The INIT token of Initia dropped nearly 60% from its previous day's high on Hyperliquid due to 24 consecutive hourly negative funding settlements for its perpetual contract. The token traded near $0.112, down almost 50% over 24 hours and nearly 60% from the prior day's peak of $0.279. Negative funding means short sellers are paying long holders, reflecting bearish sentiment. The project paused its layer-1 network on November 10 after a security breach that resulted in about $3.27 million in assets moving to an attacker, with $2.16 million still on the paused chain. Initia plans to replenish reserves for affected assets, but the incident has heavily impacted trading and token value.
INIT token is currently trading at Rp2.260 on Pluang, down 57.39% over the past day as of Nov 12, 2026 10:42 WIB. The market cap stands at Rp493,55 million with a 24-hour trading volume reaching Rp2,98 trillion. Sell orders slightly outnumber buy orders at 51% to 49%, and the typical holding period on Pluang is 14 days.
Initia paused its layer-1 blockchain on November 10 following unauthorized transfers totaling around $615,000 due to compromised rollup infrastructure keys. This is the second halt in less than three weeks, after an earlier $2.7 million exploit in Oc...
Initia's INIT token surged 80% within 24 hours on Nov. 10, even as its Layer 1 blockchain was paused due to unauthorized transfers from a custody account. The project halted the network early that day as a protective measure after detecting compromis...
