Story cryptocurrency (IP) has seen a dramatic 30% price increase in the last 24 hours, reaching almost $7.89 per token. This sudden rise has attracted attention from investors and analysts alike. Several factors are contributing to this market surge, including Grayscale’s launch of a trust that allows institutional investors to easily invest in IP and Heritage Distilling’s large-scale purchase of IP for its treasury reserves. The buyback effectively cut the circulating supply by nearly 17%, creating scarcity and increasing investor confidence. This move has been amplified by an influx of market activity, including Upbit’s listing of IP, which has contributed to a significant surge in trading volume. Additionally, short positions were liquidated as the price climbed, further driving buying pressure. This combination of institutional backing, exchange demand, and supply tightness is creating a perfect storm for this token’s breakout.