INIT, the native token of Initia, experienced a sharp surge this morning following the modular blockchain platform's mainnet debut last week.

Launched on April 24, INIT increased 30% over the past 24 hours, climbing to $0.81 from $0.65 in just five hours, according to CoinGecko.

A modular blockchain platform Initia saw its native token INIT experience a sharp surge this morning following the mainnet launch last week.

Launched on April 24, INIT saw a 24-hour gain of 30%, climbing to $0.81 from $0.65 in just five hours, according to CoinGecko. The rally boosted the token’s market capitalization to around $121 million, showing a 34% increase from its lowest recorded price.

“A 30% surge following an airdrop isn’t entirely out of the ordinary, especially when initial liquidity is limited and there’s plenty of speculative interest in a new project. But in the case of INIT, this move seems to have a more focused catalyst,” said Robert Cannon, Financial Advisor at Experity Wealth.

“Recently, a Hyperliquid trader took a large long position with 2x leverage shortly after launch, and now has over $650K in unrealized gains. That kind of aggressive positioning can spark copycat trading and short-term market interest, amplifying price shifts more than usual after an airdrop,” explained Cannon.

“It’s a good example of how early trading dynamics, especially with less-known tokens, can influence broader market trends. In a low-liquidity environment, a significant trade can quickly change the tide,” he added.

Initia is a modular blockchain platform that combines a Layer 1 (L1) blockchain with a customizable Layer 2 (L2) rollup framework. The mainnet launched alongside the INIT token on April 24.

In a post shared earlier this morning on X, Initia co-founder Ezaan Mangalji highlighted the platform’s complete value capture model.

“All the value in the interwoven economy stays in Initia... Initia captures the entire value stack from: L1, appchains built with Initia (via VIP and Settlement), DEX / Liquidity Venue, Routing Hub (transfers into / across appchains move through the L1),” said Mangalji.

Meanwhile, INIT’s surge comes a few days after Initia’s airdrop – as part of the launch strategy, Initia airdropped 5% of the total INIT supply to qualified users.

The remainder of the token distribution is allocated as 15% to investors, 15% to the team, 25% to liquidity and staking rewards, 25% to a vested interest program, 6% to the Binance (NASDAQ:BNB) Launchpool, 1% to an Echo community fundraise, and 7.75% to the Initia Foundation.

News data source: kdj.com

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