Injective (INJ) has seen a significant price increase of over 12% following the approval of the IIP-619 governance proposal, which enhances its MultiVM EVM architecture. According to NS3.AI, this development has coincided with Pineapple Financial (DAT) acquiring 7% of INJ's total supply, indicating a resurgence of institutional interest. Despite these positive trends and consistent on-chain activity, INJ's price remains more than 90% below its all-time high, as it continues to face challenges from the broader altcoin market sentiment.
