Storj token price prediction. Storj Token Fundamental Analysis | Via SwapSpace | Capital | July 2021
STORJ is an Ethereum-based token that powers the Storj network and can be used as a commercially available decentralized cloud storage. Storj is one of the earlier blockchain projects. It was established in 2014. It was originally conceived as a coded and encrypted storage platform, and later transformed into a network model. It is now an open source project that provides private, secure, and highly available storage for personal or enterprise-level projects.
Storj allows anyone with additional disk space and bandwidth (there are some other requirements, but none of them are forbidden) to run a node, enabling them to share resources with users who need them. The objects put into storage by the user are encrypted and divided into 80 parts, which helps to maintain a high level of security. Note that to retrieve this information, users only need to access 29 of the 80 sections. This redundancy provides a quick and easy way to access the entire object, making the technology resistant to node failure. The entire network is protected by a proof-of-work consensus protocol. To make the user experience smoother when using Storj, it is integrated with some tools such as file connectors and dashboards.
STORJ tokens are used to incentivize nodes that provide resources and protect the network. It can also be used as a means of payment for commercial storage services.
During the initial token sale and for a period of time thereafter, the price of Storj soared to $2.5 during 2017-2018. When the project was launched at the end of 2018, the price stabilized in the range of approximately US$0.2 to US$0.3. It remained there until mid-2019, when it was even lower, sometimes falling below the $0.1 mark. In the summer of 2020, as the market’s upward trend gains momentum, Storj’s price also rises, again trading at around $0.3 or higher. The real price breakthrough occurred in early 2021, when the price jumped above US$0.8 for the first time in February, and then set a new all-time high on March 27, breaking the previous record. At that time, the market was nearing its peak coincided with the listing of the coin’s Coinbase, which brought Storj to the $3.91 mark. Later in the same year, the price of Storj began to fall, reaching about $0.50. In late June 2021, Storj’s price rose sharply, and the transaction price was as high as about US$0.9, but there are still some doubts whether this is a long-term trend reversal.
Although it is almost impossible to perform 100% accurate technical analysis of the Storj Token cryptocurrency, on this advanced technical analysis tool of TradingView, you can view the real-time summary of STORJ trading ratings within the selected time frame. The summary of STORJ/USD is based on the most popular technical indicators — moving averages, oscillators and pivots.
Below we have collected the most reliable price predictions for Storj Token (STORJ) from popular prediction platforms.
According to WalletInvestor, the price of Storj tokens will rise from US$0.9512 to US$1.855 within one year. This makes STORJ a great investment. The long-term profit potential is 95.02%. The forecast price at the end of 2026 is $5.500.
When answering the question about whether Storj is a good investment, TradingBeasts responded in the affirmative. From the perspective of 2021, the price of the token is expected to reach US$1.2949003 and drop to US$1.0547590 by the end of 2022.
In the DigitalCoin analysis, the price of Storj Token cryptocurrency will rise from today’s US$0.953468 to US$3.5079408 in the next 5 years. By 2022, it will rise to US$1.5943968 and continue to grow in 2023-2024. Based on this prediction, Storj Token is a profitable long-term investment.
From the analysis cited above, it is clear that the prediction of Storj Token (STORJ) is quite contradictory. There is no general consensus on the positive or negative trend of STORJ prices in the future. In fact, the possible future growth depends on various factors: announcements, new technical solutions for the Storj Token project, overall encryption environment, legal status, etc. We would like to remind you that you must conduct your own research (DYOR) before investing in any cryptocurrency.
Disclaimer: This article should not be considered as providing trading advice. The cryptocurrency market suffers from high volatility and occasional arbitrary fluctuations. Any investor should research multiple viewpoints and be familiar with all local regulations before investing.
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