According to CoinDesk, from last night to the early morning of this day, Story Protocol's IP token plummeted 20% during a trading session and gave up all gains in a few hours. Within four hours, the IP token price fell from nearly $4 to $3.27, and rebounded to more than $4 within a few hours after hitting the low of the day. Most of the trading volume in this incident was concentrated on major exchanges such as Binance and OKX spot, with trading volume exceeding $40 million before the plunge and trading volume reached $138 million after the rebound. At the time, the wider crypto market was relatively stable, with Bitcoin trading at about $84,000 and no significant impact on the general trend of altcoins. This makes the sudden plunge and rebound of IP tokens an isolated event. There are rumors that a large number of IP tokens, as well as other tokens such as MOVE and LAYER, are sold at discounted prices through OTC transactions. This has sparked speculation in the cryptocurrency circle about insider trading or coordinated selling. The volatility has sparked early concerns about a Mantra (OM)-like sell-off event. Previously on Sunday, Mantra (OM) plummeted 90% in a few hours.