IP crypto surges over 80% following multiple CEX listings, What is IP?

IP Crypto Surges 81.4% After Mainnet Launch and Exchange Listings

IP crypto experienced a remarkable 81.4% surge in the past 24 hours after securing listings on several major exchanges following its Layer-1 mainnet launch.

Intraday High and Market Cap

According to CoinGecko, IP's token reached an intraday high of $2.16 on February 14, with a market capitalization of $456 million.

Demand and Trading Volume

The rally was accompanied by a significant increase in demand and activity, with daily trading volume spiking by over 400,000% to around $347 million.

Top-Performing Asset

IP emerged as one of the top-performing assets in the crypto market on that day and was trending on Coingecko.

Mainnet Launch and Token Generation

The gains were largely attributed to the project's official launch of its public mainnet after a six-month testnet phase. This event coincided with the Token Generation Event for its native token, IP, with over 1 billion tokens entering circulation.

Exchange Listings

Following the mainnet launch, IP secured listings on reputable centralized exchanges, including Coinbase, OKX, KuCoin, Bybit, Bitget, and Bithumb. Binance recently announced the listing of the IP/USDT perpetual contract with up to 25x leverage.

Futures Market Activity

Open interest in the IP futures market surged from $92.2k to over $90 million in the past 24 hours, as per CoinGlass data.

About Story Protocol

Story Protocol is a Layer-1 blockchain designed to transform the intellectual property market by providing a decentralized platform for managing, trading, and monetizing creative assets. IP holders can register, tokenize, and govern their digital content on-chain, setting custom rules for licensing and monetization.

The protocol uses the IP token as its ecosystem currency for transactions, governance, and creator rewards. Developers can build on the network, enabling applications such as AI tools, licensing platforms, and decentralized IP marketplaces.

Story Protocol has received $140 million in funding from investors like a16z and Samsung Next.