Injective (INJ) price surged by nearly 10% as it hit an intraday high of $18.24. The gains came as OKX added support for INJ on its spot markets and the community burned more than $65k worth of INJ. INJ price is just 28% off its all-time high of $24.89 reached in April 2021.

Injective (INJ) price surged on Thursday as positive catalysts helped bulls break above recent resistance levels. The INJ token reached intraday highs of $18.24, soaring nearly double digits on the day as buyers pushed for the all-time high above $20. OKX lists INJ, burn auction continues OKX added support for Injective (INJ) on November 30, opening deposits for INJ/USDT at 6 am UTC. The token opened for spot trading at 10 am UTC. The Injective team also announced that the community burned $65,000 worth of tokens (3,986.52 INJ), adding to the weekly burns that have been carried out every Wednesday since mainnet launch in 2021. The weekly burn accounts for 60% of all dApps fees.

3/ Yesterday, over $65,000 worth of $INJ was burned 🔥 pic.twitter.com/b59ZKHlx0c — Injective 🥷 (@Injective_) November 30, 2023

With today’s gains, which came after the latest burn action and listing of INJ for spot trading by crypto exchange OKX, its likely further upside could bring the ATH of $24.89 reached in April 2021 into view. That price is now just 28% away, going by the price of $18.06 at the time of writing. Injective has soared more than 18% in the past week and 37% over the past month. The price of the layer-1 blockchain’s native token has skyrocketed 940% since hitting new lows a year ago. Trading volume rose 56% in the past 24 hours to over $128 million.

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On-chain debt securities marketplace Obligate launches on Base Obligate is a Swiss-regulated on-chain bonds platform, while Base is an Ethereum layer-2 scaling platform launched by Coinbase. Deployment on Base will help with institutional adoption of on-chain debt securities, Obligate’s head of partnerships said in an announcement.

Obligate, a Swiss-regulated blockchain marketplace for capital markets, has deployed on Base, the Ethereum layer-2 scaling solution launched by Coinbase. In an announcement published on Thursday, Obligate termed the development as a significant milestone in the quest to promote adoption of on-chain debt securities to more users. 

Obligate is now live on Base! A monumental step for on-chain debt capital markets, powered by @BuildOnBase, @Coinbase's Ethereum Layer 2 incubation. https://t.co/8K3fa3aQfA — Obligate (@obligatecom) November 30, 2023

With demand for on-chain bonds on the rise across the DeFi market, today’s launch is a key step that will see more institutional investors adopt blockchain-native assets. “Base’s commitment to creating a more open financial system aligns closely with our vision of fostering institutional engagement in on-chain capital markets,” said Matthias Wyss, the head of strategic partnerships at Obligate. Noting that deploying on Base will give more institutions the tools and infrastructure they need to participate in on-chain debt capital markets, Wyss added: “Our deployment on Base exemplifies a shared vision to surmount the barriers confronting institutions, offering them a secure and efficient portal to engage with on-chain debt products. Make no mistake, this represents a paradigm shift in the integration of blockchain technology into institutional finance.” Base launched in early August and has seen considerable growth since, with revenue recently surpassing $10 million. The L2’s monthly active user count has also been impressive, with over 1 million on average. Obligate raised $8.5 million in its seed funding round, with backers including Earlybird, Blockchange Ventures, SIX Fintech Ventures and Circle Ventures.

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