Daily DEX volume and TVL are recovering Additiona

Additionally, the DEX volume of Injective crypto has been slowly rising since the start of July, where the month opened with an average of $393K per day.

As of press time, the figures had improved to about $1.1 million daily, which was almost triple in scale.

More DefiLlama data showed that the Total Value Locked (TVL) was also bullish. The TVL was $109 million, only $27 million short of the 2025 high seen in late January.

Despite all the bullish triggers aforementioned, one key metric stayed flat. The stablecoin market cap on Injective has been stabilizing between the $20 million and $34 million range for the whole of 2025.

Since the ETF will contribute to network security, staking could help improve stablecoin issuance on the chain.

That said, the overall sentiment of this leading AI crypto remains bullish at the moment.