This price action is really interesting.
$INIT suddenly saw a huge surge in trading volume and price starting at 2 p.m. today.
It shot from 0.104 all the way up to 0.1477, gaining nearly 50% at its peak.
It has now pulled back to around 0.1224, but is still up 23% over the past 24 hours.
What’s interesting is that this coin was hacked just a few days ago.
On November 9, hackers obtained cloud keys and forged withdrawal requests to make off with $3.27 million. The chain was halted.
The team said all affected assets would be fully reimbursed and that the infrastructure would be rebuilt from scratch.
The chain still hasn’t restarted, and there’s no firm timeline for when it will.
But the market isn’t worried about any of that—traders are betting on reimbursement and a restart.
Put simply, people are putting real money on the line based on the news.
The fact that it can still rise after being hacked shows that some people really believe it can bounce back.
That said, the chain is still down. If reimbursement gets delayed, the price could fall just as quickly.
If you’re chasing the rally, take it easy—don’t get carried away.
#INIT #Initia #加密货币 #Binance Square
$INIT suddenly saw a huge surge in trading volume and price starting at 2 p.m. today.
It shot from 0.104 all the way up to 0.1477, gaining nearly 50% at its peak.
It has now pulled back to around 0.1224, but is still up 23% over the past 24 hours.
What’s interesting is that this coin was hacked just a few days ago.
On November 9, hackers obtained cloud keys and forged withdrawal requests to make off with $3.27 million. The chain was halted.
The team said all affected assets would be fully reimbursed and that the infrastructure would be rebuilt from scratch.
The chain still hasn’t restarted, and there’s no firm timeline for when it will.
But the market isn’t worried about any of that—traders are betting on reimbursement and a restart.
Put simply, people are putting real money on the line based on the news.
The fact that it can still rise after being hacked shows that some people really believe it can bounce back.
That said, the chain is still down. If reimbursement gets delayed, the price could fall just as quickly.
If you’re chasing the rally, take it easy—don’t get carried away.
#INIT #Initia #加密货币 #Binance Square
