IP Price Surges 550% in 24 Hours

The price of IP contracts surged to an all-time high of $9 on the OKX platform early this morning, with the spot price reaching $8.96. This remarkable increase of approximately 550% from the low point on February 16th has caught the attention of the crypto community. The current price stands at $5.54.

In the past 24 hours, the total liquidation amount in IP contract trading across the entire network reached $37.93 million, ranking second only to BTC contract trading, which saw $51.64 million in liquidations. Long positions were liquidated at $8.42 million, while short positions were liquidated at $29.51 million.

The funding rate for IP contract trading on the entire network has since returned to normal levels, with a positive rate of 0.083% appearing on OKX. This is a significant turnaround from yesterday's extreme negative rate of -1.5%.