1. Project Introduction

Storj is an open source decentralized cloud storage network whose main goal is to provide censorship-resistant, secure, and cheap storage services, mainly for enterprise-level customers. The Storj network is characterized by the introduction of satellite roles, which connect users and storage nodes as coordinators in the network. Storj's technical architecture mainly revolves around data storage, data retrieval, and data repair. It also designs data auditing and reputation management for satellites and storage nodes. In terms of storage technology, Storj uses erasure codes to ensure file integrity and uses satellites to manage and track data location and data auditing. Storage services can be paid for using its tokens.

2. Funding Situation

According to Coinmarketcap, the total number of STORJ tokens is 425 million, and the circulation volume is approximately 371 million, accounting for 87.29% of the total. The remaining circulating tokens are mainly concentrated in the hands of the team.

Spot data

The top 10 holders account for 66.96% of the total tokens. Among them, Upbit holds 18.91% of the tokens, ranking first; team multi-signature and time-lock addresses hold 18.5% of the tokens; other exchanges hold 20.65% of the tokens; and large holders hold 8.80% of the tokens.

According to historical tracking, among the top 50 coin holding addresses, there are multiple newly created addresses that have continued to withdraw large amounts of coins from exchanges in the past 60 days, and the amount of tokens held accounts for 10.7% of the total.

Source: nansen, LD research

From the weekly K cycle, STORJ has broken through this year's price high and bottom range. The average price of the bottom intensive transaction is 0.5353 US dollars, and the chips above are evenly distributed.

STORJ's trading volume on Binance in the past 24 hours was $84 million, accounting for 32% of the circulating market value. Judging from the current Binance spot orders, the main orders are concentrated on the market, and the funds are evenly distributed above and below. The price of large orders below is concentrated at $0.6, and the short-term large order resistance above may be concentrated at $0.75. (Be wary of market selling and bottom order cancellation.)

Contract data

From the 1-day K-line data of STORJ, we can see that the active buying orders of STORJ began to increase from September 9, and the price rose accordingly. Since October 10, STORJ has been consolidating for 1 month without the main selling volume. We believe that the main force still exists during this period. The active buying volume of STORJ increased rapidly on November 9, and led to a rapid rise in prices to break through the long-term consolidation range. At the same time, with the increase in the long-short ratio of large accounts, the long-short ratio of all accounts decreased, and large and retail investors formed a counterparty.

Summary: As the overall market sentiment is positive, the market is in an overall upward trend. In the last wave of the market, STORJ main spot withdrawals from exchanges and contract positions completed a wave of upward movement. In the October consolidation period, there was no spot selling, and there was no increase in the main selling volume at the contract level, so the current upward movement may be completed by the same main fund. It should be noted that the team holds a large number of tokens and sells small amounts of tokens continuously.