Storage token storage (STORJ) rises every day, 43% rise on the 4th | CoinDesk JAPAN | Coin Desk Japan

Storj/STORJ, a decentralized file-sharing protocol, has surged over the past two days, with trading volumes increasing and its market capitalization nearly doubling.

Storge surged 43% on July 4 and hit a high of $0.58 on July 5, according to TradingView data. The market capitalization increased from $143 million (approximately ¥20 billion, converted at 140 yen to the dollar) on the 3rd to $223 million on the 5th.

After that, it fell slightly, to about $0.42 at the time of this writing. Bitcoin (BTC) has been mostly flat for the past two days and has fallen slightly on the 5th.

Storge’s rise seems to have little to do with it. However, upbit, South Korea’s largest cryptocurrency exchange, saw a significant increase in trading volume. According to web media WuBlockchain, Storge accounted for 57% of trading volume on Upbit.

Storge started in 2014 and lets you rent out unused storage on your computer in exchange for tokens. A so-called cloud storage platform, often described as an alternative to cloud services offered by Amazon and Google.

Storge CEO Ben Golub told CoinDesk in May that 75% of users have nothing to do with crypto. Users range from universities doing scientific research and AI research to people using it to store videos.

“The University of Edinburgh is a big customer of ours and preserves much of the work in physics research,” Golub said.

Storge’s competitor Filecoin (FIL) hasn’t shown a big rally, up 2% in a 24-hour period.

｜Translation: CoinDesk JAPAN
｜Editing: Takayuki Masuda
｜Image: Shutterstock
｜Original: Crypto Storage Token Storj Rallies 43% Overnight as Trading Volume Surges