Storj parent company Storj Labs applies for Chapter 11 bankruptcy reorganization, and this news has sent the market situation for $STORJ into a sharp downward spiral.
At present, it appears that the bankruptcy has triggered a crisis of market confidence. Upbit has already paused deposits for this token, and the price of $STORJ has plunged by nearly 99%, with the current price at about $0.06149.
Although the project team says the network is currently running normally and plans to distribute equity to token holders, the broader industry downturn has further intensified selling pressure. This incident once again reminds us that even projects that have been operating for years may still face black swan events due to issues with their parent company. Crypto market risk is truly everywhere.
$STORJ #Storj #cryptocurrency
At present, it appears that the bankruptcy has triggered a crisis of market confidence. Upbit has already paused deposits for this token, and the price of $STORJ has plunged by nearly 99%, with the current price at about $0.06149.
Although the project team says the network is currently running normally and plans to distribute equity to token holders, the broader industry downturn has further intensified selling pressure. This incident once again reminds us that even projects that have been operating for years may still face black swan events due to issues with their parent company. Crypto market risk is truly everywhere.
$STORJ #Storj #cryptocurrency