Story’s IP token continues to capture attention as one of the few bright spots in an otherwise struggling crypto market. While major altcoins tread water, IP has added over 20% in a week and jumped another 9.29% in the last 24 hours, now trading at $5.23. This move cements its position above a level that traders have been watching closely since March.
Market watchers have noted that IP’s daily trading volume rose to $83.83 million in the past 24 hours, marking a 31.2% surge. Combined with consistent spot inflows topping $5 million this week, it’s clear that fresh capital keeps pouring in despite profit-taking across the board.
The IP/USD chart shows the token firmly holding an ascending trendline that began forming on July 11. This structure reflects a clear pattern of higher lows, encouraging buyers to stay in play. For traders, the next hurdle sits near the March peak of $5.59, which could come into focus if IP keeps defending the crucial $4.92 level it just broke.
Futures traders have backed this up with a steady positive funding rate since July 20. A positive funding rate means traders are paying extra to maintain long positions, a sign they expect further upside. It’s an encouraging signal that momentum may not fade just yet.
While some wallets took profits with a modest $157,000 net outflow today, broader sentiment remains upbeat. Bulls see any pullback toward $4.92 as an opportunity to reload before the next leg up.
Story’s IP now sits on a market cap of $1.54 billion, a level that strengthens its status among mid-cap altcoins attracting fresh interest. For many investors, the recent rally is evidence that solid fundamentals, paired with disciplined accumulation, can keep a token moving against broader market tides.
If buying pressure holds and fresh inflows keep pace, IP’s next big test will be reclaiming its March high of $5.59. Traders and investors alike will watch whether spot inflows remain steady and futures funding stays positive in the days ahead.
