$INIT USDT perpetual snapshot, 02:23 IST, 12 Nov 2026.
Last 0.14112, down 33.8% on the day. The 24-hour range is 0.1302-0.2996, so this contract is sitting in the bottom 6% of that range after a spike toward 0.30 and a hard giveback.
Volume is still enormous: $881 million and 14.5 million trades in 24 hours. The last 1-hour and 4-hour bars bounced off the session low, and volume is cooling versus the dump hours.
1-hour RSI is 37.2, 4-hour RSI is 45.0. Momentum has cooled. That is not a clean extreme, and I am not treating it as a buy or sell signal on its own.
Context for the volatility: Initia confirmed a second security incident in three weeks. The team said a cloud-credential breach led to forged IBC withdrawals, about $3.27 million moved, and roughly $2.16 million remains frozen on the halted L1. The chain was stopped around 06:18 UTC on 10 Nov. Initia said no INIT tokens were withdrawn in this incident. There is no official restart date yet.
Mark 0.14113 versus index 0.14395, so the perp is still about 2% cheaper than the index.
Not financial advice.
$INIT #INIT #Initia #BinanceFutures
Last 0.14112, down 33.8% on the day. The 24-hour range is 0.1302-0.2996, so this contract is sitting in the bottom 6% of that range after a spike toward 0.30 and a hard giveback.
Volume is still enormous: $881 million and 14.5 million trades in 24 hours. The last 1-hour and 4-hour bars bounced off the session low, and volume is cooling versus the dump hours.
1-hour RSI is 37.2, 4-hour RSI is 45.0. Momentum has cooled. That is not a clean extreme, and I am not treating it as a buy or sell signal on its own.
Context for the volatility: Initia confirmed a second security incident in three weeks. The team said a cloud-credential breach led to forged IBC withdrawals, about $3.27 million moved, and roughly $2.16 million remains frozen on the halted L1. The chain was stopped around 06:18 UTC on 10 Nov. Initia said no INIT tokens were withdrawn in this incident. There is no official restart date yet.
Mark 0.14113 versus index 0.14395, so the perp is still about 2% cheaper than the index.
Not financial advice.
$INIT #INIT #Initia #BinanceFutures
