Pineapple Financial Launches $100M INJ Treasury to Buy INJ
Pineapple Financial, a Canadian fintech listed on NYSE American (PAPL), has launched a $100 million digital asset treasury dedicated to accumulating Injective’s native token, INJ. According to Injective’s announcement on X, the funds will be deployed over the coming weeks and months to build what it describes as the largest INJ reserve globally. The initiative attracted backing from notable traditional and crypto investors, including FalconX, Monarq, Abraxas, Blockchain.com, Canary Capital, Kraken, and the Injective Foundation. Pineapple Financial, founded in 2015, operates over 700 mortgage brokers and leverages AI and cloud-based platforms MyPineapple and Pineapple+ to streamline lending. Injective is a Cosmos SDK–based layer-1 blockchain offering decentralized derivatives trading through an order-book model. Its INJ token is used for governance, staking, and transaction fees, and is currently trading around $13.35 with a market cap of approximately $1.3 billion on exchanges like Binance and OKX.
Bullish
Pineapple Financial’s commitment of $100 million to accumulate INJ demonstrates strong institutional confidence and creates substantial buy-side pressure. Backing from major investors like FalconX and Kraken further validates the project’s credibility. Historical precedents—such as similar large-scale treasury builds in other protocols—often trigger short-term price rallies as markets respond to whale accumulation. In the long term, a well-capitalized reserve offers sustained support, deeper liquidity, and reduced volatility for INJ. Overall, this news is likely to be bullish, driving both immediate upward momentum and enhanced market stability for INJ.