Crypto Frenzy: Initia (INIT) Skyrockets as Price Nears $1 with 45,000% Volume Surge
Initia (INIT) is making serious waves in the crypto market, climbing 36% in the last 24 hours to reach $0.90. What’s fueling this massive momentum? A jaw-dropping 45,000% spike in trading volume, thanks to high-profile exchange listings including its latest debut on Gate.io, offering both spot and perpetual contracts.
Fresh out of the Binance Launchpool, INIT launched just yesterday after a six-day farming period that allowed users to stake USDC, BNB, or FDUSD for rewards. A total of 3% of the INIT supply was allocated to farming participants. In addition, 5% of the total supply is earmarked for airdrops targeting early adopters and testers. The current airdrop is live and will close at 23:59 UTC today, so there's still time to get in on the action.
Investor interest is booming. According to Lookonchain, one savvy trader went long on INIT 16 hours ago at an average price of $0.638 using 2x leverage, now sitting on an unrealized gain of over $630,000.
What Is Initia (INIT)?
Initia is not just another Layer 1 blockchain; it's a next-gen modular ecosystem combining a Layer 1 core with a network of customizable Layer 2 chains called Interwoven Rollups. This allows developers to build app-specific blockchains tailored to their needs while remaining interoperable within the broader Initia ecosystem.
Built on the Cosmos SDK and powered by MoveVM, Initia supports Move smart contracts and features seamless integration with leading Web3 infrastructure like LayerZero (for cross-chain messaging) and Celestia (for scalable data availability). It also includes native support for USDC, integrated oracles, and indexers, creating a truly developer-friendly and scalable foundation.
Game-Changing Feature: Enshrined Liquidity
At the core of Initia is its Enshrined Liquidity mechanism, tackling a major issue in traditional proof-of-stake and rollup-based networks: the trade-off between security and liquidity.
In most networks, users must choose between staking tokens for network security or providing liquidity for trading. Initia changes the game by allowing LP tokens on InitiaDEX (specifically INIT-token pairs approved by governance) to also be used for staking with validators. This means:
- Users earn trading fees
- Boost network security
- Collect staking rewards all at the same time.
The Role of INIT Token
The INIT token is a vital part of the ecosystem:
- Used for gas fees across both L1 and L2 chains
- Acts as the base currency in liquidity pools for cross-chain swaps
- Supports network security and governance participation
With an explosive price rally, strategic exchange listings, airdrop momentum, and cutting-edge architecture, Initia is capturing the spotlight. As the token edges toward the $1 mark, all eyes are on INIT, and it's showing no signs of slowing down.
