Story Token Gets Traction and Rises 50% in 30 Days – Is IP Heading For $14?

Story (IP) has gone up by 13.5% in the past 24 hours and has surpassed the $10 mark as trading volumes have exploded by more than 600%.

Nearly $700 million worth of the token has exchanged hands during this brief period, accounting for almost a quarter of IP’s circulating supply.

IP Strategy Official X Account – Source: X.com

A company called Heritage Distilling announced just hours ago that it will launch the first IP-focused treasury strategy, consisting of a $220 million investment in the token funded through a private placement led by a16z crypto and other top venture capitalists.

According to Heritage, the intellectual property (IP) market is worth nearly $80 trillion and this purpose-built layer-one blockchain is unlocking the full potential of blockchain technology to power the next era for IP.

“Through $IP, investors gain access to a growing ecosystem already working with globally recognized IP and creators, including Justin Bieber, BLACKPINK, Madonna, Adidas, and Stability AI, while positioning ahead of the next frontier: tokenized real-world data for AI,” the official press release reads.

With the launch of this treasury, investors will be able to get exposure to the IP token through the U.S. regulated markets.

“Wall Street is beginning to recognize that IP is the gold of the AI era. First came Bitcoin as digital money, then Ethereum as financial rails. Now, $IP is emerging as the blockchain primitive for AI-era intellectual property. IP Strategy creates the first public market vehicle for investors to access this transformation,” commented Seung Yoon Lee, the Chief Executive Officer of PIP Labs and the creator of the Story blockchain.

The Project’s Tokenomics Show Big Insider Concentration

Data from Story Scan shows that gas fees have been increasing lately within this layer-one blockchain as trading volumes have kept increasing. Meanwhile, the number of active accounts more than tripled in the past 3 months amid a growing institutional interest in this project.

With the launch of this treasury, the public’s awareness will rise and that could favor a bullish outlook for IP as investors will likely pile into the most promising blockchain-based projects during altcoin season.

So far this year, IP has produced a 253% gain for investors. That said, the tokenomics of the project favor insiders and early backers primarily.

Story (IP) Tokenomics – Source: Story’s Official Website

A total of 51.6% of the token’s total supply will go to contributors, early backers, and the Story Foundation. Meanwhile, another 10% was allocated to Initial Incentives (rewards). As a result, only 38.4% of the allocation will go to the community and toward ecosystem growth.

This creates significant room for a rug-pull. Although institutional support is strong, negative momentum could accelerate if these investors and early contributors decide to cash out at some point during the rally. The result could be a strong drop in IP in the near term.

IP Could Still Deliver a 50% Gain

Regardless, the daily price action still favors a bullish outlook for IP as the token has broken above its trend line resistance as positive momentum has accelerated.

IP/USD Daily Chart (Coinbase) – Source: TradingView

After a retest of this line from above, the price could keep rising strongly to the $14 level, offering a 40% to 50% upside potential in the near term.

Relatively niche projects like MYX Finance and MemeCore have been gaining traction during this cycle as investors look for the next token that could potentially 10X or even 100X. However, by carefully analyzing the project’s tokenomics, investors can identify how big the risk of a rug pull is.