The Story Protocol IP tokens fell 20% and retraced the move in a few hours on Monday evening in an unusual negotiation session.
IP fell from $ 4 to $ 3.27 in four hours, switching to more than $ 4 in a few hours after reaching the lowest daily. The majority of the volume of negotiation during this event focused on the main binances of trade and the OKX Spot, with more than $ 40 million in negotiation volumes before diving and $ 138 million after the recovery.
The wider market of cryptography was relatively stable at the time, Bitcoin exchanging around $ 84,000 and no clear global trend impacting altcoins. This made the sudden crisis and the recovery of the IP token are distinguished as an isolated event.
The rumors were circulating that large volumes of IP tokens, as well as other tokens like Move and Layer, were sold at reduced prices via over -the -counter offers. This has led to speculation on the activity of initiates or the sale coordinated among the crypto circles on X.
As such, ip term contracts have shown that $ 1.4 million in cumulative losses in the midst of price volatility, a very low figure taking into account rapid movement and trading volumes. This indicates that all trading activities have been dominated by real sales and purchase.
This decision led to early fears of a mantra type sale (OM), which plunged 90% in a few hours late Sunday in a controversial decision whose specific cause is not yet clear on Tuesday.
Story Protocol is a layer 1 blockchain focused on the intellectual property of Tokenization (IP), allowing creators to register, fire and monetize their work on the channel.
