Story Protocol Experiences 35% Surge Amid $82 Million Buyback and Upbit Listing

Story Protocol's IP token surged 35% on August 31, 2025, driven by a $82 million buyback by Heritage Distilling and a new listing on Upbit. This move led to significant institutional interest and liquidity, with market makers Wintermute and Selini providing support. The listing accounted for 30% of the daily trading volume, signaling confidence in the token's future value. This event is rare and demonstrates the impact of institutional actions on market perception and liquidity.

Story Protocol's IP token experienced a significant 35% surge on August 31, 2025, driven by a $82 million buyback by Heritage Distilling and a new listing on Upbit. This move led to substantial institutional interest and liquidity, with market makers Wintermute and Selini providing support. The listing accounted for 30% of the daily trading volume, signaling confidence in the token's future value.

The buyback, initiated by Heritage Distilling, saw the company allocate $82 million to purchase IP tokens at approximately $3.40 each. This move created a strong demand floor and signaled institutional conviction in the token's long-term potential [1]. The Upbit listing, contributing roughly 30% of daily volume, broadened market access in Korea, attracting regional liquidity and amplifying price discovery.

Market makers like Wintermute and Selini played a crucial role in the price surge by providing liquidity and tightening spreads, enabling continuous order refilling. On-chain data revealed significant trading volume spikes and whale activity, indicating active large-holder movement that often precedes volatility and trading opportunities [2].

At press time, IP traded near $7.75 after a 35% 24-hour gain. Technical indicators showed IP cleared resistance at $7.10, with the Supertrend flipping green and the RSI at 67, still below overbought levels, implying room to run if volume sustains [3].

The event is rare and demonstrates the impact of institutional actions on market perception and liquidity. As Story Protocol continues to develop its programmable intellectual property ecosystem, investors and financial professionals will closely watch how these moves translate into value and long-term success.

References:
[1] https://www.bitcoininsider.org/article/284168/story-protocol-ip-kicks-82m-three-month-buyback-after-financing-deal
[2] https://en.coinotag.com/story-protocol-ip-may-extend-gains-after-35-rally-volume-spike-linked-to-buyback-and-upbit-listing/
[3] https://en.coinotag.com/story-protocol-ip-may-extend-gains-after-35-rally-volume-spike-linked-to-buyback-and-upbit-listing/