A decentralized service for the decentralized Web, Storj has been steadily growing over the years. Now, in 2023, it is also on a tear but what could be the reason? In this article, the ChangeHero team reviews Storj news and updates, analyzes its fundamentals and technical indicators, and gives a Storj price prediction.
All Storj Price Predictions: 2023-2033
- The short-term Storj forecast is uniformly moderate, while the long-term predictions diverge significantly;
- A bearish outlook sees STORJ appreciate in value but very slowly. Its current standing price record is not expected to be reached even in a decade;
- On the other hand, bullish scenarios project parabolic growth for the Storj token over the years. By 2030, it will already have beaten its ATH and continue on to $10 and higher.
What are Storj Network and STORJ?
Storj is a decentralized cloud storage platform on which users store their files securely and privately. It uses blockchain technology and peer-to-peer networks to create a distributed network of storage nodes. STORJ is its native cryptocurrency that is used as an incentive paid out to nodes.
How does Storj work? Before files are uploaded to the Storj network, they are encrypted on the user’s device. This ensures only the user who has the encryption keys has access to their files while the nodes do not.
Once the files are encrypted, they are divided into smaller encrypted fragments called shards. These shards are then distributed across multiple storage nodes on the Storj network. These nodes are run by individuals who contribute a portion of their computer’s storage capacity to the network. These nodes store the encrypted shards of files and earn STORJ tokens as compensation for providing storage space.
When a user wants to access their files, the shards are retrieved from the storage nodes and reassembled on the user’s device. The user’s encryption keys are used to decrypt the files, ensuring the privacy and security of their data.
How is Storj better than centralized cloud storage providers? By distributing data across multiple storage nodes, Storj eliminates the reliance on a single central server. This, in turn, reduces the risk of data loss or data unavailability due to downtime.
Storj encrypts files on the user’s device before they are uploaded to the network. This ensures that only the user has access to their data, as the encryption keys are not stored on Storj servers. Additionally, the decentralized nature of the network adds an extra layer of security, as files are not stored in a central location that could be targeted by hackers.
Moreover, with Storj’s decentralized network, files are replicated and distributed across multiple storage nodes. This reduces the risk of data loss or unavailability, as there is no single point of failure. Even if some storage nodes go offline, the network can still retrieve and reassemble the files from the remaining nodes. Storj’s cost-effectiveness and eco-friendliness are nice bonuses as well.
Storj Coin Price Performance
STORJ Price in 2017–2020
The STORJ token first appeared on crypto exchanges in July 2017. The initial coin offering (ICO) for STORJ took place in May 2017. During the ICO, STORJ was sold at a price of ~$0.0093 USD per token.
The entrance of STORJ preceded the bull market peak for months, but it was a heated environment nonetheless. This considerably helped prop up the STORJ price to its first longstanding price record of $2.5 on January 8, 2018.
After that high for the following year, the price was on a steep decline almost consistently, with the exception of a few dead cat bounces. As a result, by the end of 2018 and the start of 2019, STORJ was trading for $0.14. 2019 and early 2020 are regarded as a period of “crypto winter” on the market, and the STORJ price did not rise above $0.33. Nevertheless, the team was steadily building and onboarding users.
The announcement of the Tardigrade update was made on March 19, 2020. This update marked the official launch of the service, built on the Storj network. The launch of Tardigrade was a significant milestone for the Storj project and likely played a role in driving up the price of STORJ tokens at that time. Especially considering that just a week prior, the whole crypto market plunged following the stock market at the onset of the COVID-19 pandemic.
Around August 2020 STORJ suddenly shot up, reaching $0.61, and so would later become one of the earliest gainers from the budding bull market of 2021.
STORJ Price in 2021–2023
2021 was a remarkable year for the crypto market and STORJ, as it was the height of another bull market. STORJ was mostly following Bitcoin in its price movements, albeit with a slight delay. However, at the time when Storj reached its all-time high, it actually outperformed BTC. The secret was simple: the so-called “Coinbase effect”. STORJ got listed on the largest regulated US exchange on March 25, 2021.
The current price record for STORJ is $3.91 on March 28, 2021. In November 2021 it did not quite reach the same mark, peaking at $2.96, but was very close.
And as we have seen above, sharp price surges are always followed by price corrections, and STORJ is no exception. This time around, the bear market and crypto winter have lasted since at least early 2022. STORJ seems to be repeating the same pattern as in the last cycle but this time around seems to be holding up a bit better.
Around mid-2023 the Storj token saw some bizarre price action: first, it dipped to $0.22, then pumped to $0.5, and in a month was back to $0.22. None of it seems to be connected to the price movements of Bitcoin or Ethereum.
The price of STORJ today at the time of writing is $0.3999 and the coin ranks 157th by market capitalization (according to CoinMarketCap).
What affects the Storj Token price?
Most obviously, the demand for the STORJ token in the market can impact its price. If there is high demand from users and investors seeking to utilize Storj’s decentralized storage platform, it can drive up the price of the token. Conversely, if the demand decreases, it could lead to a decrease in price.
The utility and adoption of the Storj network directly influence the demand for the STORJ token. As more users and businesses utilize the network for storage and data transfer, it can increase the demand for the token, potentially leading to a price increase. The Storj team has a few notable examples to show that there is indeed demand for their services. Cellular network provider Gabb stores over 300 TB of their clients’ data with Storj, primarily because of the security of their backups. Another example is Tribe Social using Storj to deliver high-quality video content while saving 90% of the costs.
As seen with the Tardigrade release, protocol updates can also move the STORJ price. Up next Storj users and node operators can expect to see more features like zkEra integration and object versioning.
And of course, the overall market conditions in the cryptocurrency industry can also impact the price of the STORJ token. Factors such as market sentiment, regulatory developments, and macroeconomic factors can influence the demand for cryptocurrencies as a whole. If the market experiences a bullish trend and investor confidence is high, it can lead to increased demand for STORJ and potentially drive up its price. On the other hand, bearish market sentiment or negative news can result in a decrease in demand and a decline in the token’s price.
Storj Price Analysis and Forecast by ChangeHero
Storj is on a roll! It crushes through resistance after resistance in the range between the latest peak and the bottom of the relative strength index (RSI). Can it reach $0.5 once again and continue to $0.76? On the one hand, the RSI is breaching the overbought area, showing that the rally will meet even more resistance going forward. On the other hand, the crossover between the RSI and its simple moving average is bullish, which means the run still has more potential.
Storj (STORJ) Price Prediction 2023
How much will Storj be worth in the near future? Let’s hear what analysts think.
YouTube channel Super Tradeish host speculates that at the moment, entry into STORJ is risky because it has just run against a long-term support near $0.29. He expects a pullback to $0.2221 but one that will not last too long. If you entered around that range, you would see 12% to 15% in gains rather soon.
On the other hand, Felix Küster, writing for Captain Altcoin, provides a bearish scenario for Storj (STORJ) in the short term. He believes this year the price will keep declining until the year’s end. The expected closing price for STORJ in 2023 is $0.2986.
Lastly, their fellow analyst Brian Koome at Cryptopolitan gives a measured Storj price prediction for the year. If the buying pressure carries STORJ over the resistance of $0.3869, the continuation of the rally can take it to $0.4–0.5.
STORJ Price Prediction 2024
BitScreener claims the average price of STORJ in 2024 will repeat historical patterns. The service forecasts a 92% gain for Storj. This makes the average STORJ price next year $0.7984.
According to Gov.Capital, 2024 looks mildly optimistic for STORJ holders. In exactly a year from now, STORJ is forecast to be changing hands for $0.9416.
An algorithmic forecast by CoinCodex has a cautiously optimistic Storj coin price prediction for the following year. In a year, its expected price is $0.7167, and at the start of 2024, it may cost $0.3505. Other STORJ predictions for 2024 include a minimum price of $ 0.341122 and a maximum price of Storj at $ 1.592612.
Storj Coin Price Prediction 2025, 2028
Expert opinions and estimates are a better fit for the near term. The further we try to look into the future, the more reliable it is to turn to algorithms that use historical analysis.
PricePrediction.net keeps expectations reasonable. According to their STORJ price prediction, in 2025 its average trading price range will grow to be between $0.68 and $0.83. In five years, STORJ will be trading for $2.16–2.46.
Another algorithm employed by Bitnation is relatively more bullish on the Storj market. They see the average price of STORJ rise to $1.39 in 2025 and further to $2.57 in 2028.
Digital Coin is not bearish on the Storj’s price forecast either but is as moderate as the other two. According to their estimations, on average, STORJ in 2025 will be worth $1.33, possibly rising to $1.43. Five years from now, it can cost anywhere from $1.87 to $2.16.
Storj Price Prediction 2030, 2033
For the Storj price forecast at the end of the decade and even ten years in advance, let’s refer to historical and algorithmic analysis.
CoinLore’s forecast goes the farthest in time, all the way up to 2050. It’s balanced out by the noticeable imprecision of their price ranges. For example, in 2030 they see STORJ being worth up to $5.06 but dipping to $0.2824 minimum. A similar picture is painted for 2033: the maximum price of STORJ will reach $11.34 or at the very least, rise to $3.69.
AMBCrypto is more definitively bullish on the price rise of STORJ, although they don’t see massive gains in the future. In 2030, its price range will slightly move up to $2.77–4.16. By 2033, a whole decade from now, they see Storj coin steadily trading above $7.47 and rising up to $11.21 max.
One of the most bullish long-term Storj price predictions out of all reviewed ones has to be the one by Coin Data Flow. Even though the next bull market is expected to storm the crypto market in 2025, by 2033, the Storj coin maximum value will overtake even those new highs. In 2030, they foresee STORJ for just $0.844664–2.90, but by 2033, STORJ will be able to reach as high as $10.02.
How to Buy Storj (STORJ)?
Swap any crypto for Storj coin (STORJ) on ChangeHero! Get STORJ at the best rates, in a few steps without obligatory KYC or registration.
- Choose the currencies on the home page, amounts, and the type of exchange. Provide your STORJ wallet address in the next step and check the details;
- Send the cryptocurrency for the swap in a single transaction. In a Fixed Rate transaction, you have 15 minutes before it expires;
- Sit back and relax. Now we are doing all the work: checking the incoming transaction and making the exchange as soon as it arrives;
- As soon as the exchange has been processed, your STORJ is on its way to your wallet. And so, the transaction is finished!
The support team is here to help you 24/7, and in any case, reach them in the chat on the website or through the email: [email protected].
The offering of Storj relies more on decentralization and Web3 usage than on the current value of its coin. Nevertheless, as it is a native token of the platform, its value can follow the growth of the Storj network.
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Frequently Asked Questions
How much will Storj cost in 2025?
Crypto experts’ forecasted price of STORJ ranges from $0.68 to $1.43 depending on the source and method.
What is the price prediction for Storj in 2030?
The Storj prices will fluctuate between $0.28–5.06 by 2030.
What is the price prediction for Storj in 2023?
The outlook on the short-term future of STORJ is split between neutral and bearish. According to the experts’ opinions, the forecast price can range from $0.22 to $0.50.
What is Storj’s all-time high price?
The current all-time high of Storj is $3.91, reached on March 28, 2021.
This article is not a piece of financial or investment advice. No price prediction is guaranteed to provide exact information on the future price.
When dealing with cryptocurrencies, remember that they are extremely volatile and thus, a high-risk investment. Always make sure to stay informed and be aware of those risks. Consider investing in cryptocurrencies only after careful consideration and analysis of your own research and at your own risk.