Key Notes
- South Korean exchange Upbit accounted for 45% of IP’s $272 million trading volume during the rally.
- The token broke through a prolonged downtrend that started in October 2025, crossing above key moving averages.
- Story Protocol launched a community engagement campaign to reward long-term holders coinciding with the price surge.
The price of Story Protocol’s IP token rose by more than 26% over the previous 24 hours to peak at $2.90, beating the cryptocurrency market and signaling the token’s largest intraday increase since October 2025.
According to data from CoinMarketCap, IP
IP
$2.82
24h volatility:
24.9%
Market cap:
$959.04 M
Vol. 24h:
$292.89 M
has settled to $2.75 as of the time of this article’s publication. This follows a 24-hour period during which the token saw nearly $272 million in trading volume. South Korean cryptocurrency exchange Upbit reportedly drove 45% of this volume, propelling an overall bullish sentiment for IP as the second full week of trading for the year gets underway.
IP claims the top slot as highest gaining cryptocurrency by 24-hour price increase. Source: CoinMarketCap
Community Sentiment Drives Price Activity
With nearly half of the volume coming from activity on Upbit, it’s difficult to pinpoint a general market driver for the token beyond geography. Despite entering the week as crypto’s strongest performer, IP’s activity appears to be largely driven by community sentiment.
Story recently announced a renewed interest in setting community standards around rewarding its longest serving members or, “OGs” as they’re referred to.
Being an OG has always been more than just a title, whether Seeker, Adept, or Ascendant.
The standard was always there: genuine, long-term community contribution.
With the help of our community, it’s time to refine those standards even further.
What it means to be an OG ↴ pic.twitter.com/Y7Ey4pblxQ
— Story (@StoryProtocol) December 28, 2025
The timing of the community engagement campaign coincides with IP’s recent price flip. After peaking at around $13.72 in September 2025, the token experienced an extended downturn.
From a technical perspective, the daily chart shows IP breaking out of a prolonged downtrend. The token’s price has crossed above its moving averages, signaling potential trend reversal momentum. The RSI indicator has surged into positive territory after spending months in oversold conditions, reflecting renewed buying pressure. This technical breakout, combined with the price reclaiming the $2.50 support level that held during December 2025, suggests growing momentum, though traders should watch for confirmation of sustained volume above key resistance levels.
Story rallied more than 25% over 24 hours to kick off the week | Source: TradingView
While current sentiment for IP appears to remain bullish following this technical breakout, the token’s sustainability hinges on broader market participation. The heavy concentration of trading volume on Upbit raises questions about whether this momentum can extend beyond regional interest. Without greater indication of diverse market engagement to push prices decisively above the $2.60 resistance threshold, the current price point of $2.77 represents a cautiously optimistic but unconfirmed signal for the next 24-hour cycle.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Tristan is a technology journalist and editorial leader with 8 years of experience covering science, deep tech, finance, politics, and business. Before joining Coinspeaker, he wrote for Cointelegraph and TNW.
