Pineapple Financial Buys $2M of INJ Tokens, Treasury Now $41.9M
Pineapple Financial completed a $2 million purchase of 560,647 INJ tokens at an average $3.567 per token, boosting its INJ treasury to a combined value of $41.89 million. The company still holds $20.79 million in reserves for further open-market acquisitions, significantly exceeding its $18 million market capitalization.
1. INJ Token Purchase
Pineapple Financial completed an open-market acquisition of 560,647 Injective (INJ) tokens at a weighted average price of $3.567 per token, totaling $2 million in digital asset investments.
2. Digital Asset Treasury Valuation
Following this transaction, the company’s combined INJ treasury is valued at $41.89 million, more than double its approximately $18 million market capitalization, highlighting a potential equity valuation disconnect.
3. Future Capital Deployment
Management retains $20.79 million in capital reserves for continued open-market INJ purchases, underscoring a disciplined treasury strategy and long-term conviction in the Injective ecosystem.