Initia (INIT) is a Layer 1 blockchain platform built on Cosmos SDK that allows developers to create customizable Layer 2 rollups called Minitias. The network supports multiple virtual machines (EVM, MoveVM, WasmVM), enabling high throughput and low latency. The native INIT token is used for transaction fees, staking, and governance.
As of writing, INIT has dropped 17.13% in the past 24 hours, making it one of the day's biggest losers.
A South Korea–based crypto exchange recently announced it will list INIT with a KRW trading pair, and deposits will only be accepted via the Initia network. The price decline may have followed this listing announcement.
