Story Protocol tumbled 7.7% on Monday despite Heritage Distilling announcing a groundbreaking $360 million IP token reserve, marking the first Nasdaq-listed company to adopt IP as its primary treasury asset.
By Ibrahim Ajibade
Editor Marco T. Lanz
Updated
4 mins read
Story Protocol IP $6.14 24h volatility: 11.5% Market cap: $1.82 B Vol. 24h: $112.18 M tumbled 7.7% to $6.35 on Monday, August 11, despite positive sentiment within the broader market that saw the likes of Ethereum, Solana and XRP all book considerable gains intraday.
Story Protocol’s underwhelming intraday price performance comes amid heavy profit-taking that ensued after the IP price crossed the $7 mark over the weekend, for the first time since February 2025.
Story Protocol Price Action | CoinMarketCap, Aug. 11, 2025
However, a historic treasury announcement from Nasdaq-listed firm Heritage Distilling could potentially reignite the IP price rally, as seen after Grayscale launched its Story Trust Fund in July.
On Monday, Heritage Distilling (Nasdaq: CASK) and the Story Foundation jointly revealed the launch of a $360 million $IP token reserve, backed by a $220 million PIPE financing and strategic investors including a16z crypto, Amber Group, and Polychain Capital.
Under the deal, Heritage will allocate $82 million to purchase $IP tokens from the open market within 90 days, adding to the $120 million in tokens acquired directly from the Story Foundation at a fixed $3.40 per token. At completion, Heritage’s treasury will hold approximately 52.5 million $IP tokens, valued at $361 million based on August 10 closing prices.
Heritage positions itself as the first Nasdaq-listed company to use $IP—the native token of the Story blockchain—as its primary reserve asset. $IP powers transactions for registering and monetizing intellectual property on-chain, with applications across AI workflows, licensing, and DeFi-based yield generation.
“This transaction represents a bold leap forward, not just for Heritage, but for how public companies can participate in the digital asset economy,” said Justin Stiefel, CEO of Heritage.
While the IP price reaction remains muted below the $6.40 resistance, key opinion leaders within the crypto industry have reacted positively to the announcement.
Posting on X, Blockworks Research co-founder Jason Yanowitz noted that it was a16z’s first Digital Asset Treasury (DAT) investment and Cantor Fitzgerald‘s first underwriting of a non-BTC/ETH/SOL treasury company. Yanowitz emphasized that framing $IP as a public market play on AI represents a new stage for corporate adoption.
Big treasury deal.
A few interesting call outs:
1) Think this is a16z's first DAT
2) And Cantor's first underwriting of a non BTC/ETH/SOL treasury company
3) $360M reserve, $220M via PIPE ($100M cash, $120M IP tokens), $82M will be used to purchase $IP in the open market… pic.twitter.com/XOwzZRsufA
— Yano 🟪 (@JasonYanowitz) August 11, 2025
The daily Story Protocol (IP) price chart below shows a clear pullback from the recent $7.01 high, with the price dropping 7.66% to $6.35. Despite the decline, the token remains above its key support level at $5.89 (midline of the Keltner Channel).
Moreover, the MACD histogram has flattened, with the MACD and signal lines nearly converging, signaling active profit-taking and weak buying momentum after a strong July rally. If selling continues, the lower Keltner support at $4.85 becomes the next critical downside target.
Story Protocol (IP) Price Forecast
In a bullish scenario, if the IP price can hold above $5.89 and reclaim $6.94 resistance (upper Keltner Channel), the next upside target sits near $7.50. A breakout above that would likely trigger momentum buying, potentially retesting $8.00 psychological resistance.
Conversely, a close below $5.89 could accelerate losses toward $4.85. Breaking this would risk invalidating the recent uptrend, exposing the $4.00 handle.
In summary, with the active profit-taking nullifying the immediate impact of the treasury accumulation and AI-partnership announcements, the IP price looks set for a prolonged consolidation between $5.90 and $6.94.
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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.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.