Story Protocol’s IP -Tokens dropped 20% and withdrew the entire move within hours late Monday in an unusual trade session.
IP dropped from nearly $ 4 to $ 3.27 in a four -hour period and jumped back to over $ 4 in a few hours after hit the daily low. The majority of trade volume during this event was concentrated on larger exchanges Binance and OKX spot with over $ 40 million in trading volumes before the jump and $ 138 million after improvement.
The wider crypto market was relatively stable at the time Bitcoin traded about $ 84,000 and no clear overall trend that affected Altcoins. This caused the IP token’s sudden decline and improvement to stand out as an isolated event.
Rumors circulated that large quantities of IP tookens along with other tokens like Move and Layer were sold at reduced prices through OTC offers. This led to speculation about insider activity or coordinated sales among cryptic circles on X.
As such, IP-tracked futures showed only $ 1.4 million in cumulative losses in the midst of price volatility, a very low figure given the rapid move and trading. This indicates that all trade activity was dominated by actual sales and purchases of mockery.
The move led to early fear of a mantra (about) -like sales that fell 90% within hours of late Sunday in a contentious move whose specific cause is still unclear from Tuesday.
Story Protocol is a layer of 1 blockchain focused on tokenization of intellectual property (IP) that allows creators to register, licenses and make money on their work on-chain.
