Initia's INIT jumped about 70% in a day, and traders swapped twice its market value
INIT climbed from about $0.12 to $0.22 in 24 hours, with $98 million to $102 million of trading against a market value under $50 million. Binance carried 43% of it, and a Turkish lira pair led every market.
Key points
- INIT traded near $0.2125 to $0.2199 at about 12:36 to 12:47 a.m. ET on November 10, 2026, up 67.8% to 75.4% in 24 hours on CoinGecko, after a 24-hour low of $0.1210.
- Reported 24-hour volume was $97.9 million to $101.7 million, about twice INIT's market value of $46.6 million to $48.2 million.
- Binance handled about 43% of all INIT trading CoinGecko lists, and its INIT/TRY pair (Turkish lira) was the single biggest market at $22.3 million.
- The token is still about 85% below its May 13, 2025, record of $1.42.
What happened
Initia (INIT) is the token of Initia, a blockchain built to link many smaller app chains, called rollups. On CoinGecko its trending list ranked INIT second, after HYPE, early on November 10, 2026.
At 12:36 a.m. ET on November 10, CoinGecko's API showed INIT at $0.2125, up 67.8% in 24 hours. By 12:47 a.m. ET it read $0.2199, up 75.4%. The 24-hour range ran from $0.1210 to $0.2225.
The move was fast. CoinGecko's hourly prices put INIT near $0.130 at 11 a.m. ET on November 9, $0.149 at 2 p.m., and $0.197 at 4 p.m. It slipped to $0.174 at 10 p.m., then pushed above $0.21 after midnight.
Volume bigger than the coin
Reported trading volume over 24 hours was $97.9 million at 12:36 a.m. ET and $101.7 million at 12:47 a.m. ET. INIT's market value, the price times the 219.2 million tokens in circulation, was only $46.6 million to $48.2 million. So the whole circulating supply changed hands about twice on paper in one day.
A day earlier, on November 9, CoinGecko's daily data showed only $5.6 million of volume. Fully diluted value, counting all 1 billion tokens that will ever exist, was about $212 million. Only about 22% of the supply is in circulation, so future unlocks matter for this coin.
Where it traded
CoinGecko lists 31 INIT markets. Binance's markets together carried about $44.7 million, or 43% of the total. The top single market was Binance's INIT/TRY pair at $22.3 million, slightly above Binance INIT/USDT at $21.7 million. Turkish lira pairs made up about 22% of all INIT volume, and Bithumb's Korean won pair added $9.5 million.
Prices did not match everywhere. CoinGecko marked Kraken (INIT/USD at $0.1663), HTX ($0.1371) and Bitvavo ($0.1483) as anomalies, far below the roughly $0.213 on Binance. CoinGecko's pools on the Initia DEX, on Initia's own chain, showed less than $8,000 of volume in the day, so the rally ran almost entirely on centralized exchanges.
Biggest INIT markets, 24-hour volume
US$ million
Source: CoinGecko INIT tickers API, read November 10, 2026, 12:36 a.m. ET
A wild month for INIT
CoinGecko's daily prices show this is not the first big swing. INIT sat near $0.13 on October 23, rose to $0.2228 on October 29, then fell to $0.1229 by November 4 and $0.1201 on November 9. The new high near $0.22 is still below the late October intraday peak of about $0.248.
LC Insight could not open Initia's own posts or its block explorer during this run, so we do not report a cause for the new rally. We found no official statement explaining the November 9 move.
INIT near $0.130 (CoinGecko daily)
INIT at $0.2228, a 30-day high
INIT back to $0.1229
INIT near $0.197 after a run from $0.130
INIT at $0.2199, up 75.4% in 24 hours
LC Insight analysis
This section is our reading of the facts above, not a statement of fact.
- We think the size of the volume against the market value is the key number. When a coin trades twice its value in a day, prices can move sharply both ways, as INIT did after its October 29 peak.
- The gap between Binance and venues such as Kraken and HTX suggests some markets are not moving freely. Traders cannot always move tokens between exchanges to close such gaps, which can leave prices out of line.
- Without a primary-source trigger, this looks like a trading-driven move. We will update if Initia publishes a reason.
What's next
- An official statement from Initia about the rally or its network
- Whether Kraken and HTX prices catch up with Binance
- Daily volume against market value over the next days
- Initia's token unlock schedule, with 78% of supply not yet circulating
Disclaimer. This article is based on public information and the sources listed below as of the update time shown. It is for information only and is not investment, legal or tax advice. Figures may change as companies and authorities publish new data.
Sources
- CoinGecko, Initia (INIT) price, volume and supply (November 10, 2026, 12:36 a.m. ET)
- CoinGecko API, INIT coin data and 31 market tickers (read November 10, 2026, 12:36 a.m. ET)
- CoinGecko API, INIT 30-day and 2-day price history (read November 10, 2026, 12:40 a.m. ET)
- CoinGecko API, markets and trending coins (read November 10, 2026, 12:47 a.m. ET)
