Story Protocol IP and Hyperliquid HYPE Tokens Experience Significant Price Increases
Story Protocol's token IP and Hyperliquid's token HYPE are experiencing significant price movements despite a general downturn in the crypto market.
- Bitcoin dipped below $90,000, reaching a low of $88,000.
- IP surged by 39.59% in 24 hours, trading at $6.61.
- HYPE initially rose by 15% to $21.05 but is now up 4.93%, trading at $19.85.
Reasons for the Surge
- Story Protocol focuses on managing and monetizing intellectual property, allowing creators control over their works.
- Aria Protocol's recent acquisition within Story's ecosystem may boost IP's market performance.
- Hyperliquid operates as a major decentralized exchange (DEX) on a custom Layer 1 blockchain, generating $3.5 million in trading volume on Tuesday and nearly $40 million in February.
- Strong trading volumes create consistent buying pressure for HYPE.