Upbit, Korea’s largest cryptocurrency exchange, today announced a list of Story (IP), the native token for Story Protocol.
The announcement caused a massive double-digit surge in token prices. We have also made the IP a top trend coin from Coingecko.
Secure Story (IP) Upbit list
In context, the Story Protocol is a layer 1 blockchain that simplifies intellectual property management by enabling on-chain registration and enforcement of terms of use. Create a transparent, decentralized IP repository that allows users to easily trade and monetize IPs.
According to the official Upbit notification, IP can be used to trade with three assets: Korean Win (KRW), Bitcoin (BTC), and Tether (USDT). The assets will be made public for trading at 13:00 Korean Standard Time (KST).
Exchange has notified users that deposits and withdrawals promoted only through the IP Story Network will open within 90 minutes of the announcement. Upbit emphasized the importance of verifying the network before deposition, as transactions over unsupported networks are not processed.
Additionally, to maintain market stability, Upbit has introduced temporary trading restrictions. Limit purchase orders for the first 5 minutes and block sell orders below 10% of the previous day’s closing price in the same period. Finally, the exchange only allows limited orders for the first two hours of trading.
“If assets are deposited on upbit from an exchange that is not included in the list of virtual asset business operators for deposits/withdrawals, they cannot be processed and may take a long time for returns,” the notice read.
This list promotes prominent market activity. IP experienced a 16.13% increase. The price of the token rose from around $6.2 to $7.2.
Altcoin has cut some of its profits to trade at $6.8 press hours, up 10.58% since its announcement. Over the past 24 hours, IP value has increased by 15.9%, becoming the second-highest top-gainer in Coingecko.
Furthermore, trading activities have also increased dramatically. IP trading volume pumped 346.7% to $169 million. This indicates a growing interest among investors.
The latest rises are part of a wider uptrend. IP is holding a bullish rally. Over the past month, token value has risen by 127.9%, surpassing the broader crypto market and gaining 15.9%.
Tokens also have great institutional benefits. On July 31st, asset manager Grayscale launched the Story Trust. The Grayscale Story Trust regulates investors’ exposure to IP.
“By converting intellectual property and real-world data into fully programmable on-chain assets, Story lays the underlying infrastructure of the global intellectual property economy.
Therefore, all factors are very positive for IP tokens. As the wider bull run continues, performance in the crypto market is worth seeing.
Post Upbit today lists the new Altcoin that first appeared in Beincrypto.
