Table of Contents
Storj Token Fundamental Analysis
STORJ is an Ethereum-based token powering Storj Network, which serves as a commercially available decentralized cloud storage. Storj is one of the older blockchain projects, founded in 2014, initially envisioned as an encoded crypto storage platform, later transformed into the network model. Now it’s an open-source project, providing private, secure, highly available storage for individual or enterprise-grade projects.
Storj allows anyone with the extra disk space and bandwidth (there are some other requirements, but none of them are prohibitive) to run a node enabling them to share their resources with the users who need them. The objects that users put into the storage get encrypted and split into 80 parts, which helps keep the security level high. Note that to retrieve this information, a user needs to access only 29 parts of 80. This redundancy provides a fast and easy way to access the whole object, making the technology resistant to node failures. The network overall is secured using the Proof-of-Work consensus protocol. To make the user experience while working with Storj smoother, it’s integrated with some tools like file connectors and dashboards.
STORJ token is used to incentivize nodes providing resources and securing the network. It also serves as a means of payment for commercial storage services.
Storj Token Live Price Chart
At the initial token sale and for some time after, in 2017-2018, Storj experienced a price surge when it reached up to $2.5. Around the time the project was launched in late 2018, the price settled into the ~$0.2-$0.3 range. It remained there until mid-2019, when it drifted even lower, sometimes getting under the $0.1 mark. In the summer of 2020, as the market uptrend was gaining momentum, Storj’s price grew too, again trading at around $0.3 or higher. The real breakout in price happened in early 2021 when the price first jumped higher than $0.8 in February and later beat its previous record by reaching a new all-time high on March 27. At that point, the market being close to the peak coincided with the token’s Coinbase listing, which brought Storj to the $3.91 mark. Later the same year, Storj’s price turned into decline, reaching ~$0.5. In late June 2021 Storj’s price turned up sharply, trading at up to ~$0.9, but there remains some doubt whether it’s a long-term trend reversal.
Storj Token Technical Analysis
Storj Token Price Prediction
#1. WalletInvestor STORJ Price Prediction for 2021, 2023, 2025
#2. TradingBeasts STORJ Price Prediction for 2022
#3. DigitalCoin STORJ Price Forecast for 2021, 2022, 2023, 2025
SwapSpace is a cryptocurrency exchange aggregator that allows to swap over 450 cryptos with both fixed and floating rates. We gather the rates of major crypto exchanges on the market onscreen and let our users compare and choose whatever option they like the most. We don’t add any fees over the partners’ rates, which makes the exchanges via SwapSpace profitable. The exchange time is no longer than at any of our integrated services starting from 10 minutes. SwapSpace support works 24/7.
Exchange Storj Token