Coinbase has officially announced the listing of Story Protocol’s native cryptocurrency, the IP token. Users can now transfer their IP tokens via Coinbase and Coinbase Exchange. However, the platform has cautioned users about potential fund losses if transactions occur through unsupported networks.
IP Token Trading Begins in Phases
Coinbase has revealed that the IP-USD trading pair will be launched in a phased manner. Trading will commence gradually once sufficient liquidity is secured, and some regional restrictions may apply. Additionally, the exchange has labeled the IP token as “Experimental,” a designation reserved for assets with higher volatility and risk. Investors are advised to proceed with caution due to potential market fluctuations.
IP Futures Transition to Standard Market
Coinbase International Exchange has also confirmed that IP token futures will soon be available. The existing IP-PERP pre-launch market will transition into a standard perpetual futures market. This transition is set to begin on February 13 at 18:00 UTC and is expected to take approximately four hours to complete.
Advertisement Banner
The move could bolster IP token’s presence in the derivatives market, offering traders a more stable environment and increasing overall liquidity. This expansion signifies that the token is gaining traction beyond the spot market, further solidifying its market position.
The Impact of Coinbase’s Listing on IP Token
Story Protocol is an innovative blockchain project designed to secure intellectual property rights through decentralized solutions. Coinbase’s decision to list IP token could accelerate its adoption and contribute to its long-term value growth.
Following this development, investor interest in IP token is expected to rise, leading to potential price volatility. However, due to the Experimental label and the phased trading rollout, market reaction is likely to be measured and gradual. The trading volume and price movements on Coinbase will serve as key indicators of overall interest in Story Protocol’s ecosystem.
- https://twitter.com/Thebitjournal_
- https://www.linkedin.com/company/the-bit-journal/
- https://t.me/thebitjournal
Follow us on Twitter and LinkedIn and join our Telegram channel to get instant updates on breaking news!
The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.
