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Storj, a decentralized cloud storage platform using blockchain technology to store and distribute data, has seen trading volume surge in recent days, indicating high interest in the trading community.
Storj’s trading volume reached $391 million on July 4, when the token’s price surged above 0.5. Volume jumped to more than $700 million on July 5, and came in at $215 million yesterday. It recorded volume of $91 million today with the price at 0.3495088 at 12:13 EST.
The Moving Average Convergence/Divergence (MACD) was above the signal line today, a short-term bullish signal. But its histogram bar suggests the coin’s price is likely to fluctuate or even decline.
Storj Technical Analysis
The Relative Strength Index (RSI) indicator is at 56.13, a neutral market position. It’s slightly horizontal, indicating a matching pressure of the bullish and bearish market, and if the bulls win, the RSI could strengthen its movement upward to the overbought zone (above 70). If, on the contrary, the RSI drops further to the oversold zone (below 30), it may prolong the coin’s bearish market.
Meanwhile, STORJ is trading above its 50-Day and 200-Day Simple Moving Average (SMA), a short and long-term bullish momentum.
However, considering the price weakness depicted on the inverted SMA indicator, the coin could enter its consolidation phase, stagnating around the $0.35 level for a longer period, or could even decline further below its 200-Day SMA.
Expert Insight into STORJ: What Do Crypto Traders Know
As news of the token’s surge in trading volume spread across exchange platforms, some experts posited that it is due to ongoing updates in its ecosystem.
Storj brings decentralization to the concept of cloud storage. It operates on an independent computer network, allowing any user with excess storage to become a node in their network and get rewarded with STORJ tokens.
$STORJ is the native token used to pay for storage and bandwidth on the Storj network. $STORJ is also used as a reward for nodes. Storj nodes are computers that store and provide access to data on the Storj network.
Besides being more secure and reliable than traditional cloud storage providers, Storj is also more cost-effective, as users can pay for only the storage and bandwidth they need. Often, the platform has been praised for its innovative cloud storage approach and potential to disrupt the traditional cloud storage market.
Storj Updates The Network
In recent months, Storj has made several updates to its platform, including Storj Next, a network version offering new features and improvements.
There are also the inclusion of perpetual storage, a feature that enables users to pay one-time fees only, then community satellites and terraform providers.
These updates are signs that the token intends to continue innovating and improving its platform with hopes of promising growth ahead.
Here’s what some experts predict for the token’s future price:
Changellyblog analysts predict the price will drop to a minimum of $0.449 at the end of 2023, average around $0.587, and possibly reach a peak of $0.724.
According to DigitalCoin, the currency’s value will increase by over 224% to reach $1.79 by 2025. In the long term, STORJ could hit a market price of $9.62 to exceed its all-time high (ATH).
TradingEducation analysts are highly speculative and predict the minimum price of the coin in 2030 to be $22.71, with an average price of around $30.75. The maximum may likely see the coin sell at $34.85 per token.
Ecoterra (ECOTERRA) As an Alternative
Ecoterra is a recycling app that helps you earn rewards while taking action for the environment. It promotes a sustainable ecosystem by using digital carbon credits to fight climate change and global warming.
With Ecoterra, you can earn rewards by recycling items like plastics, electronics, and textiles. The app’s focus on recycling makes it exciting and increases its sustainability.
According to a report, global carbon pricing made $84 billion in income in 2021, and the global carbon credit market was valued at $760.28 billion.
Experts predict that Ecoterra’s growth will be around 21.4% annually for the next five years. This means Ecoterra’s popularity and success will skyrocket in the coming months.
One of the standout features of Ecoterra is its token demand. By acquiring carbon credits, businesses can utilize the $ECOTERRA coin to compensate for their carbon emissions. Additionally, the currency has versatile applications that allow for creative usage.
The token’s effectiveness sets Ecoterra apart from earlier Play-to-Earn and Move-to-Earn cryptocurrencies. In those cases, users were primarily motivated to acquire cryptocurrency, leading to a downward trend due to the infinite supply. Ecoterra, however, has a solid foundation for sustainable long-term growth and development.
Also, Ecoterra has a reverse vending machine (RVM) system that is evenly distributed worldwide, allowing people to recycle their goods quickly. While recycling their items into these RVMs, users get rewarded with $ECOTERRA, which they can use for their benefit.
Overall, Ecoterra has a unique selling proposition to operate in the circular economy and uses blockchain technology to achieve its purpose.
Over $5.9 Million Raised in Ecoterrra Presale Stages
The Ecoterra presale started on March 29, 2023, without any minimum investment requirement, and the purchased ECOTERRA tokens have no vesting period.
The presale is in its last stage, with 1 $ECOTERRA priced at $0.01. The project has already raised over $5.9 million people, with more investors rushing to buy the token before the listing price kicks off.
Ecoterra initially planned to have a total of 9 presale stages with an end date on June 19, 2023. However, the presale is ongoing because the hard cap has yet to be reached. The current hard cap for Ecoterra is $6.7 million, and the soft cap is over $5.9 million already.
It is worth noting that only 50% of Ecoterra’s total coin supply of 2 billion coins was made available during the presale. However, more information regarding the other 50% will be announced in the next five days when the presale stage ends.
The projected growth of Ecoterra relies heavily on the active involvement and commitments of a large community, corporations, and individuals toward creating a sustainable environment. The Ecoterra project aims to gather support from environmentally friendly partners through tokenized carbon credits and incentives, contributing to a greener world.
Ecoterra seeks to establish a system that revolutionizes financing environmental conservation initiatives, redefining how people contribute to preserving the environment.
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