Injective (INJ) is a Layer 1 blockchain for tokenized stocks, assets, and real-world assets (RWA), with daily active addresses (DAA) surging in July.
Despite the INJ token falling 80% from its all-time high (ATH), the network's revival reignites optimism. What is driving this sudden growth? This article explores the key factors behind the surge.
Injective Network's 2025 Rebound... DAA Reaches Highest Level Since December 2023
According to Artemis Analytics, INJ's daily active addresses surged from 4,500 in early 2025 to over 81,000 in July, an increase of more than 1,700%.
This is the highest level since December 2023, when the INJ price rose from $1.25 to over $50.
As a result, many investors speculate that the network's reactivation could signal a new price increase for INJ in 2025.
"INJ daily active addresses have increased 1,500% in 6 months, reaching 82,500. Injective is growing exponentially, and this is just the beginning." – Analyst Lennaert Snyder comment.
The DAA increase appears to have started after February 17th. Injective released the Nibara upgrade, a major protocol upgrade, on that day. The community approved it with high participation, expected to improve network performance and attract more users and developers.
By July, DAA had doubled compared to the second quarter average. One of the key factors driving this growth was the release of Injective's Ethereum Virtual Machine (EVM) public testnet.
On July 3rd, 2025, Injective announced the testnet launch. This allows developers to directly build and run Ethereum-compatible decentralized applications (dApps) on Injective's Layer 1 blockchain.
Injective (INJ) Undervalued?
In 2025, Injective accelerated its token burning rate 5 times since the INJ 3.0 release. The weekly protocol revenue burning mechanism reduces token supply and introduces deflationary pressure. However, this has not yet led to a price recovery amid the ongoing altcoin winter.
Despite project development and strong on-chain indicators exceeding 2024 levels, INJ is still down 80% from its $52 ATH. According to BeInCrypto data, INJ is trading around $10.5, down 60% year-to-date.
Some investors now believe INJ is severely undervalued.
"Injective INJ is significantly undervalued. If you've been paying attention: Major developers, partners, and releases are being prepared behind the scenes, preparing a wave of product launches that could make everything up to now look small." – Investor CryptoBusy statement.
With increasing interest in tokenized stocks and assets on securities exchanges, Injective could rise again. As a Layer 1 network, it is attracting institutional and retail interest in the real-world asset tokenization space.
