IP crypto has experienced an impressive surge of 81.4% in the last 24 hours following its successful Layer-1 mainnet launch and new exchange listings.
Recent data reveals that the Story token peaked at $2.16 on February 14, boasting a market capitalization of $456 million. This significant rally was driven by a dramatic increase in trading activity, with its daily trading volume soaring over 400,000% to approximately $347 million.
IP emerged as one of the top-performing assets in the cryptocurrency market and was trending prominently as the day progressed.
The notable gains followed the public mainnet launch after a rigorous six-month testnet phase.
This milestone coincided with the Token Generation Event for its native token, IP, leading to more than 1 billion tokens entering circulation as part of its initial rollout. Reports indicate that 25% of this initial supply has been unlocked, with 58.4% allocated towards ecosystem development, community initiatives, foundational efforts, and incentive programs.
After the mainnet launch, IP secured listings on several prominent centralized exchanges. Notably, Binance announced the introduction of the IP/USDT perpetual contract, allowing for leverage of up to 25x.
Furthermore, the open interest in the IP futures market skyrocketed from $92.2k to over $90 million within 24 hours, as per recent data analysis.
Understanding Story Protocol
Story Protocol is a groundbreaking Layer-1 blockchain aimed at transforming the $61 trillion intellectual property market by offering a programmable and decentralized method for managing, trading, and monetizing creative assets.
This innovative network allows intellectual property holders—including creators, brands, and AI entities—to register, tokenize, and oversee their digital content on-chain. Users have the flexibility to establish personalized rules for licensing, modification, and monetization.
Powered by the IP token, this protocol serves as the currency for transactions, governance, and creator rewards within the ecosystem. Developers can leverage the network to create applications encompassing AI tools, licensing platforms, and decentralized IP marketplaces.
Story Protocol has successfully raised $140 million in funding from a range of investors.
