A theoretical opinion to start the week
We suspect @StoryProtocol foundation artificially pumped $IP token prices to forcibly trigger short squeezes to inflate $IP spot trading activities, to liquidate its tokens, and to secure additional exchange listings on Binance.
We received some insights from our friends in the @berachain community, consider this a little karma returned.
We are calling on @a16z to request for a clarification whether the investment proceeds were used to purchase tokens in large volume on exchanges, rather than to build as promised.
We are urging @coinbase@OKX@Bybit_Official to investigate Story Protocol
Finally, we demand that @StoryProtocol publicly confirm whether or not they misused funds for trading activities instead of development.
The details below are based on our analysis and interpretation of on-chain analysis. If you believe any of them are inaccurate, feel free to share and add your claims.
@storysylee recursive pattern of price spiking followed by controlled selling. Maybe team selling despite the buyback announcement. Thoughts?
https://t.co/9vzrObdEts
They preach buybacks, but in reality, they are selling straight into your face.
Remember we constantly warned about coordinated outflows of $IP tokens by @storyfoundation before the previous pumps?
A total of 20M+ tokens were collectively withdrawn to the following addresses:
0x4bb9cdB0b6512F83A6B7CEB61ba45a7c64B02279
0x615DfC998f8AeaC06BD9E642C4458eD2738b977d
0x13FD86498F9ec39C984f3094AF09956DBc716436
0x5F8d1bbD7cFeeAD15CAE9E911982B8B92cc3EB51
0x7890dba2A6D77398e22bb705dA57838F23B3D783
These addresses collectively deposited into OKX exchange on July 8th. The token price immediately pumped to $4 afterwards.
Suspicion:
@storyfoundation deposited these tokens long before their DAT announcement to avoid attraction, and have been continuously selling their tokens to retail investors every time a pump occurs? Let's see
They preach buybacks, but in reality, they are selling straight into your face.
Remember we constantly warned about coordinated outflows of $IP tokens by @storyfoundation before the previous pumps?
A total of 20M+ tokens were collectively withdrawn to the following addresses:
0x4bb9cdB0b6512F83A6B7CEB61ba45a7c64B02279
0x615DfC998f8AeaC06BD9E642C4458eD2738b977d
0x13FD86498F9ec39C984f3094AF09956DBc716436
0x5F8d1bbD7cFeeAD15CAE9E911982B8B92cc3EB51
0x7890dba2A6D77398e22bb705dA57838F23B3D783
These addresses collectively deposited into OKX exchange on July 8th. The token price immediately pumped to $4 afterwards.
Suspicion:
@storyfoundation deposited these tokens long before their DAT announcement to avoid attraction, and have been continuously selling their tokens to retail investors every time a pump occurs? Let's see
CT, $SAROS is a definite scam project. Southeast Asia based coin ruggers, including ex- @coin98_wallet founding members are involved and are actively engaging in wash trading and supply control to inflate FDV.
If you buy this shitcoin now, you’ll likely be providing them with exit liquidity.
Rumors from former insiders @saros_xyz suggest they plan to initiate liquidation soon when volume pumps up. They have been rejecting offers from @binance and other CEXs, as doing so would compromise their ability to maintain supply control.
They are allegedly tapping @BithumbOfficial and @coinbase to find additional exit liquidity.
CT, $SAROS is a definite scam project. Southeast Asia based coin ruggers, including ex- @coin98_wallet founding members are involved and are actively engaging in wash trading and supply control to inflate FDV.
If you buy this shitcoin now, you’ll likely be providing them with exit liquidity.
Rumors from former insiders @saros_xyz suggest they plan to initiate liquidation soon when volume pumps up. They have been rejecting offers from @binance and other CEXs, as doing so would compromise their ability to maintain supply control.
They are allegedly tapping @BithumbOfficial and @coinbase to find additional exit liquidity.
CT, $SAROS is a definite scam project. Southeast Asia based coin ruggers, including ex- @coin98_wallet founding members are involved and are actively engaging in wash trading and supply control to inflate FDV.
If you buy this shitcoin now, you’ll likely be providing them with exit liquidity.
Rumors from former insiders @saros_xyz suggest they plan to initiate liquidation soon when volume pumps up. They have been rejecting offers from @binance and other CEXs, as doing so would compromise their ability to maintain supply control.
They are allegedly tapping @BithumbOfficial and @coinbase to find additional exit liquidity.
CT, $SAROS is a definite scam project. Southeast Asia based coin ruggers, including ex- @coin98_wallet founding members are involved and are actively engaging in wash trading and supply control to inflate FDV.
If you buy this shitcoin now, you’ll likely be providing them with exit liquidity.
Rumors from former insiders @saros_xyz suggest they plan to initiate liquidation soon when volume pumps up. They have been rejecting offers from @binance and other CEXs, as doing so would compromise their ability to maintain supply control.
They are allegedly tapping @BithumbOfficial and @coinbase to find additional exit liquidity.
CT, $SAROS is a definite scam project. Southeast Asia based coin ruggers, including ex- @coin98_wallet founding members are involved and are actively engaging in wash trading and supply control to inflate FDV.
If you buy this shitcoin now, you’ll likely be providing them with exit liquidity.
Rumors from former insiders @saros_xyz suggest they plan to initiate liquidation soon when volume pumps up. They have been rejecting offers from @binance and other CEXs, as doing so would compromise their ability to maintain supply control.
They are allegedly tapping @BithumbOfficial and @coinbase to find additional exit liquidity.
A theoretical opinion to start the week
We suspect @StoryProtocol foundation artificially pumped $IP token prices to forcibly trigger short squeezes to inflate $IP spot trading activities, to liquidate its tokens, and to secure additional exchange listings on Binance.
We received some insights from our friends in the @berachain community, consider this a little karma returned.
We are calling on @a16z to request for a clarification whether the investment proceeds were used to purchase tokens in large volume on exchanges, rather than to build as promised.
We are urging @coinbase@OKX@Bybit_Official to investigate Story Protocol
Finally, we demand that @StoryProtocol publicly confirm whether or not they misused funds for trading activities instead of development.
The details below are based on our analysis and interpretation of on-chain analysis. If you believe any of them are inaccurate, feel free to share and add your claims.
Volume is decreasing while the price gradually increases. How did they manage to create buying pressure ahead of the fundraising news? Stay alert for potential scams. More in-depth research to follow.
Here’s a pro tip @StoryProtocol
1. Drop a teaser saying “Big things coming. Soon.”
2. Watch the token price inflate on pure speculative demand.
3. Offload the foundation’s token stash into the hype-driven rally.
4. Announce a $10M “partnership fund” — modest enough to feel underwhelming compared to the buildup.
5. Of course, that $10M is probably denominated in the foundation’s own token, making it a zero-cost headline.
6. Token tanks. Market shrugs.
7. Investors, like yourself, are f**ked.
$IP
Here’s a pro tip @StoryProtocol
1. Drop a teaser saying “Big things coming. Soon.”
2. Watch the token price inflate on pure speculative demand.
3. Offload the foundation’s token stash into the hype-driven rally.
4. Announce a $10M “partnership fund” — modest enough to feel underwhelming compared to the buildup.
5. Of course, that $10M is probably denominated in the foundation’s own token, making it a zero-cost headline.
6. Token tanks. Market shrugs.
7. Investors, like yourself, are f**ked.
$IP
Here’s a pro tip @StoryProtocol
1. Drop a teaser saying “Big things coming. Soon.”
2. Watch the token price inflate on pure speculative demand.
3. Offload the foundation’s token stash into the hype-driven rally.
4. Announce a $10M “partnership fund” — modest enough to feel underwhelming compared to the buildup.
5. Of course, that $10M is probably denominated in the foundation’s own token, making it a zero-cost headline.
6. Token tanks. Market shrugs.
7. Investors, like yourself, are f**ked.
$IP
Somebody orchestrated a coordinated outflow of $IP from exchanges right before the pump, and now that somebody is depositing back to exchanges...
Wonder who's selling? @StoryProtocol
@zachxbt love your work, and always have loved your contents. would appreciate if you could look into suspected manipulations by foundations out there as well
https://t.co/1dQzGAJI6z
We have previously warned about the inevitable outcome of $IP by @StoryProtocol. The suspected artificially driven rally, if what we are thinking is accurate, is never sustainable.
With artificial demand fading, the token has to be under persistent downward pressure as the market begins to reprice lower. All of this is unfolding while the vast majority of tokens remain locked. What happens when vesting and unlocks begin?
Hey @a16zcrypto@cdixon perhaps it’s time to examine how the foundation has spent the investment proceeds?
We have previously warned about the inevitable outcome of $IP by @StoryProtocol. The suspected artificially driven rally, if what we are thinking is accurate, is never sustainable.
With artificial demand fading, the token has to be under persistent downward pressure as the market begins to reprice lower. All of this is unfolding while the vast majority of tokens remain locked. What happens when vesting and unlocks begin?
Hey @a16zcrypto@cdixon perhaps it’s time to examine how the foundation has spent the investment proceeds?
We have previously warned about the inevitable outcome of $IP by @StoryProtocol. The suspected artificially driven rally, if what we are thinking is accurate, is never sustainable.
With artificial demand fading, the token has to be under persistent downward pressure as the market begins to reprice lower. All of this is unfolding while the vast majority of tokens remain locked. What happens when vesting and unlocks begin?
Hey @a16zcrypto@cdixon perhaps it’s time to examine how the foundation has spent the investment proceeds?
We have previously warned about the inevitable outcome of $IP by @StoryProtocol. The suspected artificially driven rally, if what we are thinking is accurate, is never sustainable.
With artificial demand fading, the token has to be under persistent downward pressure as the market begins to reprice lower. All of this is unfolding while the vast majority of tokens remain locked. What happens when vesting and unlocks begin?
Hey @a16zcrypto@cdixon perhaps it’s time to examine how the foundation has spent the investment proceeds?
We have previously warned about the inevitable outcome of $IP by @StoryProtocol. The suspected artificially driven rally, if what we are thinking is accurate, is never sustainable.
With artificial demand fading, the token has to be under persistent downward pressure as the market begins to reprice lower. All of this is unfolding while the vast majority of tokens remain locked. What happens when vesting and unlocks begin?
Hey @a16zcrypto@cdixon perhaps it’s time to examine how the foundation has spent the investment proceeds?
We have previously warned about the inevitable outcome of $IP by @StoryProtocol. The suspected artificially driven rally, if what we are thinking is accurate, is never sustainable.
With artificial demand fading, the token has to be under persistent downward pressure as the market begins to reprice lower. All of this is unfolding while the vast majority of tokens remain locked. What happens when vesting and unlocks begin?
Hey @a16zcrypto@cdixon perhaps it’s time to examine how the foundation has spent the investment proceeds?