TL;DR
- Two whale wallets amassed 16 million Story IP tokens ($48 million), sparking a 7% rally that pushed the price from under $3.00 to just above $3.20.
- IP now trades around $3.18 with a $900 million market cap, 500 million tokens circulating, and daily volume surging past $46 million.
- Bull drivers include Bitcoin’s risk-on bounce and recent protocol upgrades; the next upside hurdle sits at $4–$5 (breakout could target $6), while support lies near $2.75–$2.50.
Story Protocol‘s native token, IP, surged by 7% in the last 24 hours, sparking new excitement within the crypto community. This latest upswing was largely driven by two major whale transactions that collectively scooped up 16 million tokens, signaling renewed confidence in the project’s future.
Whale Accumulation Ignites Rally
On June 23, blockchain analytics revealed that two large addresses quietly built enormous positions in IP. One wallet added 6 million tokens, while a second amassed 10 million, for a combined haul valued at nearly $48 million.
These strategic buys came at key support levels, setting off a swift rebound that took IP from under $3.00 to just above the $3.20 mark. Traders watching on-chain flows noted the low fees and gas costs, indicating savvy accumulation rather than panic-driven panic purchasing.
Token Metrics & Market Snapshot
At the time of writing, according to CoinMarketCap data, Story Protocol’s token is exchanging hands at around $3, up more than 11% in the last 24 hours. The project has a market value nearing $900 million, which firmly positions it within the top 100 cryptocurrencies by size.
Daily trading volume has more than doubled, crossing $46 million as retail orders flooded back in. Nearly 500 million IP tokens remain in circulation, leaving ample runway for growth yet capping supply to preserve scarcity.
Behind the Surge: Why Whales Are Buying
Analysts point to several factors fueling whale interest. Initially, Bitcoin‘s recent rise above the six-figure mark has sparked a renewed risk-on attitude, encouraging long-term investors to shift their focus towards high-beta altcoins such as IP.
Second, Story Protocol has quietly rolled out key upgrades this quarter, including an expanded IP registry and new partnerships with academic and creative industry leaders, moves that promise to deepen on-chain adoption of intellectual property management. Finally, past whale accumulations have preceded outsized rallies, suggesting a repeat performance as large holders sense value at current levels.
What Comes Next for Story (IP)?
Looking ahead, traders are eyeing resistance zones between $4.00 and $5.00, where earlier sell walls have stalled upside moves. A clear break above these levels could spark a second leg higher, possibly driving IP toward $6.00. Conversely, a pullback under today’s lows near $2.90 would test critical support at $2.75 and $2.50.
