Story crypto skyrockets over 100% in July, will it see more upside ahead?

IP, the native token of the Story Protocol, surged more than 100% in July, driven by rapid ecosystem growth, expanding real-world utility, and renewed investor interest in tokenized intellectual property infrastructure.

Summary

• IP is up over 100% from its July low.
• A number of ecosystem developments have helped sustain Story Protocol’s growth.
• Story Protocol has processed more than 1.7 million on-chain IP-related transactions.

According to data from crypto.news, Story (IP) was trading at $5.95 as of Friday, August 1, with its market capitalization standing at approximately $1.75 billion. The token is now up over 105% from its July low and nearly 140% from its year-to-date bottom, marking one of the strongest monthly performances among top mid-cap altcoins.

Why did IP soar in July?

IP’s rally has been underpinned by mounting user activity and adoption. The Story Protocol has processed more than 1.7 million on-chain IP-related transactions and currently supports over 200,000 monthly active users, according to recently released figures in its latest report. Use cases span from content creators tagging their likeness in video footage to AI developers sourcing compliant training data.

Additionally, Poseidon, a decentralized AI data pipeline incubated by Story, has drawn institutional attention. In late July, the project secured $15 million in seed funding led by a16z Crypto, aiming to tokenize real-world data, such as surgical robotics inputs and autonomous vehicle datasets, as IP assets on the Story chain. This move expands the protocol’s application beyond creative licensing into AI infrastructure.

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For the uninitiated, Story Protocol is an EVM-compatible Layer‑1 blockchain designed specifically for on‑chain intellectual property, from creative assets to real-world data. Launched publicly on Feb. 13, 2025, it introduces “IP Legos” (NFT-based on-chain IP assets), programmable licensing and royalty modules, and a global provenance registry for remix-friendly attribution and monetization.

Since launch, Story has enabled tokenization of high-profile music IP, including hits like Justin Bieber’s “Peaches”, Miley Cyrus & Dua Lipa’s “Prisoner”, Maroon 5’s “Nobody’s Love”, Katy Perry’s “Daisies”, and selected BLACKPINK catalog titles, transforming them into smart-contract–enabled, fractional royalty‑generating digital assets.

Will the gains continue?

A number of recent developments have positioned Story Protocol as one of the most talked-about altcoins of the season, fueled by narrative strength and real-world traction.

Some key developments include:

• Grayscale Story Trust launch: Grayscale Investments, one of the largest digital-asset managers, launched a dedicated single-asset trust for the IP token on July 31. The product opened with approximately $33 million in AUM, offering institutional investors regulated access to Story without directly holding the token.

• ip.world V2 rollout: Story’s meme IP tokenization platform launched its second version in July, introducing “Evil Larry,” a programmable meme asset that reached a market cap of over $13 million within days. ip.world brings a consumer-facing layer to the Story ecosystem, allowing communities to tokenize viral content and manage its licensing through built-in virality metrics and social governance mechanisms.

• Introduction of remixable IP architecture: Story Protocol now enables on-chain permissioning for derivative works, allowing any registered asset, whether a song, video clip, or dataset, to be legally remixed and monetized. This “remix economy” structure facilitates downstream creativity while ensuring attribution and shared royalties via smart contracts. It is a major step forward in fostering open collaboration across the creative and AI sectors.

IP price analysis

On the daily chart, IP has been trading within an ascending wedge pattern since breaking out of its early accumulation range in the late June to early July period. The pattern shows prices making slightly higher highs and higher lows, which usually means the market is getting ready for a breakout or a reversal.

IP price, 20-day, 50-day and 100-day SMA chart — Aug. 1 | Source: crypto.news

The token is trading above its 20-day, 50-day, and 200-day moving averages, which is a strong bullish sign. This means both short-term and long-term traders are supporting the uptrend, suggesting that momentum is likely to continue.

Additionally, the Average Directional Index has risen to 63, well above the critical threshold of 25. Readings above 25 indicate a strong trend, and those exceeding 50 suggest very strong directional momentum, in this case, favoring the bulls.

Momentum indicators such as the MACD also point upward. The signal and MACD lines remain in a positive crossover, while growing green histogram bars suggest that buyers are still in control.

IP MACD and RSI chart — Aug. 1 | Source: crypto.news

Hence, a confirmed breakout from the upper trendline of the wedge at $6.63, a resistance level that has rejected price action multiple times this year, could trigger a sharp upward move. According to the extended Fibonacci retracement levels, the next major target lies at $9.20, nearly 55% above the current price level.

While IP’s strong July rally and an overbought RSI reading may lead to short-term profit-taking or localized corrections, the protocol’s deepening utility, institutional alignment, and community-driven innovation offer a compelling foundation a strong foundation for sustained upside this bull season.

Read more: Pi Network dumps hard, will PI recover?

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