Main to remember
What fueled the last Fall of IP on graphics?
The native token of Story, IP, fell strongly on the intellectual property disputes linked to the tokens published on its platform.
What were the consequences of the depreciation of IP prices?
The derivatives were the main engines of the fall, especially since the outputs of massive liquidity reach the market.
The Story Protocol IP has recorded a significant drop in graphics, lowering 10% in the last 24 hours. This, following increasing concerns concerning the problems of intellectual property on the platform.
In fact, at the time of writing, market analysis seemed to indicate that the decline could be still affected by derivative investors. Especially if they continue to place major bets against assets.
200 million dollars in outings
The history protocol, a platform designed to monetize the tokens and the intellectual property of the creator, suffered a lot due to a dispute surrounding the creator token – Baby Shark.
Pinkfong, an entertainment company, denied any association with Baby Shark, triggering massive outing in the early hours of September 29.
After the announcement, the baby shark token dropped 90%, its market capitalization plunging from more than $ 200 million to a press value of only $ 2.33 million.
Source: CoinmarketCap
At the time of the press, Community feeling, an aggregator used to assess investor positions, revealed that only 40% of the participants were optimistic, while the majority transformed the sellers.
Interestingly, the sale was not coordinated at all levels, however. Instead, it was motivated by a particular segment of the market that accelerated the decline.
LEVER effects
Lever merchants have proven to be the most bearish, amplifying the downward pressure on the price of intellectual property.
In fact, data on the Coinglass derivative market has revealed that liquidity outings in the last 24 hours have reached $ 20 million. All the interests opened, fell to $ 273 million.
Source: CoinmarketCap
The commercial volume in derivatives has also weakened, the Long Short ratio falling at 0.95 – below the neutral threshold of 1.
A decrease in this magnitude generally means that more short-circuited investors the assets, positioning themselves to benefit from new downward movements.
The cash trading activity has also contracted, the overall volume falling from more than 54% to $ 304 million in the last 24 hours. This involved that fewer investors actively participated, many choosing to sell or stay on the sidelines.
Here is what is going then …
Despite the massive liquidity outputs, the feeling of the market suggested that the management of the assets could be surprisingly optimistic.
This perspective was based on investments in liquidity clusters above the press time price, as revealed by the thermal liquidation card.
Source: Coringlass
However, above all potential rally, Altcoin can first retest the liquidity cluster at $ 8.4, using it as a catalyst for a wider movement.
In case of success, IP could stage a rebound towards much higher levels, with a high probability of closing in a two -digit territory.
