$INIT just gave back the whole extension in two hours. $0.395 to $0.212 — a 46% round trip while the chain is still halted.
This morning the extension was back: 04:00 UTC closed $0.34196 above the $0.33193 ceiling on $2.44M. Then the 05:00 hour tagged $0.395 and closed $0.28908 on $4.70M — the day's biggest bar, -15.5% in one hour. The 06:00 hour finished it: closed $0.24844 on $3.21M, the second straight close below $0.29114 and the first below the $0.26794 low.
The floor now is $0.2478 — and it held by $0.00064 on the close. A hairline. The forming hour has already wicked to $0.21207, under the floor and under the $0.23434 low from last night. Unclosed — its 08:00 UTC close, 13:30 IST, is the decider.
Live $0.2217, now -4.3% on the day. It was +56% at the extension post this morning. Rank #441, $48.4M cap — it was $81.2M at the top. Global volume $121.8M, about 2.5x the whole cap in a day. 219M of 1B out, -84.5% off the $1.42 ATH.
The risk core hasn't changed: the chain is still halted. Initia stopped it Nov 10 after about $605k of USDC moved out through compromised rollup keys — the second halt in 18 days, after the Oct 23 $2.7M MoveVM exploit. No restart date, no restart news. This whole surge is trading a coin whose chain doesn't move.
Chart: RSI 49, under EMA20 $0.266, above EMA50 $0.225. BTC $73,894, -1.2% — soft board, INIT's leg is its own.
The other side: the floor survived a wick to $0.233 on the close, and buyers stepped in twice at $0.23434. One close back above $0.29114 starts healing the crack.
Not a call, either way.
08:00 UTC close, 13:30 IST: does $0.2478 hold a second test, or does the extension get unwritten?
This morning the extension was back: 04:00 UTC closed $0.34196 above the $0.33193 ceiling on $2.44M. Then the 05:00 hour tagged $0.395 and closed $0.28908 on $4.70M — the day's biggest bar, -15.5% in one hour. The 06:00 hour finished it: closed $0.24844 on $3.21M, the second straight close below $0.29114 and the first below the $0.26794 low.
The floor now is $0.2478 — and it held by $0.00064 on the close. A hairline. The forming hour has already wicked to $0.21207, under the floor and under the $0.23434 low from last night. Unclosed — its 08:00 UTC close, 13:30 IST, is the decider.
Live $0.2217, now -4.3% on the day. It was +56% at the extension post this morning. Rank #441, $48.4M cap — it was $81.2M at the top. Global volume $121.8M, about 2.5x the whole cap in a day. 219M of 1B out, -84.5% off the $1.42 ATH.
The risk core hasn't changed: the chain is still halted. Initia stopped it Nov 10 after about $605k of USDC moved out through compromised rollup keys — the second halt in 18 days, after the Oct 23 $2.7M MoveVM exploit. No restart date, no restart news. This whole surge is trading a coin whose chain doesn't move.
Chart: RSI 49, under EMA20 $0.266, above EMA50 $0.225. BTC $73,894, -1.2% — soft board, INIT's leg is its own.
The other side: the floor survived a wick to $0.233 on the close, and buyers stepped in twice at $0.23434. One close back above $0.29114 starts healing the crack.
Not a call, either way.
08:00 UTC close, 13:30 IST: does $0.2478 hold a second test, or does the extension get unwritten?