Story Protocol (IP) – a Layer 1 built to tokenize intellectual property to ensure that original content creators are fairly rewarded for their intellectual labor. The project raised $134.3 million and is set to officially launch its mainnet and list on exchanges on February 13.
Here are the observations from BeInCrypto on the price predictions for Story Protocol (IP) when it lists on exchanges in the current market context.
Also Read: Story Protocol (IP) Announces Tokenomics: 10% for Airdrop
How is the community predicting the price of Story Protocol (IP)?
After completing its Series B funding round in August 2024, Story Protocol (IP) was valued at $2.25 billion. If this is considered the fully diluted valuation (FDV), then with a total supply of 1 billion IP, the price of IP would be around $2.25.
However, observing the pre-market price of IP on Gate.io, IP is currently trading around $3 - $4 and has a bullish trend. Similarly, the pre-market price of IP on Bybit at the time of writing is also around $3.7. Thus, the market is valuing Story Protocol at around $3 billion to $4 billion.
Price movement of Story Protocol (IP) in the pre-market. Source: Gate.io.However, for many investors, the FDV reaching $4 billion may be a bit high considering the current market conditions. Comparing it to Berachain (BERA), another Layer 1 project that raised a similar amount ($140 million), the price has already dropped by 60% upon listing and has an FDV of only $3 billion. For this reason, many investors like Zener are tempering their expectations.
"The pre-market price seems too high for me, 1 IP ~ $4 and around $4 billion FDV. Like BERA, I think the price will drop after listing due to the high FDV and market conditions, as the current market conditions are poor. If the IP token had been listed two months earlier, things might have played out very differently (in a more positive direction)." – Zener predicts.
In the current market context, many newly listed tokens have a tendency to experience significant declines, even those backed by VCs and promoted by celebrities. The market is showing technical signals that predict the possibility of entering a bear market. Many investors have left the market at a loss or are seeking opportunities in airdrops.
Observing community discussions, BeInCrypto has noticed many predictions that the price of IP will reach $5 to $8 upon listing. The most optimistic opinions suggest that Story Protocol is the first protocol focused on tokenizing intellectual property assets with a market size of $61 trillion. Therefore, the valuation of IP should be higher than that.
"Aptos didn't do anything and still has a $10 billion FDV. Story Protocol is the first Layer-1 focused on bringing IP on-chain. The real-world market capitalization of IP is $61 trillion. So an FDV of $69 billion for IP upon launch seems reasonable." – Investor Anon Vee predicts.
Combining the observations above, it can be predicted that the price movement of IP will initially reach a high of around $8 upon listing, but will then adjust and drop significantly to a low of $2.5 - $3, which would be more in line with the initial valuation. Investor 0xww believes that if IP has a market capitalization of around $500 million - $1 billion (equivalent to a price of $0.5 - $1 per IP), it would open up opportunities for 5 to 10 times profits in the long term.
At the time of writing, a number of exchanges have announced support for the listing of IP, including MEXC, Bitget, ByBit, KuCoin, OKX, and Coinbase has also announced support for IP trading.
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