Storj (STORJ) – A Relatively Unheard Crypto – Leads Gainers With 30% Rally

Christian Encila

2 years ago

2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The price of STORJ (pronounced “storage”) has increased by a little over 30 percent in the last 24 hours. According to CoinMarketCap, STORJ, an ETH token, is the 88th largest coin by market capitalization.

The token experienced a significant increase thanks to the NFT update on Friday. STORJ reached an all-time high of $0.97, a 43 percent rise from its 24-hour low.

Currently, the coin is selling at $0.9273, an increase of a remarkable 30.73 percent in the last 24 hours, according to statistics from CoinMarketCap. Additionally, its market capitalization soared from $245 million the day before to $371 million as of today.

STORJ is a platform for shared cloud storage. Instead of sending files to massive data centers, users can just store them in independent computers of the host.

STORJ Gets Strong Backing

Two requirements must be met to qualify as a host: a solid and speedy internet connection and terabytes of storage space. Users can make money by storing the files of others on their computers.

An announcement about major businesses embracing STORJ to store unique tickets, music, sports NFT assets, and gaming caused a sharp increase in the token’s price. Europa Labs, Amuzed, and Ultimate Division are the company’s newest NFT customers.

Crypto total market cap at $941 billion on the daily chart | Source: TradingView.com

Amuzed is a blockchain-based music gaming platform that allows users to listen to their favorite artists’ music using NFTs. Ultimate provides participants with a soccer-themed metaverse game in which they can earn Ultimate Division Tokens (TKDS), whereas Europa Labs wants to improve the computational capabilities of clients on their preferred data platforms.

Suggested Reading | Cosmos (ATOM) Price Swells 12% – Can It Breach Resistance?

Green Candles Show Bullish Potential

Similarly, 24-hour trading volume for STORJ has surged by more than 100 percent, reaching $408,455,560 – an increase of 127.94 percent.

Examining the STORJ/USDT daily chart, the price of STORJ has displayed green candles since June 13.

This trend persisted with small retracements on the daily chart until Friday, when the token recorded its highest green candle of the move.

In the last 10 days, the price of the asset has increased by 130 percent, from $0.4005 to its current level of $0.80.

It remains to be seen whether the relatively unheard crypto will be able to sustain this growth in the future or if it will be just another “one-hit” wonder.

Featured image from CyberBump, chart from TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.