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.
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.
Despite the fact that 100% accurate technical analysis for Storj Token cryptocurrency is hardly possible, on this advanced technical analysis tool by TradingView you can see the real-time aggregated STORJ buy-and-sell rating for selected timeframe. The summary for STORJ/USD is based on the most popular technical indicators — Moving Averages, Oscillators and Pivots.
Below we have collected the most reliable price projections for Storj Token (STORJ) from popular forecast platforms.
According to WalletInvestor, Storj Token price will grow from $0.9512 to $1.855 in one year. That makes STORJ an awesome investment. The long-term earning potential is 95.02%. Predicted price for the end of 2026 is $5.500.
Answering the question about if Storj is a good investment, TradingBeasts say a resounding yes. In the 2021 perspective, this coin price is predicted to reach $1.2949003 with a reduction to $1.0547590 by the end of 2022.
In DigitalCoin analysis, the price of Storj Token cryptocurrency will rise in the next 5 years starting from $0.953468 as of today’s price to $3.5079408. It will go up to $1.5943968 by 2022 and continue its growth in 2023–2024. Based on this forecast, Storj Token is a profitable long-term investment.
As it can be clear from the analysis cited above, Storj Token (STORJ) projections are rather contradictory. There is no universal consensus either about positive or negative future STORJ price movements. Indeed, the future possible growth depends on various factors: announcements, new technological solutions of the Storj Token projects, the crypto environment in general, legal position, and so on. We kindly remind you that before investing in any cryptocurrency, it is essential to do your own research (DYOR).
Disclaimer: This article should not be considered as offering trading recommendations. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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