Injective Ecosystem Renewal: Opportunities and Challenges Behind Capital Inflows and Data Surge

Recently, the Injective public chain has attracted market attention again. Data shows that the net inflow of funds for this public chain in the past 30 days is about $142 million, ranking second among all public chains, only behind Ethereum. This phenomenon has sparked numerous discussions within the industry about the future development of Injective.

Analysis of the Reasons Behind Capital Inflows

The capital inflow to Injective is primarily achieved through cross-chain bridges, accounting for as much as 98.5%. Analysis suggests that this wave of capital inflow is largely attributed to the launch of a high-yield platform on Injective. The annualized yield provided by this platform's treasury reaches as high as 30%, becoming the main factor attracting capital.

However, it is important to note that the platform has set a vault cap of only $5 million on Injective, which cannot fully absorb this influx of funds. This means that some funds may flow out again in the short term.

The Ecological Transformation of Injective

Injective has made significant breakthroughs in ecological development recently. In April, its mainnet underwent a major upgrade, introducing new technological optimizations that enhanced network performance. Additionally, Injective launched an oracle framework for physical assets (RWA), and based on this framework, it launched on-chain foreign exchange markets for the Euro and British Pound.

These actions indicate that Injective is shifting from its original focus on decentralized derivatives trading to a broader RWA (Real World Asset) field. This transformation strategy appears to be showing initial results, as there has been a noticeable increase in Injective's derivatives trading volume and daily active users recently.

Challenges and Opportunities Coexist

Despite Injective's breakthroughs in certain metrics, it still faces significant challenges. Its derivatives trading volume is still lagging behind its competitors, and the total locked value (TVL) is also on a downward trend, currently standing at only $26.33 million.

In terms of token performance, although INJ has rebounded significantly from its lows, there is still a considerable gap to its historical high. This indicates that the market remains cautious about Injective's long-term prospects.

Future Outlook

Injective is actively embracing new technologies and trends such as AI and RWA, attracting several well-known institutions to join its ecosystem. Whether these efforts can help Injective return to the top tier of public chains still needs time to be tested.

Does the current data rebound signify a long-term revival of the Injective ecosystem, or is it merely a short-lived market sentiment reaction? This remains to be seen. For Injective, the biggest challenge it faces will be how to transform short-term hype into long-term ecological value.