Injective sees 24% monthly gain, but traders, this could derail INJ’s rally?

Injective (INJ) has experienced a substantial monthly gain of 24%, alongside an 8.53% increase over the past day. However, with on-chain profit currently at 0 USD, there’s concern about the sustainability of this growth.

Despite the growth in active users—rising from 28,000 to 46,800—the on-chain profit absence hints at high spending rates. Nonetheless, Total Value Locked has increased to 28.59 million USD, indicating ongoing investor interest.