INIT rebounds to 0.21 after a 4-day shutdown! Can expectations of an Initia ($INIT ) audit and restart really be realized?
Initia (INIT) continued its strong rebound, rising another 34.72% in a day to $0.21399 (up from $0.1860 yesterday).
The facts behind the security incident and restart:
1. Recovery progress: After a MoveVM zero-day exploit on 10/23 caused a 4-day mainnet shutdown, the official remediation plan is still undergoing an external audit. The network has not yet fully recovered or officially restarted in phases;
2. Exchange developments: South Korea's Upbit still lists it on its warning list and has suspended deposits and withdrawals.
Conclusion: The current price is driven purely by macro expectations of an “audit and restart.” $0.1800 was the key support level yesterday. Don't blindly pile in with a large position before the official announcement of the mainnet restart and the resumption of deposits and withdrawals!
#INIT #Initia #MoveVM #MainnetRestart #Upbit
$INIT
Initia (INIT) continued its strong rebound, rising another 34.72% in a day to $0.21399 (up from $0.1860 yesterday).
The facts behind the security incident and restart:
1. Recovery progress: After a MoveVM zero-day exploit on 10/23 caused a 4-day mainnet shutdown, the official remediation plan is still undergoing an external audit. The network has not yet fully recovered or officially restarted in phases;
2. Exchange developments: South Korea's Upbit still lists it on its warning list and has suspended deposits and withdrawals.
Conclusion: The current price is driven purely by macro expectations of an “audit and restart.” $0.1800 was the key support level yesterday. Don't blindly pile in with a large position before the official announcement of the mainnet restart and the resumption of deposits and withdrawals!
#INIT #Initia #MoveVM #MainnetRestart #Upbit
$INIT