Injective (INJ) Sets 2026 High as Hyperliquid Open Interest Rises 49.5%

A rally in Injective’s INJ took the token to $9.37 on Hyperliquid on Oct. 16, its highest price of the year. INJ gained about 30% over the previous 24 hours.

Open interest in Hyperliquid’s INJ contracts grew by about $4.19 million over that period to roughly $12.65 million, a 49.5% increase. Open interest measures the value of outstanding positions in contracts.

An abbreviated wallet address, 0x8be0…2326c, held about 246,900 INJ in a long position valued at roughly $2.28 million. The position used five-times cross margin, had an average entry price of $7.68 and showed about $386,000 in unrealized profit, a 102% return. The address began adding to the position on Oct. 11 and trimmed it slightly on Oct. 16, keeping most of the long open.