A trader on Hyperliquid recently profited a substantial amount from their long position on the newly launched INIT token. This position, opened shortly after the Initia blockchain went live on April 24th, saw a remarkable 30% pump in price within the past 24 hours. The trader currently sits with over $654,000 in unrealized profit, according to latest data from Hypurrscan. Some speculate that this trader could be an insider or linked to the Initia team, given they entered a long position right at the token’s launch on multiple crypto exchanges. INIT, the native token of the Initia blockchain, has experienced a surge in price, reaching nearly $0.85, after launching at a price of just $0.2 on Binance. This represents a significant jump of 325% from its initial offering, making it one of the most talked-about tokens in the crypto space and currently ranking as the 304th largest cryptocurrency by market capitalization.