Initia (INIT)
Up about 15.9% over 24 hours, it rose from around 0.153 to a high of 0.1987 before retreating to around 0.177. Spot trading volume was about $6.64 million, roughly 1.8 times the seven-day daily average of about $3.7 million. The token is up about 38% over the past seven days.
As a catalyst, the mainnet was halted following the MoveVM security incident on October 23. On October 27, the team said the remediation plan had entered an external audit. Once it passes, the team will announce its asset recovery and phased restart plans. No final date for the network’s return has been set.
In market action, the price pulled back from its intraday high after rebounding. Trading volume remains above the past week’s average, with volatility driven mainly by expectations around the network’s return.
Will short-term investors continue pricing in the audit and restart window?
Up about 15.9% over 24 hours, it rose from around 0.153 to a high of 0.1987 before retreating to around 0.177. Spot trading volume was about $6.64 million, roughly 1.8 times the seven-day daily average of about $3.7 million. The token is up about 38% over the past seven days.
As a catalyst, the mainnet was halted following the MoveVM security incident on October 23. On October 27, the team said the remediation plan had entered an external audit. Once it passes, the team will announce its asset recovery and phased restart plans. No final date for the network’s return has been set.
In market action, the price pulled back from its intraday high after rebounding. Trading volume remains above the past week’s average, with volatility driven mainly by expectations around the network’s return.
Will short-term investors continue pricing in the audit and restart window?