The altcoin IP, valued at approximately $1 billion, experienced a sharp decline in price following a sudden drop. The token, listed on both Coinbase Spot and Binance Futures, saw losses of up to 25% before settling at 12% below its pre-drop value. Charting the minute candle movements reveals this dramatic sell-off. While the reason for IP’s sudden plunge remains undisclosed by either party, analyst aixbt, who explained previous token price drops in the Mantra project, suggests that the decline might be due to poor tokenomics. This view is corroborated by a total locked value of $26 million within the IP ecosystem. Notably, most trading activity during the IP drop concentrated on the OKX spot market and Binance Futures. Please remember this is not investment advice.