Storj Price Overview
The current Storj price is EUR. The price has changed by EUR in the past 24 hours on trading volume of EUR. The market rank of Storj is based on a market capitalization of EUR. Storj has a circulating supply of . The highest recorded Storj price is EUR. And the lowest recorded STORJ price is EUR.
Storj is an open-source peer-to-peer encrypted platform for decentralized cloud storage. First described in a whitepaper published in December 2014, the platform was launched by co-founders Shaun Wilkinson and John Quinn in 2018. Anyone with a good internet connection can get paid for their spare disk space by hosting a node. Unlike most existing cloud storage providers, Storj doesn’t use centralized data centers. Instead, files are encrypted, split into pieces, and distributed across the global network of nodes, protecting data from malicious attacks.
STORJ is the native ERC-20 token of the network and is used to pay nodes for storing data. Since hitting the market in 2017, the price of STORJ has seen some significant changes and if you want to know why then you’re in the right place. We’ve compiled everything you need in order to get a better understanding of STORJ price – as well as the factors which influence it.
Storj Price History
STORJ began trading in July 2017 at $0.50. After a brief spike to $0.88, STORJ mostly traded below $0.50 until the second week of August when a sharp rise took prices up to around $2. By September, STORJ had fallen back to $0.50 and was mostly range-bound between $0.30 and $0.70 for the next couple of months. Prices began to rally in November and STORJ ended the year with a value of $2.44 – an almost 390% increase since launch.
The positive momentum continued into January 2018, culminating in a peak of $3.36. STORJ quickly fell and prices dipped below $0.60 a month later. Apart from a minor surge to $1.36 in May, STORJ spent most of 2018 in decline and was worth just $0.14 by the end of the year, which was a more than 95% drop from its peak value in January.
STORJ remained fairly stationary for the first month and a half of 2019, before a sharp upsurge in February took prices over $0.40. It mostly consolidated between $0.20 and $0.40 for the next five months until prices began to fall again in July. STORJ had dropped to $0.09 by the end of the year.
2020 opened optimistically, with STORJ climbing to $0.27 by the middle of February. However, prices then bottomed out at $0.04 in March following a crash of almost 47% in a single day. There was then a period of steady growth which became sharper in August when STORJ reached a peak of $0.80. After a more than 60% pullback STORJ retested $0.65 in October, before a second pullback and further consolidation left STORJ with a value of $0.29 at the end of the year.
The best year yet for STORJ was 2021. Steady gains in the first quarter took prices over $1 by the middle of March, before growth became exponential towards the end of the month, with STORJ reaching its all-time high of $3.88 on 28 March. At that point, Storj had a market cap of over $825 million. Prices then fell for the next month, hitting a low of $1.23 in April, but STORJ had regained $2 by the end of the month.
Analyzing Storj Price History
STORJ’s price history can be analyzed with many of the same techniques as stock market analysis. Technical analysis (TA) involves using various indicators while studying price charts in order to make sense of previous price movements. With STORJ, as with many other tradable assets, large price swings are often accompanied by spikes in trading volume, as a large number of users buy or sell their coins on exchanges.
Fundamental analysis (FA), on the other hand, looks at the finances and activities of a company, as well as the state of the wider market and economy. Storj raised $30 million in its initial coin offering (ICO) and its founders brought together experience from the industries of software development and investment banking, which could be good signs for the project’s fundamentals.
Broader market trends have also played a role in STORJ’s price history. Its surges at the end of 2017 and start of 2021 weren’t unique – the entire crypto market pumped around these times. Bitcoin was in the midst of major bull runs then, and with such strong market dominance, any significant price movement for Bitcoin often impacts other cryptocurrencies.
STORJ’s huge single-day drop in March 2020 came as economies and borders were closing down around the world in response to the COVID-19 pandemic. The effect of this was felt by the whole cryptocurrency sector and the entire stock market, which experienced the biggest single-day crash since 1987.
The overall price trend of STORJ tends to follow what’s known as a boom-and-bust cycle. This is a pattern in which a period of growing excitement leads to a surge in price before doubt and disillusionment set in and result in a crash.
Factors Influencing The Price of Storj (STORJ)
A variety of different things can affect the price of STORJ, including project news and developments, the flow of assets on exchanges, public sentiment, and emerging trends in the wider cryptocurrency and global economies.
An initial supply of about 500 million STORJ were minted with 75 million being burned after the token sale. This leaves STORJ with a fixed supply of about 425 million, which makes STROJ a scarce asset and means that any increase in demand for the token will push up its price.
A major source of demand for STORJ is from users who want to store files on the cloud. STORJ is the preferred method of paying nodes, and the more nodes join the network, the more space there will be for file storage – meaning the potential for more customers wanting to buy and spend STORJ.
Future integrations and protocol upgrades could also boost the price of STORJ. Storj isn’t, however, the only blockchain project working on a decentralized cloud storage solution. Filecoin and Siacoin have created similar platforms, and the developments and successes of those projects relative to Storj could have an impact on STORJ’s value.
Live Storj Value and Market Cap
The live price of STORJ varies from moment to moment as it’s dictated by the balance of buyers and sellers on exchanges, which is in constant flux.
Given STORJ’s volatility, its live price can change by a large amount in a very short space of time. The market cap of Storj is equal to the price of STORJ multiplied by the number of STORJ in circulation.
Storj Price FAQ
What Is the Highest Price of Storj in EUR?
Storj price history shows that STORJ has recorded a peak value of EUR.
What Is the Lowest Price of Storj in EUR?
Kriptomat data confirms that EUR is the lowest recorded Storj value.
How Can I Buy Storj?
There’s no need to consult an expert to tell you how to buy Storj. It’s fast and easy to buy STORJ at Kriptomat. Storj is available for immediate purchase at the current STORJ price quote of EUR. Current prices are always displayed in the STORJ chart.
What Is the Current Price of Storj in EUR?
Storj is available for immediate purchase at Kriptomat. The current price is EUR.
How is the price of STORJ calculated?
STORJ’s price at any given time is decided by the balance of supply and demand on exchanges. When more people are buying STORJ than selling it, the price goes up, and when more are selling than buying, the price goes down.
Why is the price of STORJ different on different cryptocurrency exchanges?
STORJ’s price is based purely on trading as there is no standard global STORJ price, so no one knows what it is “supposed” to cost. The trading volume and liquidity are different for each exchange and those differences are what affect the price.
What will STORJ be worth in the future?
It’s impossible to make price predictions with any kind of absolute certainty, as a whole host of different factors could play a role in determining the future value of STORJ. As many users buy STORJ to pay for storage, future network growth and adoption would likely drive up the token’s price.
Throughout STORJ’s history its price has changed significantly, trading at lows of $0.04 and highs of $3.88. Its journey hasn’t been smooth though, as STORJ’s volatility has led to plenty of surges and crashes along the way.
Many different factors have played a role in determining the price of STORJ, including its capped supply, demand from storage users, and trends in the rest of the crypto market and wider economy. Its current valuation is derived from the balance of supply and demand in the markets and constantly changes.
If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of Storj and cryptocurrencies!