W1 trillion poured in a day… Why Story (IP) surged 100% in just three days

Updated 5:07 p.m. · 2026. 01. 14.Entered 5:06 p.m. · 2026. 01. 14.

IP coin’s daily trading volume on the 14th nears W1 trillion

Tailwinds from the ‘AI theme’ and a ‘network upgrade’

String of positives including token buybacks and U.S. institutional demand

Rumors also swirl of a collaboration agreement with Tesla

Story (IP), the native token of the blockchain-based intellectual property (IP) infrastructure project Story Protocol, is surging as tailwinds for AI-themed coins and expectations around a mainnet update fuel buying.

As of the 14th (local time), IP was up 33.6% day on day to $4.02 on CoinMarketCap, and was trading at W5,820 on Upbit’s KRW market. It has gained roughly 100% over the past three days since the 12th. IP’s global trading volume on the day reached $662.19 million (about W977 billion).

The move follows similar-sized rallies in AI-related tokens such as Render and Virtual earlier this year, suggesting speculative demand tied to the AI theme has rotated into Story, another AI-linked coin.

Story Protocol is a Layer 1 blockchain designed to handle the full lifecycle of IP on-chain—from registration and licensing to revenue distribution. By enabling creative works and AI training data to be managed as smart-contract-based assets, it is being cited as a potential core infrastructure layer for the AI era.

Recent market expectations have also been lifted by mainnet-related updates and ecosystem expansion plans. Story is scheduled to roll out an upgrade on the 14th that applies proposals from Ethereum’s Fusaka upgrade to the Story network. With deposits and withdrawals of IP restricted at major exchanges from tonight, speculative demand seeking to capitalize on the event is also believed to have piled in.

Analysts also point to the extension of the previously known IP token buyback program and positive catalysts tied to U.S. institutional demand as key drivers of the rally.

The Story Foundation said late last year that it would extend its IP token buyback (open-market purchases) program through Feb. 1, 2026, and expand the purchase size from $82 million to $100 million (about W147 billion).

Grayscale, the largest U.S. crypto asset manager with about W50 quadrillion in assets under management, launched an IP token trust product for institutional investors in August last year. Commentary has followed that, compared with other altcoins, easier access for U.S. institutional investors may also have supported the price.

Grayscale said on the 12th that it designated Poseidon—Story’s subsidiary and an AI data-licensing project—and Aria Protocol (Ariaip), a Story-based copyright-related project, as candidates for “investment products.”

The list is a disclosure in which Grayscale selects and publishes digital assets it is reviewing for potential launches of new institutional products or expansions of existing offerings.

Separately, rumors have circulated in some Story communities on X and Telegram that Story’s “Poseidon” has signed a collaboration agreement with Tesla, the world’s largest electric-vehicle company.

In response, a Story official said, “It’s difficult to comment on cooperation with specific companies,” adding, “Story and Poseidon have focused on IT infrastructure for the AI era. We expect meaningful results related to this to emerge in the first half of this year.”