Story's IP token pops on Origin Summit news, but risks loom - CoinJournal

CoinJournal reports on Story Protocol's IP token surge following major announcements and institutional investment developments.

Story Protocol's native IP token experienced a sharp rally from $5.60 to $6.55 after announcing the Origin Summit in Seoul and securing significant institutional backing. The September event will feature industry leaders from music, entertainment, and finance, including executives from BLACKPINK's label and Baby Shark creators. Heritage Distilling completed a $223.8 million investment, acquiring 53.2 million IP tokens worth approximately $320 million.

• Origin Summit scheduled for September 23 in Seoul with high-profile speakers from entertainment and crypto industries
• Heritage Distilling secured $223.8M deal through PIPE financing, holding substantial IP token reserves
• Token price rallied 17% before profit-taking pulled it back to $6.0-$6.2 range
• Technical indicators suggest potential short-term bearish pullback despite longer-term bullish trends