Story token IP rose 11 percent a day on June 21st, becoming one of the recently more volatile encryption assets. According to external sources, this round was driven more by large amounts of money than by retail traders in general, and there is still considerable disagreement about the way forward.

Big whales and contract money are going up.

Reports refer to data from the chain and derivatives that indicators to measure the difference between whale and retail activity are still in positive range, indicating that large silos dominate this turn. Often, the centralization of such funds exacerbates market sentiment and makes prices more dependent on the continued suspense of a few large households.

Similar signals have emerged in the sustainable contract market. Many platforms, including Hyperliquid, Binance, OKX, Bybit and KuCoin, have registered positive growth in the volume of IP transactions. Of this amount, Binance and OKX combined contributed approximately $42.1 million, or more than half of the $8.256 million of the total durability contract.

  • IP is growing by about 11% a day.
  • The total value of the contract is about $825.6 million.
  • Binance and OKX totalling approximately $42.1 million

Shortlines are strong and medium-term structures are still unchanged

According to external sources, the IP is still in the clean-up area in terms of the solar-line structure, and prices are not completely out of a weak pattern. Following two previous similar consolidations, prices had fallen more markedly, and the failure of the region remained an important observation point in determining the medium-term direction.

But at the 4-hour level, there's another way. The report mentions that the IP is forming a back shoulder form, which is usually seen as a short-lined and strong signal. However, in order for this structure to be in place, prices still need to effectively break through previously tested resistance positions. Short-line rebounds may be difficult to sustain if they cannot be stabilized.

We're still very cautious about the spot purchase.

In terms of the flow of chips, investor recognition of this round is low. It has been reported that cumulative/distributional indicators show that market sales and distributions are still more evident in different cycles, with some 274 million IPs traded into markets, which continues to put pressure on prices.

While there has been a slight improvement in the indicators at the solar line level, there are not yet sufficiently clear signs of continuous upward movement. It is believed that if the follow-up spot purchases are enhanced and the related indicators continue to rise, it is possible to weaken the current oscillation structure and to facilitate the completion of a clearer upward breakthrough in prices.

Overall, the growth of the IP round is more of a short-term expansion driven by finance than a shift in market coherence. The continuation of the whale hold, the ability of the resistance position to break, and the follow-up of spot money will still determine whether or not this round of rebound will continue.