Pineapple Backs INJ Token, Buys $8.9M Worth, Plans Integration
Pineapple, a leading financial technology company, has expressed confidence in the future of the INJ token. CEO Shubha Dasgupta's optimism comes as the company launches a 1 million digital asset strategy and becomes the largest holder of INJ tokens.
Pineapple's bullish stance on INJ follows Binance's acquisition of the first batch of 678,353 INJ tokens, valued at $8.9 million, marking the start of the Injective digital value creation strategy. Pineapple has swiftly staked its entire 1 million INJ position onchain to generate yield.
Injective, a decentralised exchange, has gained traction with its pre-IPO perpetual markets for synthetic shares of major private firms like OpenAI. Pineapple has officially launched its 1 million Injective Digital Asset Treasury strategy, with its first purchase of 678,353 INJ tokens worth $8.9 million. Pineapple aims to become the largest holder and staker of 1 million INJ tokens in the ecosystem.
The company's plans align with recent developments, including Rex Shares and Osprey Funds filing for an INJ ETF with the SEC. Pineapple believes integrating Injective's blockchain into its mortgage finance operations will increase efficiency and provide greater transparency and automation. This move comes as Injective surpasses $1 billion in real-world asset futures volume.
Pineapple's confidence in the INJ token is evident in its significant investment and integration plans. As the company becomes the largest holder and staker of 1 million INJ tokens, it aims to enhance its mortgage finance operations through Injective's blockchain. The growing interest in 1 million INJ, including the SEC filing for an INJ ETF, signals a promising future for the token.
