices, using decentralized oracles provided by Squaretower. This innovative financial primitive signals the emergence of decentralized compute markets, aligning Injective with the broader DePIN (Decentralized Physical Infrastructure Network) trend.
Injective also reported leadership restructuring, appointing a new CEO, CTO, and President, aimed at scaling institutional partnerships and enterprise integrations. These changes are part of Injective’s strategic roadmap to transform into a cross-chain finance layer connecting EVM and non-EVM ecosystems, including Ethereum, Solana, and Cosmos.
From a technical perspective, INJ has broken out above the $13.70 resistance zone, reclaiming bullish momentum following a multi-week consolidation phase. The next critical level lies at $15.70, with strong on-chain support forming at $13.50.
Momentum indicators such as RSI and MACD confirm a bullish divergence, suggesting continuation toward higher targets if current volume sustains.
