IP crypto surged by 81.4% in the past 24 hours, following its Layer-1 mainnet launch and multiple centralized exchange (CEX) listings.
According to CoinGecko data, Story Protocol’s native token (IP) reached an intraday high of $2.16 on February 14, bringing its market cap to $456 million. The rally was driven by a massive surge in trading activity, with its daily volume soaring over 400,000% to approximately $347 million.
IP was one of the best-performing crypto assets of the day, trending on CoinGecko at the time of writing.
Mainnet Launch and Token Distribution
The price surge came after Story Protocol officially launched its public mainnet, concluding a six-month testnet phase.
This event also coincided with the Token Generation Event (TGE) for IP, which introduced 1 billion tokens into circulation as part of its initial distribution.
- 25% of the initial 1 billion IP supply has been unlocked
- 58.4% is allocated for ecosystem development, community incentives, and the foundation
Major CEX Listings Drive Demand
Following the mainnet launch, IP secured listings on top-tier centralized exchanges, including:
- Coinbase
- OKX
- KuCoin
- Bybit
- Bitget
- Bithumb
Additionally, Binance recently announced the listing of an IP/USDT perpetual contract, offering up to 25x leverage.
Explosive Growth in IP Futures Market
Open interest in the IP futures market surged from $92.2K to over $90 million in just 24 hours, according to CoinGlass data. This indicates strong speculative interest and increased trading activity around the token.
What Is Story Protocol?
Story Protocol is a Layer-1 blockchain designed to revolutionize the $61 trillion intellectual property (IP) market by providing a programmable and decentralized framework for managing, trading, and monetizing creative assets.
The network enables IP holders—including creators, brands, and AI-driven products—to register, tokenize, and govern their digital content on-chain. Users can also set custom licensing, modification, and monetization rules for their IP assets.
Use Cases and Functionality
Story Protocol’s ecosystem is powered by the IP token, which serves as the platform’s:
- Primary transaction currency
- Governance token
- Creator rewards mechanism
Developers can build AI-powered tools, licensing platforms, and decentralized IP marketplaces on the network, expanding its utility beyond simple asset registration.
Backed by Leading Investors
Story Protocol has secured $140 million in funding from notable investors, including:
- a16z (Andreessen Horowitz)
- Samsung Next
With its Layer-1 mainnet now live, major exchange listings, and a rapidly growing futures market, IP crypto is positioning itself as a major player in the decentralized IP space. As the protocol continues expanding, the token’s long-term potential will depend on ecosystem adoption, platform growth, and real-world use cases in the intellectual property industry.
