Rich by Coin

Story (IP) has been one of the most talked-about tokens this week. The IP price pushed above $3.60, up roughly 33% at writing, with daily trading volume climbing past $300 million. A large share of that activity came from South Korean traders on Upbit, which accounted for nearly half of total volume. Although this rally has been quite significant, the on-chain metrics are quite mixed.

The number of active accounts and new users still remains low, which indicates that the entirety of this move is being fueled by speculative tendencies. That contrast is important as Story heads into a key week of upgrades. Moreover, tomorrow, January 14, Story will undergo a mandatory network upgrade and hard fork. The validators will be required to upgrade their software, and exchanges, including OKX, will have to temporarily halt deposits and withdrawals.

It primarily targets scalability, validator efficiency, as well as governance-related improvements. From a long-term perspective, that is constructive. In the short term, however, upgrades like this often bring volatility, especially if traders position aggressively ahead of the event. Looking beyond the hard fork, Story’s Q1 roadmap is where the long-term thesis starts to take shape.

IP Vaults are designed to let creators attach encrypted data, such as AI training sets or proprietary content, directly to on-chain IP assets. This could provide access to the licensing of secured data to business organizations and AI developers. The imminent Proof-of-Creativity Protocol V2 also seeks to integrate AI-native licensing and royalties.

If adopted by real users, these tools could turn Story into infrastructure for AI-driven content and data markets. The opportunity is large, but adoption and regulation remain key unknowns. With IP trading around $3.63, momentum is clearly on the bulls’ side. In the near term, $3.00 stands out as the most important support zone.

Holding above that level would suggest buyers are still in control after the upgrade. On the upside, $4.20 is the first major resistance to watch.