Story (IP) Soars 100%, But On-Chain Data Tells Another Tale

Jakarta, Pintu News – Story is a Layer-1 blockchain specifically designed to bring intellectual property (IP) into the blockchain network and convert it into programmable assets.

In early 2026, the IP token experienced a significant recovery. Its price doubled, from a low of around $1.50 to over $3.00. What drove this recovery? And is this upward trend strong enough to continue in the next few months?

Korean traders push up IP prices

Trading data shows that South Korean traders have been a major contributor to the recent surge in IP token prices.

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According to data from CoinGecko, IP’s daily trading volume surpassed $300 million on January 13. This is the highest since the massive sell-off in October last year, when IP prices plummeted by more than 80% in a single day.

Upbit crypto exchanges accounted for more than 47% of the total trading volume. Upbit itself is one of the largest crypto platforms in South Korea. This fact confirms that Korean traders are the main force behind the IP price rally.

On Upbit, the IP/KRW trading pair also recorded over 12% of the total trading activity – taking second place to the XRP/KRW pair.

However, Upbit’s dominance also suggests that the price spike is driven more by regional demand than global adoption.

Some analysts also believe that whale action played a role in driving this rally.

“Story Protocol recorded the most gains this week. With a price increase of more than 30%, IP tokens rallied as the project narrative gained traction again. Trading volume jumped sharply as new investors and whales entered,” said Investor Sjuul of AltCryptoGems.

IP User Data Shows No Breakthrough

Despite the surge in IP prices, the on-chain data shows something different. This price rally does not seem to be supported by strong fundamentals.

Based on data from Storyscan, the number of active accounts on the Story network has remained relatively stagnant in recent months.

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The numbers have even dropped dramatically – from more than 10,000 last year to less than 500 today. This decline reflects a shrinkage of about 95%. The number of daily new users on this Layer-1 network has also barely changed, remaining below 100 per day. This is significantly lower than the average of over 2,000 per day recorded in August and September last year.

This data indicates that price spikes are driven more by speculation and increased trading volumes, rather than real network growth such as increased IP tokenization or real-world usage.

Meanwhile, technical analysts are starting to warn of downside risks. On the daily chart, IP prices are now approaching an important resistance zone between $3.00 and $3.30.

“On the daily timeframe, IP showed a strong upward movement with large candles and solid indicators. However, the price is now near the $3.0-$3.3 resistance zone. If a breakout occurs, this could signal a change in character and the beginning of a bullish trend. But it’s best to wait for confirmation – no rush,” commented CryptoPulse.

Although IP prices have doubled and trading volumes have soared, the token’s value is still down about 80% from its peak of $15 last year. The long-term growth of this altcoin will largely depend on real adoption by users and the growing demand for decentralized IP management systems.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. Why Story IP Price Rebounds. Accessed on January 14, 2026