Story’s IP Token Soars 25% After $220 Million Treasury Bet by Nasdaq-Listed Firm

IP, the native token of Story Protocol—an intellectual property-focused Layer 1 blockchain—has emerged as one of today’s best-performing assets, surging nearly 25% in the past 24 hours.

The rally follows a major announcement from Heritage Distilling, which revealed it is taking the “first of many steps” in executing a treasury reserve strategy built around the token. With on-chain and technical indicators pointing to heightened participation from retail traders, IP appears poised to extend its gains.

Heritage Distilling’s Treasury Strategy Puts IP in the Spotlight

IP’s price has surged by double digits over the past 24 hours, making it one of today’s best-performing assets. The rally follows an announcement from Heritage Distilling Holding Company, which confirmed it is executing its newly launched “IP Strategy.”

This strategy positions Heritage as the first Nasdaq-listed company to adopt a treasury reserve plan centered on IP. It also signals a step toward institutional adoption of programmable intellectual property as a digital asset.

Heritage added that it had secured $220 million in financing in August through a private investment in public equity (PIPE) round to fund its IP purchases.

The raise drew backing from major institutional investors, including a16z crypto, Arrington Capital, dao5, Hashed, Polychain Capital, and Selini Capital. Cantor Fitzgerald and Roth Capital Partners served as placement agents.

Trading Volume Explodes, Signaling Conviction Behind the Rally

The hype surrounding the announcement drove IP to a new all-time high of $11.84 on Tuesday before retreating to $10.28 at press time.

Despite the pullback, buy-side pressure remains strong across spot markets, highlighted by its strengthening daily trading volume. As of this writing, the volume has totaled $650 million, rising by over 650% in the past day.

For token TA and market updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter

PI Price and Trading Volume. Source:

When a surging trading volume accompanies an asset’s price rally, it signals strong conviction behind the move. It suggests that buyers are driving prices higher and doing so with increasing participation. This trend strengthens the likelihood of a sustained IP uptrend, as heightened liquidity provides deeper support for continued gains.

Moreover, the setup of the token’s Moving Average Convergence Divergence (MACD) indicator on the daily chart supports this bullish outlook. As of this writing, IP’s MACD line (blue) rests above its signal line (orange), reflecting the bullish dominance.

IP MACD. Source:

The MACD is a momentum indicator that helps traders identify potential shifts in trend strength and direction.

When the MACD line is positioned above its signal line, bullish momentum is in control, suggesting IP could sustain its upward trajectory in the near term.

Can Bulls Push Past $11.84 or Will Profit-Taking Take Over?

A sustained buy-side pressure could make IP revisit its all-time high of $11.84. If the bulls maintain control, the token could extend its rally beyond this mark and attempt to record a new price peak.