IP Value Surges 40% in Story Protocol, Spurring Interest in Tokenization

Crypto traders might still be feeling the effects of Tuesday's market turmoil, but optimistic wagers on two alternative digital currencies have yielded significant returns.

Story's IP, a startup specializing in intellectual property, has risen by nearly 40%, outperforming a 5.20% increase in major tokens monitored by the comprehensive CoinDesk 20. Meanwhile, Hyperliquid's HYPE has climbed by 15%.

Keeping an eye on tokens that surpass expectations during a market rally or recovery can reveal demand, making these attractive prospects to watch. Any future downturns could present lucrative opportunities for traders.

IP-backed futures exhibited a 52% surge in open interest to $162 million on Wednesday, indicative of traders' enthusiasm. The Story Protocol tokenizes creative assets, such as art, music, or AI-created content, into programmable, exchangeable entities. These tokens grant their holders or owners rights to the underlying asset.

Aria Protocol, a venture within the Story ecosystem, announced on Wednesday that it had acquired fractional rights to "The Truth Untold" by popular Korean band BTS, a song that has garnered over 670 million streams.

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[Removed hyperlink and reference to external website: One of the biggest boy bands of all time is making its way to Story. The Story ecosystem app @Aria_Protocol has acquired partial rights to "The Truth Untold" by BTS featuring Steve Aoki. With over 670M+ streams and as part of the first album by BTS to debut at #1 on the Billboard 200.]

In another development, strong underlying principles may be driving HYPE's demand. The primary exchange recorded over $190 billion in trading volumes in January and $167 billion in February, with all revenue used for token buybacks from the open market.

According to data, Hyperliquid generated $3.5 million on Tuesday alone, with nearly $40 million accumulated so far this month. This consistent revenue stream creates steady buying pressure for HYPE, irrespective of the broader market's fluctuations.

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