Initia (INIT token) shocks with a 225% increase on Binance
Initia was officially listed on Binance at 18:00 on April 24. The launch price of INIT was recorded at 0.2 USD, with trading pairs including INIT/USDT, INIT/USDC, INIT/BNB, INIT/FDUSD, and INIT/TRY.
Immediately after listing, the price of INIT experienced notable volatility. The price increased by 225.7% compared to the launch price, reaching a peak of 0.6959 USD. As of now, INIT is trading at 0.6514 USD.
The USDⓈ-M INIT Perpetual Contract was transitioned from pre-market trading to standard at 18:00 on April 24. The transition process takes a maximum of 1 hour and does not affect trading or the current position of the INITUSDT pair.
Initia is a layer 1 blockchain built on the Cosmos SDK, integrating an L2 rollup system (Interwoven Rollups) to address fragmentation issues in a multi-chain environment. The project aims to provide a platform for decentralized applications (dApps) with high customization capabilities while ensuring seamless interoperability between networks.
Initia is likened to the “Apple App Store of crypto,” providing a smooth and unified user experience across thousands of rollups.
The INIT token plays a central role in the ecosystem, used for transaction fee payments, staking, and governance participation. The maximum supply of INIT is 1,000,000,000 tokens, with an initial circulating supply at listing of 148,750,000 tokens (14.88% of total supply).
