CryptoMedium•12 November 2026•
1 min read
INIT Token Plummets 60% as Funding Rates Turn Deeply Negative
Key Facts
1The INIT token price dropped 49.78% in 24 hours, reaching a total decline of nearly 60% from its recent high.
2INIT funding rates recorded a cumulative negative value of -7.70% across 24 consecutive hourly settlements.
The INIT token price dropped 49.78% in 24 hours, reaching a total decline of nearly 60% from its recent high. Tokenpost reported that INIT funding rates recorded a cumulative negative value of -7.70% across 24 consecutive hourly settlements, indicating heavy short positioning by traders.
The decline follows a period of extreme volatility and a network halt due to a $615,000 security exploit. According to Tokenpost, the token's perpetual contracts saw trading volumes of approximately $16.15 million over 24 hours, while notional open interest stood at $1.5 million as negative funding rates signaled sustained selling pressure.