Injective network set to receive over $80M USDC migration, including $68M from dYdX pending vote

Injective announced that more than $80 million in USD Coin (USDC) is ready to migrate to its network, with $68 million from dYdX still awaiting a governance vote. Cosmos Hub has already moved its treasury USDC to Injective, positioning Injective's USDC as a standard for both Cosmos and dYdX ecosystems. The dYdX Foundation plans a v9.9 upgrade to shift USDC backing from Noble to Injective, maintaining token identifiers and balances while introducing a Canonical USDC module. This move is significant given dYdX's monthly trading volume exceeding $1 billion, indicating strong network activity and adoption potential.

Injective (INJ) surged 11.42% to Rp146.155 on Pluang as of Nov 14, 2026 12:31 WIB, reflecting strong market interest possibly linked to the $80 million USDC migration news. Meanwhile, dYdX (DYDX) traded at Rp1.588, down 0.75%, with a market cap of Rp1,33 trillion and 24-hour volume of Rp50,61 million, showing more muted activity. The migration aligns with Injective's growing role in DeFi ecosystems, highlighted by its Rp14,46 trillion market cap and Rp3,06 trillion daily volume on Pluang.