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The price of STORJ has increased by more than 100% in the past month, and the team has deposited a large amount of coins
Storj is a veteran decentralized storage application and was once the most actively developed Dapp on Ethereum.
A new version was launched in February this year, introducing token storage rewards
BlockBeats reported that on October 10, the Storj team was detected to transfer a total of 1.5 million STORJ (about $764,000) to Binance in two transactions. On the same day, the address marked as "Storj Team Wallet" received another 7 million STORJ (about $3.43 million) from the "Storj: MultiSig" address. It is worth noting that the Storj Team Wallet address has transferred 10.8 million STORJ (about $5.3 million) to Binance in the past month.
STORJ price has increased by more than 100% in the past month, and the team has deposited a large amount of coins
BlockBeats reported that on July 5, the decentralized cloud storage platform Storj project token STORJ rose to over $0.55, a 24-hour increase of 47.09%. After the token rose, the Storj team address transferred 2.5 million STORJ to Binance, worth about $1.22 million. A week later, Binance added STORJ assets to the full-position leverage, and the new full-position leverage trading pair STORJ/USDT.
On September 17, the Storj team was monitored to have deposited a total of 6.25 million STORJ (about $2.14 million) to Binance through GSR Markets in the past 7 days. On October 2, according to Ember's monitoring, the Storj team address transferred 2.075 million STORJ (about $1 million) to the Binance deposit address of GSR Markets. The Storj team address has transferred a total of 8.325 million STORJ (about $4 million) to GSR Market within a month.
On October 5, Storj announced a 226% year-over-year revenue growth and officially integrated with the video editing software application Adobe® Premiere® Pro.
On October 8, according to Lookonchain monitoring, 4 new wallets withdrew a total of 40.59 million STORJ (about 19.72 million US dollars, accounting for 9.55% of the total supply) from the trading platform in the past month. The price of STORJ has increased by more than 100% in the past month.
Upbit has been keeping up with STORJ’s rise. BlockBeats reported that on July 5, when STORJ saw a sharp rise, with a 24-hour increase of more than 47%, the 24-hour trading volume of STORJ Korean won trading pairs on Upbit reached $380 million, ranking first. During the same period, the trading volume of Bitcoin Korean won trading pairs was $79.29 million.
On October 9, according to Scopescan data, Upbit is still accumulating more tokens after STORJ prices continued to rise over the past month. Upbit currently holds more than 77 million STORJ (about 40 million US dollars), making it the largest coin holder.
Storj is a veteran decentralized storage application and was once the most actively developed Dapp on Ethereum.
Founded in 2014 and officially launched in 2018, Stroj is a decentralized peer-to-peer encrypted cloud storage platform. BlockBeats reported that in 2019, Storj was selected as the most actively developed Dapp on Ethereum ERC-20.
Related reading: "DApp empowered by distributed storage: How far are we from information interconnection?"
“The decentralized storage service provided by Stroj, in simple terms, is that users upload the files they need to store to the network, and the files are stored in computers around the world that are willing to contribute storage space (storage nodes). When users need to use files, they retrieve the location of the files from the network and then download them to their local computers.
Unlike other decentralized storage networks, the Storj network not only has users and storage nodes, but also adds satellites as a third role, forming an independent yet interdependent relationship between the three.
Storj is a decentralized storage service that focuses on SLAs-level services. Compared with Filecoin's decentralization and Arweave's Smartweave smart contract system, Storj does not use blockchain technology and has compromises on centralization, but this also makes it ahead of other similar projects in commercial implementation. "
In the past two years, Storj has continued to improve and has made frequent efforts in token payments.
In February 2021, Storj announced the integration of zkSync as its expansion solution, which allows node operators to receive payments at lower fees. Storj said that the advantages of using zkSync include better scalability, significantly reduced network fees, and gas fees paid directly in STORJ tokens. In March, Coinbase Pro announced the launch of STORJ tokens on its official Twitter account, and users can trade and deposit and withdraw.
In December 2022, Storj announced support for Ethereum's Layer 2 expansion solution zkSync 2.0 upgrade and EIP-4844. This upgrade enables storage nodes to receive and pay with minimal gas fees, significantly reducing Layer 2 fees and making decentralized cloud storage more economical and efficient.
A new version was launched in February this year, introducing token storage rewards
BlockBeats reported that on February 25, Storj officially announced that it had launched a new version, Storj Next, with added features including staking and permanent storage. The new version aims to monetize underutilized storage space.
According to BlockBeats, on March 1, Storj cooperated with Web3 infrastructure provider Ankr to launch the node deployment infrastructure Chainsnap. Chainsnap integrates Ankr's blockchain data snapshots with Storj's decentralized storage network, reducing the time required for node deployment and supporting blockchains including Ethereum, Polygon, and BNB Chain.
