Editor's PiCK
Even as Bitcoin plunges… Story (IP) coin posts a double-digit surge on its own
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Summary
- It reported that even as the global crypto market weakens, the IP token is showing standalone strength—up about 11% from the previous day and surging about 19% on Upbit’s KRW market.
- It said the rally is being attributed to Story’s SIP (token issuance structure, staking incentive adjustments, and easing barriers to community participation), the narrative around an AI–IP-combined layer-1 blockchain, and Grayscale’s IP token trust and inclusion in its pipeline of potential new investment products.
- As rumors spread in some communities about a Poseidon–Tesla cooperation agreement, analysts cited a break above $2.43 resistance and rising volume as leaving room to move toward $12–14, while also urging caution over short-term technical overheating and potential profit-taking supply.
As concerns over U.S. President Donald Trump’s proposed “Greenland tariffs” rattle global financial markets and push the crypto market broadly into a pullback, the blockchain intellectual property project “Story (IP)” is drawing attention by rallying sharply on its own.
According to CoinMarketCap on the 20th (local time), the IP token is trading at $2.6, up about 11% from the previous day. At the same time, on domestic exchange Upbit’s KRW market, it jumped about 19% in a single day, briefly retaking 4,000 won intraday. This contrasts with Bitcoin (BTC), which slipped below the $90,000 level for the first time in three weeks.
The broader global crypto market remains under pressure. Bitcoin fell more than 4% from the previous day to trade around $89,000, while Ethereum (ETH) plunged more than 7%, putting the $3,000 level at risk. Other top market-cap tokens such as Binance Coin (BNB), Solana (SOL) and XRP (XRP) posted declines in the 3–6% range.
Even amid this corrective market, the IP token has continued to move higher as an outlier. Over the past month in particular, it has gained more than 70%, delivering one of the most notable performances among altcoins.
The market sees a recently submitted new improvement proposal (SIP) as one factor underpinning the rally by raising expectations for greater network stability and broader participation in Story. The SIP is said to include changes such as adjustments to the token issuance structure and staking incentives, as well as measures to lower barriers to community participation.
Another factor cited is renewed attention to the project narrative that combines artificial intelligence (AI) and intellectual property (IP). Story Protocol is a layer-1 blockchain that registers content and IP on-chain and automates license management and revenue distribution. As it can manage AI training data and digital content as smart-contract-based assets, it is being discussed as a potential core infrastructure candidate in the AI era.
Improved accessibility for U.S. institutional investors also served as a tailwind. Grayscale, the world’s largest crypto asset manager, launched an IP token trust product for institutional investors in August last year. In particular, on the 12th, Grayscale added Story’s subsidiary and AI data-licensing project “Poseidon,” along with the Story-based project “Aria Protocol (Ariaip),” to its pipeline of potential investment products. This is seen as signaling the possibility of related trust launches in the future, fueling expectations for ecosystem expansion.
The project’s global outreach was also highlighted. It was reported that Story co-founder Lee Seung-yoon received back-to-back official invitations to the World Economic Forum Annual Meeting in Davos, Switzerland on the 21st (the Davos Forum), and to the Middle East’s largest cultural and entertainment awards ceremony, the “JOY Awards,” led by the Saudi royal family on the 19th.
The Davos Forum is an annual gathering where global leaders—including heads of state and CEOs of multinational corporations—convene to discuss the world economy, technology and geopolitical issues. This year’s meeting brings together top-level figures from about 65 countries including U.S. President Donald Trump, alongside business leaders such as Nvidia CEO Jensen Huang, Microsoft CEO Satya Nadella, and Google DeepMind CEO Demis Hassabis, as well as World Bank President Ajay Banga and IMF Managing Director Kristalina Georgieva.
The JOY Awards are a flagship event of “Riyadh Season,” a major cultural project under Saudi Crown Prince Mohammed bin Salman’s “Vision 2030.” Each year it draws leading figures across film, drama, music and sports. This year, attendees included Hollywood stars Oscar Isaac, Jeremy Piven, Heather Graham, Alfie Allen and Travis Fimmel, as well as top pop stars Katy Perry, Robbie Williams and Il Divo.
In addition, speculation circulating in some communities about a cooperation agreement between Poseidon, a project in the Story ecosystem, and Tesla, the world’s largest electric-vehicle company, appears to be helping trigger the IP token’s rally. The foundation, however, was cautious, saying it “cannot confirm.”
Crypto analysts said that after the IP token cleared the $2.43 resistance level, trading volume increased noticeably, reinforcing near-term upside momentum. They added that if the current trend holds, there is room for a longer-term move back toward the prior peak around the $12–14 range. Still, some caution is being raised about further upside. With the possibility of profit-taking supply and signs that the token has entered a short-term technically overheated zone, some analysts argue that it may be difficult to expect a large additional surge in a short period.
