Injective (Inj) is a layer 1 blockchain dedicated to tokenized stocks, assets, and real world assets (RWA), with dramatic spikes in daily active addresses (DAAs) in July.
Despite the Inj tokens falling 80% from their all-time high (ATH), the network’s revival governs optimism. What is this sudden growth? In this article, we explore the important factors behind surges.
Injective Network rebound in 2025, Daas was the best hit since December 2023
Artemis Analytics data shows Inj’s daily active addresses have skyrocketed from 4,500 in early 2025 to over 81,000 in July, a surge of over 1,700%.
This is the highest level since December 2023, when INJ prices rose from $1.25 to more than $50.
As a result, many investors speculate that the network’s updated activities could mark Inj’s new price rallies in 2025.
“From 1,500% +1,500% +1,500% +1,500% in 82,500 indiactive addresses in six months. Injections are growing exponentially, and this is just the beginning,” commented analyst Renato Snyder.
The increase in DAAS appears to have started after February 17th. Injected a major protocol upgrade known as the Nivara upgrade of that date. The community was expected to approve it with high participation, improve network performance and attract more users and developers.
By July, DAAS had doubled compared to the Q2 average. One of the major drivers behind this growth was Injective’s launch of Ethereum Virtual Machine (EVM) Public TestNet.
On July 3, 2025, Injective announced the launch of the testnet. Developers can directly build and run Ethereum-compatible distributed applications (DAPPS) on Injective’s Layer 1 blockchain.
Is Injective (Inj) underrated?
In 2025, Injective accelerated token burn rates by five times since the launch of Inj 3.0. The weekly protocol revenue combustion mechanism reduced token supply and introduced deflationary pressure. However, amid the ongoing winter of Altcoin, it has not yet been translated into a price recovery.
Despite project development and strong on-chain metrics above the 2024 level, Inj is still 80% below the $52 ATH. According to Beincrypto data, Inj has fallen 60% since the start of the year, hovering at around $10.5.

Some investors now believe Inj is severely undervalued.
“Injective Inj is very underrated. If you’re paying attention: the key developers, partners and launches line up behind the scenes, preparing for a wave of product rollouts that make everything seem small,” says investor Cryptobusy.
With growing interest in exchanges for tokenized stocks and assets, Injective could potentially re-emerge as a major layer 1 network for real-world asset tokenization.
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