La sera del 17 Novembre 2025, $INJ il tasso di staking sulla catena ha ufficialmente superato il 59,1%, negli ultimi 72 ore sono stati aggiunti 1,8 milioni di token (circa 55,8 milioni di dollari), creando un nuovo massimo storico settimanale. La curva del tasso di staking in confronto alla storia
Giugno 2024: 45% → Prezzo 18 dollari
Dicembre 2024: 52% → Prezzo 38 dollari
Giugno 2025: 56% → Prezzo 62 dollari
17 Novembre 2025: 59,1% → Prezzo attuale 31 dollari (minimo di ritracciamento)
Ogni volta che il tasso di staking raggiunge un nuovo livello, l'offerta circolante diminuisce permanentemente del 3–5%, e il prezzo non ha mai toccato i vecchi massimi. Composizione della pressione di vendita attuale (trasparente sulla catena)
Circulating supply: 98,970,000 tokens
Staked: 58,400,000 tokens (59.1%)
Exchange hot wallet balance: only 6,800,000 tokens left (6.9%, historical low)
Net outflow from exchanges over the past 30 days: 11,200,000 tokens
Historical data shows key critical points:
Staking rate >60%: the average response time for large sell orders has extended from 11 minutes to over 4 hours (buy orders cannot be fulfilled)
Staking rate >65%: on-chain, there has been a continuous record of no sell orders over 100,000 tokens for 72 hours (there was one occurrence in November 2024, and the price subsequently rose by 180% in 30 days)
Current distance to 65% is only 5.9% (about 5,800,000 tokens), while the average daily new staking over the past 7 days is 600,000 tokens. All three signals of exhausted selling pressure have emerged.
Exchange balance <7% (already reached)
Large holders have only staked without un-staking for 30 consecutive days (already reached)
ETF review enters the final stage → institutions can only accumulate in advance through on-chain (already reached)
Conclusion
In the last window before the ETF goes into effect, the circulating supply is being permanently locked at a visible speed.
On the day the staking rate breaks 65%,
there will be a real 'supply vacuum' on-chain. By then, the price will no longer be determined by retail investors,
but by those who still want to buy but cannot.#Injective $INJ
