Canary Capital has filed Amendment No. 3 in its S-1 form with the U.S. Securities and Exchange Commission for a proposed Staked INJ ETF, which would hold spot INJ and stake at least 90% of institutional holdings. Injective has also surpassed 3 billion total network transactions, with over 42 million recorded in the last 30 days. INJ price is approaching the $9 resistance level, where analyst Crypto With Gopal identifies a potential double-bottom pattern with a target of $16 on a confirmed breakout above the neckline.
Canary Capital is advancing its Staked INJ ETF filing with the U.S. Securities and Exchange Commission. According to Injective, the firm has submitted Amendment No. 3 in its S-1 form for the proposed product.
The ETF would hold spot INJ and stake no less than 90% of institutional holdings within the United States. The filing signals growing institutional attention toward Injective, though regulatory approval remains pending.
Injective’s network activity has reached a significant milestone. The network has surpassed 3 billion total transactions, with over 42 million transactions recorded in the past 30 days.
The on-chain activity provides a measurable adoption metric alongside the institutional narrative. Transaction milestones add another layer of information to the story Injective is building around itself.
On the price front, INJ is approaching the $9 resistance level. According to Crypto With Gopal, a potential double-bottom pattern is developing, with two significant lows occurring near the $2.70 mark.
The $9 level serves as the neckline resistance for this formation. A breakout above the neckline would represent technical validation of the pattern, while failure near the level could keep INJ trading in its wider range.
The analysis points to a potential price target of $16 if the breakout above $9 confirms. The double-bottom formation remains conditional on the price staying above this key level.
The convergence of institutional developments, network growth, and technical patterns places Injective at a significant juncture. Canary Capital’s amendment progress and the transaction milestones offer concrete metrics for tracking adoption, while the $9 level remains a critical technical marker for price validation.
Neither the ETF approval nor the price pattern is guaranteed. Future regulatory filings and market movements will determine the outcome.
