Story (IP), which has a market value of approximately $1 billion and is listed on Binance futures in addition to the Coinbase spot market, experienced a sudden drop in price.
IP, which was trading at $3.95 before the drop that occurred within minutes, increased its losses by 25% at the bottom. At the time of writing, it is still trading at 12% lower.
No explanation has yet been made by either party regarding the reason for the decline. However, analyst aixbt, who explained some of the reasons behind the previous Mantra (OM) decline, said that despite the project having a fully diluted market value of $4 billion, there was a total locked value of $26 million in its ecosystem, and that the decline occurred due to the poor tokenomics of the token.
The majority of trading volume during the IP drop was observed in the OKX spot market and Binance futures.
*This is not investment advice.
