IP crypto surges over 80% following multiple CEX listings, What is IP?

IP crypto surged by as much as 81.4% in the past 24 hours of trading after the project secured listings on multiple exchanges following its Layer-1 mainnet launch.

According to data from CoinGecko, Story’s token rose to an intraday high of $2.16 on Feb. 14, with its market cap standing at $456 million. The rally was accompanied by a massive surge in demand and activity, with its daily trading volume soaring by over 400,000% to hover around $347 million.

IP was one of the best-performing assets in the crypto market on the day and was trending on Coingecko when writing.

Most of the gains seen over the past day came after the project officially launched its public mainnet after a nearly six-month testnet phase. 

The event coincided with the Token Generation Event for its native token, Story tickered IP, which saw over 1 billion tokens enter circulation as part of its initial distribution. Reports indicate that 25% of the initial 1 billion IP supply has been unlocked, with 58.4% allocated to ecosystem development, the community, the foundation, and initial incentive programs.

Following the mainnet launch, IP secured listings on multiple top-tier centralized exchanges, including Coinbase, OKX, KuCoin, Bybit, Bitget, and Bithumb. Most recently, Binance announced the listing of the IP/USDT perpetual contract with up to 25x leverage.

The open interest in the IP futures market has also surged from $92.2k to over $90 million in the past 24 hours, per CoinGlass data .

What is Story Protocol?

Story Protocol is a Layer-1 blockchain designed to revolutionize the $61 trillion intellectual property market by providing a programmable and decentralized framework for managing, trading, and monetizing creative assets.

At its core, the network allows IP holders—including creators, brands, and AI-driven products—to register, tokenize, and govern their digital content on-chain. Users can set custom rules for licensing, modification, and monetization.

The protocol is powered by the IP token, which will serve as the ecosystem’s currency for transactions, governance, and creator rewards. Developers can build on the network, enabling applications such as AI tools, licensing platforms, and decentralized IP marketplaces.

Story Protocol has raised $140 million from investors like a16z and Samsung Next.