The cryptocurrency storage, Storj for short, can reach high levels after the announcement of three new NFT partnerships Price increases in the amount of more than 80 Percent register.
We take a look at the basic concept of the Storj network and look at the concrete effects on the Storj chart in our STORJ Coin price analysis.
Current exchange rate of the cryptocurrency storage (STORJ)
Course history of the STORJ Coin since its launch in 2017
Price increases of over 300 percent: reasons for the STORJ Rally
Storj, pronounced as “storage” is a Open source cloud data storage platform.
The basic concept of Storj, which was already conceived in 2014, is based on a large number of decentralized nodes constructed.
What makes Storj unique in comparison to traditional cloud storage solutions is the distribution of the amount of data over a huge number of independent Computers all over the world.
Decentralized cloud storage provides developers with a secure, private, and cost-efficient alternative to centralized cloud storage.https://t.co/SqqVEBtKxD
– Storj (@storj) June 13, 2022
If you would like to get more detailed insights into the concept of STORJ, you can take a look at this article.
The only basic requirement to provide a node for the network yourself is a few terabytes of free available storage space in combination with an excellent Internet connection.
As a result of the decentralized network, the hosts benefit from reduced feesto be able to store your data reliably.
Companies use Storage for NFT storage
Huge amounts of data are causing more and more companies to alternative solutions for the secure storage of your data.
Especially companies that have already discovered the metaverse in the form of NFTs are increasingly turning to innovative solutions for data storage.
With the announcement that the companies Europa Labs, AMUZED and Ultimate Division will have their NFTs stored via the STORJ Coin network, the price of the Storj cryptocurrency has seen a sharp increase.
🎉🎉🎉 ANNOUNCEMENT: We’re excited to announce our new NFT customers! @amuzed_io @UltimateDivNFT @EuropaLabsInc @E11EVENCrypto
https://t.co/DpzF0ptLAz by @PRWeb– Storj (@storj) June 22, 2022
Ben Golub, CEO of Storj is very pleased about the new partnerships:
“Storj is ideal for storing digital assets such as NFTs because it offers Web3 performance, durability and enterprise-grade security. Minting platforms and brands can be confident that their customers will always have instant access to their NFTs. Other pinning services use centralized services or decentralized platforms with limited availability. Storj is bringing a new standard of speed and consistency to NFTs and is looking forward to working with these visionary NFT platforms.“
In this context, Storj makes it possible for its users by simply using a service provided by Storj Endpoint upload your content without the need for specific expertise.
An overview of the companies of the partnerships:
- Europa Labs is an emerging leader in Web3 physical redemption technology for NFT.
- AMUZED will revolutionize the music industry by offering fans a new way to experience their favorite artists through NFTs. As the first blockchain-based music manager game, AMUZED needed a fast and affordable storage option for users to collect their exclusive tokens.
- Ultimate Division is a football simulation and card collecting game that allows players to build their own teams with NFTs to compete with other players for Ultimate Division Tokens (TKDS). A smart contract allows you to emboss an NFT player card with randomly generated abilities, attributes and an image of a fictional player, and also preserves the game data.
Current chart analysis of the Storj Coin price (STORJ)
If you look at the chart of the STORJ Coin, you can quickly see that the recent price momentum sustainable trading volume he brought it with him.
An interim price increase of over 300 Percent within a time interval of just under 10 days, this volume was reflected in the price change of the cryptocurrency Storj.
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With the achievement of the additionally strengthened by the established trend line Resistance level just above the 1 US Dollar Mark if the STORJ Coin was initially rejected, the coin did not achieve a lasting breakthrough.
At a current price of $ 0.86, the STORJ Coin can expect support from increased buyer interest at the latest at $ 0.80.
In the 4-hour chart, we can additionally note that storage is affected by the price movements of the last few weeks above the 50- and 100-day average could establish.
Thus, they act as additional course support for STORJ.
STORJ Coin price on the 4-hour chart
In order to be able to register further price increases in the near future, the STORJ Coin price should not be the same within the next few days Support level the $0.65 break.
Forecast for the Storj Coin price (STORJ)
In the last section of our STORJ Coin price analysis, we want to create a coherent forecast for the further course of the cryptocurrencies Storj on the basis of various indicators.
Let’s start with the historical classification of Volume development within the upward movement of the last two weeks.
Chart analysis: basics, key figures and tips (2022)
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It can be clearly seen here that the appearance of such a high trading volume was last recorded at the end of November of the year 2021.
The positive signal of the increase in trading volume is supported by the statements made to us by the Relative Strength Indicator (RSI) delivers.
With a long-term value of just 45 he sets the STORJ course for the future further potential in prospect.
The most important price target for the near future is the 1 US Dollar Mark which also proves to be central for the further course of the STORJ course from a psychological perspective.
Price of the Storj cryptocurrency in the 1-week chart
At the current time, the STORJ price is quoted at the average of its normal volatility, which is determined by the indicator of Bollinger Bands (BB) can be measured.
With the potential Breaking the established downtrend line at about 1 US dollar, with constant market momentum, the $1.3 Brand as Price target be considered.
Taking into account the strength of the current price pulse, a short-term Consolidation to predict before the STORJ Coin price can move to new heights.
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