The default IP of your localhost (i.e. your machine server will be 127.0.0.1). It has always been that.
You can define an IP in your networking and use that but 127.0.0.1 will still work.
Your connecting to your local site on your own machine which means your IP will be the same as the server.
I doubt VERY much that YOUR ip will be 127.0.0.1 when connecting to a machine over the web, it's impossible.