The STORJ token has increased by more than 46% in the past 24 hours.
Upbit STORJ/KRW, Koreas largest exchange, contributes 57.04% of the total spot trading volume of about $259 million.
On Binance, STORJ/USDT is trading at $0.4917, while on Upbit, the price is $0.5022.
The STORJ token has increased by more than 46% in the past 24 hours. STORJ/KRW on Upbit, Koreas largest exchange, contributes 57.04% of the entire spot trading volume.
In the midst of the cryptocurrencys price decline due to the strong influence of Bitcoin and Ethereum, STOJI emerged as one of the most muscular bulls, with a significant price increase in the past 24 hours. Currently, the token is trading at $0.50, up 46.2% in the last 24h and up 91% in the previous 7 days.
24h STORJ price chart. Source: CoinMarketCap
The reason for the latest price action in STORJ token can be attributed to the fact that Koreans are the STORJ/KRW trading pair on the countrys largest cryptocurrency exchange, Upbit, currently accounting for 57.04% of the total volume of crypto assets, according to CoinMarketCap.
In fact, on Binance, STORJ/USDT is trading at $0.4917, while on Upbit, the price is $0.502. For those unaware of South Korea‘s crypto scene, the country’s retail traders are known for driving up coin prices.
STORJ Market. Source: CoinMarketCap
STORJ is the native token of Storj, which uses blockchain technology and peer-to-peer protocols to provide private, encrypted, decentralized, and secure cloud storage.
The projects white paper was first published in 2014, and the latest version of Storj was released in 2019. Shawn Wilkinson and John Quinn co-founded Storj Labs, the company behind the Storj platform, in 2014. Originally, Storj was launched on top of the Bitcoin blockchain, but in 2017 it switched to Ethereum.
That same year, Storj Labs raised 910 BTC (about $460,000) in a public sale. Then in 2017, the company raised $3 million in seed funding only to raise $30 million in a token sale later that year. The project has the backing of venture capital firms such as Google Ventures, Qualcomm Ventures, and Techstars Ventures.
Out of a total supply of 424,999.998 million STORJ tokens, currently, 408,576,965 million STORJ tokens are circulating in the market with a market capitalization of $205,380,775.
Powered by blockchain technology, decentralized storage solutions like Filecoin, Storj, and Arweave slice your data into small pieces and then store the packets on linked pseudo-computers (nodes) with a decentralized network. Here, files are protected by a network that includes many different stakeholders instead of a single company.