On-Chain Data Warns the Rally May Be Fragile

[madtrader]

Despite the surge in price and volume, user activity on the Story network remains weak. Data from Storyscan shows daily active accounts have fallen by roughly 95% from last year’s highs, while new user creation remains well below historical averages.

This disconnect suggests speculation—not real network growth—is powering the rebound. With IP still down around 80% from its $15 peak and price approaching a key resistance zone near $3.30, analysts caution that long-term upside will depend on renewed adoption and real demand for decentralized IP management, not trading hype alone.

[AIcash]

price going up while users disappear is never a great combo