Looking at the long-term development of $INJ reveals the bigger picture. In 2022, Injective started from a very low level, only about 242 DAU. By 2023 it had reached 3.2k, 13.4k in 2024, 53.1k in 2025, and by early 2026 it had touched 77.2k DAU. It's worth noting that this growth isn't a case of pumping in users and then Dump. Looking at the chart on the left, you'll see a period of strong growth in early 2024 followed by a significant correction, but the system didn't completely lose users. Then, in 2025, the growth rate is expected to be even stronger than before. This is often a sign of returning users and new users continuing to access the system, rather than just short-term traffic. In crypto, price may outpace narrative. But in the long term, users are what ultimately determine how long an ecosystem survives. Injective is currently heading in the right direction: Native DeFi continues to expand. RWA and AI are starting to appear more frequently in the ecosystem. The on-chain financial infrastructure is quite well-established. And most importantly, user activity is increasing year by year. The market may not react immediately. But data often precedes public attention. # INJ