Storj
About Storj
The price of Storj (STORJ) is $0.37487377 today, as of Sep 16 08:24 p.m., with a 24-hour trading volume of $9.20M. Over the last 24 hours, the price has increased by 1.66%. Storj currently has a circulating supply of 143.79M and a market cap of $53.90M.
Storj (STORJ) is the native cryptocurrency of Storj, a decentralized cloud storage (DCS) platform that uses blockchain technology to provide decentralized and encrypted cloud storage.
Operating on the Ethereum blockchain, Storj is an alternative to centralized cloud storage platforms such as Amazon Web Services or Google Cloud. Storj allows individuals to make their hard drive space available for rent, and users of the platform can use other peoples’ hard drive space to store files.
The Storj Network uses the STORJ token, released in 2017, to power its network. Prior to the release of the token, a legacy token, SJCX existed with a supply of 500 million. In 2017, the legacy SJCX token was discontinued and the project migrated from the Bitcoin-based Counterparty platform to the Ethereum blockchain. Until January 2020, legacy SJCX token holders were able to convert their tokens into the new STORJ token.
STORJ is an ERC-20 token, a type of token used for smart contracts on the Ethereum blockchain. Storj’s tokens are used to incentivize those with spare computer storage to store and protect their enterprise users’ files. A total supply of 500 million STORJ tokens were introduced, but the team subsequently burned, or removed, 75 million tokens, bringing the new supply of tokens outstanding to just shy of 425 million.
In March 2021, STORJ hit its all-time high of $3.91 but dropped over the subsequent months. In June 2021, STORJ had fallen to $0.61 but quickly rebounded, fluctuating between $1 and $2.
The token is supported on several centralized and decentralized exchanges, including Binance, Coinbase, FTX, Huobi and Uniswap.