Technical and Fundamental Factors 

The IP/JPY pair began trading on Japan’s largest exchange, Bitbank, on September 10, causing a significant 31% price increase. This boosted liquidity and supported retail investor demand. Institutional confidence also played a key role: Grayscale established an IP-focused trust fund, and Heritage Distilling’s $82 million IP token purchase reinforced investor trust. 

Additionally, Story Protocol’s mainnet launch enabled on-chain IP registration and programmable licensing. This development brought core functionalities into production and expanded the addressable global IP economy to approximately $80 trillion, offering long-term revenue opportunities. 

Strategic Partnerships and Trading Volume 

Story Protocol partnered with Worldcoin to develop a system that verifies IP ownership on the blockchain. This collaboration ensures digital asset security and prepares for the future of AI data utilization. In the last 24 hours, IP token’s trading volume reached $566.36 million. The increased volume contributed to price growth and attracted investor attention. According to CoinMarketCap, the IP/USDT pair on Upbit saw a 24-hour trading volume of approximately $93.25 million. 

Conclusion and Future Outlook 

Story (IP) token’s 10.20% surge was driven by institutional investment, Bitbank listing, Grayscale fund activity, rising trading volume, strategic partnerships, and the mainnet launch. These developments position Story as a key player in the blockchain-based IP market and enhance long-term revenue opportunities. Traders can leverage this momentum with careful analysis and effective strategies. 

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The post Why Is Story (IP) Rising? Analysis and Reasons! appeared first on Coin Engineer.

As previously reported, Mt.Gox officially announced that it had begun repayments. On-chain data also shows that Mt.Gox wallets have sent large amounts of Bitcoin to BitBank and other wallets, and according to Reddit, many users have confirmed that BitBank has received Bitcoin (BTC) and Bitcoin Cash (BCH).

Users reported that the amount of BTC and BCH received by BitBank is exactly the same as the amount shown in the Mt. Gox table.

According to the data, Mt. Gox today transferred 1,544.67 BTC (approximately $84.87 million) to the hot wallet of the Japanese exchange Bitbank.

Users Want to Receive Their Bitcoin as Soon as Possible!

BitBank acted quickly on repayments and, according to The Block Pro’s share, transferred Mt. Gox Bitcoin repayments to users’ accounts within hours.

Citing creditor statements, The Block Pro reported that creditors want Bitbank to transfer Bitcoin repayments to their accounts in just a few hours, faster than the maximum 14-day period allotted to them.

The trustee stated that intermediary exchanges have different time frames for processing and completing payments, with Kraken having a deadline of up to 90 days.

Accordingly, Bitstamp has up to 60 days, BitGo has 20 days to process repayments, and SBI VC Trade and Bitbank have up to 14 days.

While creditors are eager to receive their BTC as soon as possible, there has also been a statement from former Mt. Gox CEO Mark Karpeles regarding the repayments.

In a post on X account, the former CEO stated that customers are finally starting to receive their Bitcoin and celebrated the progress made over the past decade.

“It’s been a long journey and I’m happy to see we’re finally there,” Karpeles said.

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