Overview
Story Protocol’s IP tokens experienced a notable price shift of 20% on Monday, plunging and recovering quickly within hours in a volatile trading session.
Key Highlights:
- The price fell from approximately $4 to $3.27, later bouncing back to over $4 within a few hours.
- Significant trading activity was observed on major exchanges, notably Binance and OKX Spot, registering over $40 million in volume prior to the drop and $138 million during the recovery.
- This sudden price movement appeared to be detached from overall market trends, raising questions regarding potential insider trading or coordinated selling.
Market Activity
The crypto market remained largely stable, with Bitcoin around $84,000, making the abrupt movement of the IP token particularly conspicuous. Speculation suggested that a large volume of IP tokens and others were sold via OTC deals, hinting at possible insider actions within crypto networks.
“I wonder if this is related to the Market maker by the name of S too… I wonder https://t.co/evsg679oJW” — Mosi (@VannaCharmer) on April 14, 2025.
Furthermore, IP-focused futures displayed cumulative losses of only $1.4 million, indicating that the trading was primarily led by spot transactions rather than derivatives.
Background on Story Protocol
Story Protocol is a Layer 1 blockchain designed to facilitate the tokenization of intellectual property (IP), enabling creators to register, license, and monetize their work on-chain.
