Story Protocol (IP) rallied to an all-time high at $11.66 after being selected as a treasury asset

Story Protocol (IP) expanded to a new price record above $11, following the usual trajectory of tokens selected for a treasury. IP is not yet included in a treasury, but the buyer clarified the next step in the roadmap. 

Story Protocol (IP) reached a new price record, expanding to $11.66. The token added 30% to its price in the past 24 hours, with the highest trading volumes since February. IP has been on a growth track as part of the RWA tokenization and tokenized copyrights narrative. 

Story Protocol (IP) reached a new all-time high at $11.66 as Heritage Distilling announced the next steps in its treasury strategy. | Source: Coingecko

Following the IP token growth, CASH shares also recovered, rising by over 16% in the past week to trade at $0.48. The recent price moves show the treasury company narrative is still a strong positive for some stocks and tokens. 

This time, the near-vertical rally for IP was caused by the usual trajectory of tokens selected for treasuries. IP rallied alongside WLD, which is also to be included as a reserve asset. The treasury will be built with an initial PIPE financing of $220M. 

Heritage Distilling announces the next steps for the IP treasury

Heritage Distillery, one of the companies to pivot to an altcoin treasury, announced the next steps to building IP reserves. 

At the end stage, Heritage Distilling will transform into a public vehicle for the acquisition of IP tokens. At the same time, the company will pay attention to the copyright market and the preservation of intellectual rights against the demands of AI model training. 

Heritage Distilling will also appoint a board of advisors, which will include Erick Zhang, co-founder of Nomad Capital, and former CEO of CoinMarketCap.

The company will tap broad expertise to become a part of the Story Protocol ecosystem, tapping crypto-insider potential for earnings. 

The goal of Heritage Distilling is to offer investors a part of the global intellectual rights industry through IP tokens. The entire sector is valued at over $80B, and expected to retain its value with rising demand for protection.

Story Protocol grows DeFi app industry

Story Protocol aims to be the world’s IP chain, mostly creating a native environment for intellectual property rights. 

The chain carries a small DeFi selection of apps, carrying $41.42M in value locked. Recently, the chain’s ecosystem reached a new all-time peak for value locked as IP appreciated. 

The chain carries around 11K daily active addresses, comparable to other Web3 platforms. For now, the IP token rally has a strong element of hype. The rapid rally also reflects the effect of Korean won trading. Over 18% of all IP trades are against the South Korean won, tapping a highly liquid and exuberant market.

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