Story Protocol's IP tokens saw a significant and rapid trading event on April 15, 2025, where prices dropped by 20% and then recovered within hours. The token's value fell from nearly $4 to $3.27 before bouncing back above $4 within a few hours. This volatility attracted considerable trading volume on the major exchanges Binance and OKX Spot, with $40 million traded before the decline and an impressive $138 million after the recovery. Notably, the broader cryptocurrency market remained stable, with Bitcoin positioned at approximately $84,000, making the focus on Story's token distinct. Speculation arose concerning potential insider trading or coordinated sales as rumors suggested discounted prices for Story Protocol’s tokens were available through OTC deals. Despite initial concerns, $1.4 million in cumulative losses in IP-tracked futures indicated that most trading was driven by spot sales rather than futures. This rapid price fluctuation caused fears reminiscent of past selloffs in crypto markets.

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