The Layer 1 blockchain, Injective (INJ), focused on the tokenization of stocks and real-world assets (RWAs), recorded an increase in daily active addresses (DAAs) in July 2025. According to data from Artemis Analytics, the number jumped from 4,500 at the beginning of the year to over 81,000, representing a rise of over 1,700%.
The growth in activity began after the launch of the Nivara Upgrade protocol update on February 17th. Additionally, the proposal was approved with broad community participation, aiming to enhance network performance, attracting new users and developers.
Daily Active Addresses on Injective. Source: Artemis
In July, the DAAs doubled compared to the average of the second quarter. The acceleration was reinforced by the launch of the Ethereum Virtual Machine (EVM) Public Testnet, announced on July 3rd. Additionally, the infrastructure allows developers to run Ethereum-compatible dApps directly on the Injective blockchain.
The daily active addresses of INJ increased by +1,500% to 82,500 in 6 months. Injective is growing exponentially, and this is just the beginning, said market analyst Lennaert Snyder.
Price continues to decline despite on-chain growth
Even with the rise in network indicators, the INJ still accumulates significant decline. The token is about 80% below its all-time high of $52. According to data from BeInCrypto, the current price is around $10.5, with a depreciation of 60% year-to-date.
Price Performance of Injective (INJ). Source: BeInCrypto BR
In 2025, the network accelerated token burning five times following the implementation of INJ 3.0, through a mechanism that weekly eliminates part of the protocol's revenue. This measure introduced deflationary pressure, although it has not yet triggered a price recovery.
For some investors, the INJ would be undervalued in light of the technical advancements.
Major developers, partners, and launches are aligning behind the scenes, preparing for a wave of products that could make everything so far seem small, commented analyst CryptoBusy.
What is Injective's tokenization project?
The increase in institutional and retail interest in tokenized assets could benefit specialized networks like Injective. With infrastructure aimed at trading financial assets, the blockchain seeks to consolidate its position in the RWAs segment, which has been attracting growing attention from exchanges and institutions.
Furthermore, the performance in the upcoming quarters may depend on the success of the updates and the project's ability to convert network activity into market appreciation.
The article 'Activity on the Injective network reaches its highest level since 2023' was first seen on BeInCrypto Brazil.
