- Story (IP) price plunged to a low of $7.13 on Friday, extending losses as traders took profits.
- IP slid as selling pressure wiped out millions of dollars in positions across the market.
- Analysts say Story’s traction as a real-world assets platform could help the IP price recover.
Story (IP), the native token of the Story Protocol, suffered a sharp correction over the past 24 hours. After rising to a new all-time high earlier in the week, the token has retraced most of those gains as market participants locked in profits.
The IP token fell more than 25% in a single day, driven by broad selling that affected major cryptocurrencies and sparked heavy liquidation across leveraged positions. The decline erased much of the recent rally that had pushed IP to peak levels.
IP price nosedives amid profit taking
Story aims to serve the intellectual property market by providing an AI-native blockchain infrastructure for tokenizing and managing IP assets, from AI models to creative works. The protocol’s IP token, which powers this infrastructure, plunged roughly 25% over 24 hours.
The sell-off pushed the token down to $7.13, intensifying the pullback that followed the token’s all-time high of $14.89. From that peak on Sept. 22, IP has lost over half its value — a decline of more than 51%.
Investor enthusiasm for Story’s programmable IP licensing and integration with decentralized applications helped fuel the earlier rally. However, as Bitcoin and other major altcoins retreated, IP saw its gains largely reversed.
According to CoinMarket data, 24-hour trading volume rose about 41% to more than $361 million, signaling a surge of sell orders. That elevated activity suggests intensified profit taking and raises the possibility of further downside for the IP-focused platform.
At the time of writing, Story trades near $7.20, marking roughly a 30% loss on a weekly basis. While Story’s real-world asset (RWA) approach is innovative, the project is not immune to the wider headwinds that press on risk assets and most cryptocurrencies during market sell-offs.
Why analysts remain bullish on Story (IP)
Despite the recent volatility, several analysts point to durable fundamentals that could support a recovery. Story’s move to tokenize notable intellectual property assets highlights tangible use cases and real-world utility for the protocol.
Partnerships, integrations and growing institutional interest in combining AI with blockchain technology bolster the bullish outlook. As real-world asset tokenization gains traction, platforms focused on the vast IP market may benefit from increased adoption.
The Story team emphasizes the protocol’s purpose-built design: enabling IP to be programmable, traceable and monetizable at global scale. Traditional blockchains can represent static ownership but lack mechanisms to embed dynamic, programmable licensing terms — a capability Story aims to provide.
Market observers have also flagged institutional developments as potential catalysts. The launch of the Story Trust and related structures could draw institutional capital and product demand, which might support token demand if adoption accelerates.
Technical analysts note that holding support above $6.00 would be important for preserving bullish momentum. A successful rebound toward $10.00 could restore confidence among traders. Conversely, a decisive break below the $6.00 demand area could expose IP to deeper losses, with downside targets quoted near $3.20.
In summary, the recent drop in IP reflects broad market profit taking and heightened selling pressure, but underlying product developments and institutional interest leave open the possibility of a recovery if buying returns to the space.