Storj, the cloud storage platform known for its decentralized network of nodes, has witnessed a remarkable upswing in its price, marking an impressive 140% surge over the past three months and an additional 21% spike in the last 24 hours.
According to Coinmarketcap data, Storj has achieved a new yearly high at $0.9619.
Recent Notable $STORJ Transaction Activities To Watch
Despite this positive momentum, recent transaction reports have sparked apprehension within the Storj community. Spotonchain, an analytics platform, disclosed notable activities on X, revealing that the Storj team deposited a substantial amount to Binance.
🚨 The @storj team deposited 1M $STORJ ($945K) to #Binance amid a 20% price surge just now.
Since Nov 9, 2023, the team address has deposited 17M $STORJ ($13.2M, avg price: $0.779) to #Binance, mostly ahead of a price drop!
👉 More details: https://t.co/ERo9Sp57GW https://t.co/ZNgYOfDczG pic.twitter.com/Tf7PRu0wso
— Spot On Chain (@spotonchain) December 15, 2023
The team reportedly added 1 million $STORJ, equivalent to $945,000, during a 20% surge in prices.
The data further discloses a consistent pattern of deposits by the Storj team into Binance since November 9, 2023. During this period, the team’s address has seen a total deposit of 17 million $STORJ, amounting to $13.2 million, with an average price of $0.779. Interestingly, these deposits often preceded a subsequent price drop.
Despite these concerns and transaction patterns, $STORJ is currently trading on the upside at $0.93, showcasing resilience in the face of market dynamics.
The Storj community remains vigilant, closely monitoring both the price movements and the actions of the Storj team to navigate the uncertainties surrounding the popular decentralized storage platform.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.
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