Injective eyes $10B real estate tokenization – Will INJ demand rise?

Injective [INJ] has been among the tokens that have caught investors’ attention as the blockchain doubles down on its focus on real-world assets (RWAs), which have gained traction recently.

Investors have valued RWAs at around $367.75 billion at the time of this report, making them one of the fastest-growing blockchain segments despite months of bear market conditions.

INJ has performed decently over the past couple of weeks, with the asset gaining 61% in the past ninety days and extending its gains to 17.57% over the past thirty days.

$10B real estate tokenization

In a recent development, Pineapple Financial, a Canadian-based mortgage company, announced plans to bring its entire portfolio onto the Injective blockchain.

The real estate portfolio is presently valued at over $10 billion. This comes after Pineapple Financial tokenized over $1 billion of its 29,000 mortgages on Injective earlier this year, under the ticker PALPO.

Since PALPO launched on the 5th of December, INJ has rallied over 60%, rising from $5.350 to about $8.594 at the time of this report, according to RWA.xyz.

An additional tokenized asset launching on its blockchain could strengthen investors’ outlook for the asset and boost buying pressure on INJ in the market.

Over the past 120 days, Spot market data shows a strong uptick in INJ accumulation, with roughly $1.35 billion worth of the asset moving from exchanges into private wallets, while netflow remained negative at -$48.5 million at the time of this writing.

Injective’s on-chain activity grows

On-chain activity for INJ has grown significantly over the past couple of weeks, supporting the bullish outlook.

According to DeFiLlama, Injective’s total value locked (TVL) has increased by $2.44 million since its October 9th low, bringing it to approximately $14.28 million as of this writing.

Similarly, DEX trading volume across the blockchain has maintained a steady level of $4.52 million over the past couple of days.

A steady trend in volume suggests stronger blockchain utility and increases the likelihood that the price can sustain its upward movement in the market.

Additionally, the stablecoin market supply on the Injective chain has continued to surge over the past couple of days. Data at press time shows that the supply has reached $17.13 million, up 27.25% over the past thirty days.

Institutional interest in INJ rises

Investors may be accumulating INJ because they consider the asset undervalued ahead of several developments expected on the blockchain in the coming days.

One such development involves Injective exchange-traded funds (ETFs). So far, there have been three applications, including the 21Shares Injective ETF, Canary Staked INJ ETF, and REX-Osprey, all pursuing ETF offerings tied to the asset.

The filing of these ETFs could unlock traditional finance capital for the asset, as investors may accumulate INJ, similar to the impact seen with Bitcoin and other crypto assets.

Final Summary

• Injective [INJ] has gained 61% in 90 days, as Pineapple Financial plans to tokenize its $10 billion mortgage portfolio on the blockchain.
• Rising on-chain activity, increased INJ accumulation, and three ETF applications could support investor interest in the asset.