IP Token Surges 45% to Record High Amid Broad Crypto Market Retreat
IP has defied the broader market pullback with a parabolic 45% weekly gain, peaking at a historic $14.92 yesterday. On-chain metrics reveal accelerating capital inflows, with the altcoin's On-Balance Volume spiking 20% since mid-September to 30.77 million.
Derivatives traders are positioning for extended gains, with Coinglass data showing a 1.01 long/short ratio favoring bulls. The alignment between spot and futures activity suggests institutional players may be accumulating positions ahead of anticipated upside.