Story Protocol’s IP Token Surge

Story Protocol’s IP token has surged by 149% over the last 24 hours, reaching a price of $6.72 according to CoinGecko, with weekly gains exceeding 261%. This marks its entry into the top 100 cryptocurrencies by market cap for the first time.

The token has increased more than 500% from its all-time low of $1.00 since its launch alongside Story Protocol’s layer-1 mainnet and token airdrop last week. It peaked at $7.00 on Friday, setting a new all-time high for the IP token.

While a specific price catalyst isn’t clear, the platform revealed more about its technical roadmap on Thursday, which outlines the launch of a public beta for the IP Portal and a decentralized oracle network planned for Q2.

Story Protocol aims to innovate the $61 trillion IP asset class with 25% of its total supply available from launch, equating to at least 50 million tokens for early users, now worth around $336 million.

The price increase coincides with a surge in trading volume, which topped over $1.1 billion in the last 24 hours, compared to just $175 million the previous day. Additionally, open interest in futures contracts rose by 60%, reaching $235 million, suggesting increased speculation on the token’s future price.

> Our Technical Roadmap is Live!
> Story is committed to driving continuous improvements to L1 performance, reliability, and decentralization.
> And built on top of our L1 infrastructure is a unique stack of IP-focused product features and applications.
> Dive in ↴
> — Story (꧁IP꧂) (@StoryProtocol) February 20, 2025

Other altcoins like Sonic (S), Sei (SEI), and Celestia (TIA) have also performed well, each jumping over 15% in the last 24 hours.

Launched by PIP Labs, Story Protocol debuted its public testnet in August 2024 after raising $80 million in a Series B funding led by Andreessen Horowitz. The protocol has secured $140 million in total funding to reshape IP management, focusing on the future role of AI in this sector.

Edited by Andrew Hayward