Co-founder of Story Protocol (IP) departs from project but vows to continue as 'strategic advisor'
Departure of Jason Zhao: Story Protocol co-founder Jason Zhao announced his departure from the core team, transitioning to a strategic advisor role, which has led to accusations of him potentially walking away with $281 million in tokens.
Community Backlash: The crypto community reacted negatively to Zhao's exit, with many accusing him of a "rug-pull" and expressing concerns about the future of the project, especially given its significant venture capital backing.
Funding and Token Performance: Story Protocol has raised approximately $134.3 million in equity funding and secured an $82 million token-based investment, but the native token IP has seen a decline of over 15% in the past week following Zhao's announcement.
Future Leadership: Zhao stated that he is stepping down to focus on a new project, Poseidon, while announcing new leadership for Story Protocol, indicating a shift in direction for the company amidst ongoing volatility in its token market.
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Technical Analysis for DATA
Technical Sentiment Analysis for Streamr (DATA). As of , Streamr (DATA) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 2 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for DATA stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, DATA is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Streamr (DATA) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000703 | 0.000838 | 0.000938 | 0.00107 | 0.00117 | 0.00131 | 0.00141 |
| Fibonacci | 0.000838 | 0.000928 | 0.000984 | 0.00107 | 0.00116 | 0.00122 | 0.00131 |
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