The price of STORJ (pronounced “storage”) has increased by a little over 30 percent in the past 24 hours. According to CoinMarketCap, STORJ, an ETH token, is the 88th largest coin by market capitalization.
The coin saw a significant increase due to the NFT update on Friday. STORJ reached an all-time high of $0.97, which is 43 percent higher than its 24-hour low.
As per data from CoinMarketCap, currently, the coin is selling at $0.9273, with an increase of notable 30.73 percent in the last 24 hours. Additionally, its market capitalization has increased from $245 million a day ago to $371 million today.
STORJ is a platform for shared cloud storage. Instead of sending files to massive data centers, users can store them in the host’s independent computers.
Strong support for STORJ
Two requirements must be met to qualify as a host: a solid and fast Internet connection and terabytes of storage space. Users can earn money by storing others’ files on their computers.
An announcement about major businesses embracing STORJ to store unique tickets, music, sports NFT assets, and gaming led to a sharp increase in the price of the token. Europa Labs, Amused and Ultimate divisions are the company’s latest NFT customers.
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Amuzed is a blockchain-based music gaming platform that allows users to listen to the music of their favorite artists using NFTs. Ultimate offers participants a soccer-themed Metaverse game in which they can earn Ultimate Division Tokens (TKDS), while Europa Labs seeks to improve customers’ computational capabilities on their preferred data platform.
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Green Candles Show Bullish Potential
Similarly, STORJ’s 24-hour trading volume is up more than 100 percent, reaching $408,455,560 – an increase of 127.94 percent.
Examining the STORJ/USDT daily chart, STORJ price has shown green candles since June 13.
The trend continued with a minor retracement on the daily chart until Friday, when the coin recorded its highest green candle of the move.
Over the past 10 days, the asset price is up 130 percent from the current level of $0.4005 to $0.80.
It remains to be seen whether the relatively unheard-of crypto will be able to sustain this growth in the future or will it be just another “one-hit” surprise.
Featured image from CyberBump, chart from TradingView.com