IP (Story) rose 10.92% in 24 hours.

Gate News Bot news, August 27, according to CoinMarketCap data, as of the time of publication, IP (Story) is currently priced at $6.19, rising 10.92% in the last 24 hours, with a high of $6.50 and a low of $5.47, and a trading volume of $114 million in the last 24 hours. The current market capitalization is approximately $1.881 billion, an increase of $185 million compared to yesterday. IP is currently ranked 50th in the market capitalization of Crypto Assets.

Recent important news on IP (Story):

1️⃣ CASK completes large-scale private placement financing, obtaining a large amount of IP tokens The US-listed company Heritage Distilling Holding Company, Inc. (CASK) completed a private placement financing of $223.8 million on August 15, which included a large number of IP tokens. After the transaction was completed, CASK held over 53.2 million IP tokens, valued at over $320 million based on the closing price on August 22. This move demonstrates strong interest from institutional investors in IP tokens and may have a positive impact on market confidence.

2️⃣ Story Foundation launches large-scale IP buyback plan The Story Foundation announced that it will launch an IP buyback plan totaling $82 million in the open market, from August 15 to November 16, for a period of 90 days. At the same time, Story co-founder and CEO S.Y. Lee stated that all cash proceeds from the protocol will be used for the buyback of IP. This initiative may reduce market volume and provide support for IP prices.

3️⃣ IP application ecosystem continues to expand Multiple projects have demonstrated the application prospects of IP in the Web3 field. For example, the Web3 version Audiera, authorized by the classic game "DJMax", has attracted over 1 million on-chain wallet users; the art IP wallpaper launched by Camp Network has gone live on the BitBrand platform, achieving automatic on-chain royalty distribution; Capybobo has released Web3 native trendy toy IP dolls, showcasing a new experience that combines online and offline. These advancements indicate that the application of IP in the Web3 ecosystem is continuously deepening and expanding.

From a technical perspective, the substantial rise and high volume of IP (Story) within 24 hours indicate that the market maintains a strong interest in the project. On the fundamental side, investments and buyback plans from large institutions may provide medium to long-term support for the IP token. However, investors still need to closely monitor market changes and assess potential risks.

This message is not intended as investment advice; investors should be aware of market volatility risks.