The price of Storj (STORJ), a popular cryptocurrency, has experienced a thrilling increase of almost 45% today.
Along with this surge, the Storj team made an interesting move by depositing a significant amount of 2.5 million STORJ tokens, which is worth around $1.22 million, into Binance, a top cryptocurrency exchange.
Data analytic firm Lookonchain shared an exciting update on Twitter about Storj’s price, highlighting a significant surge of 45%. The tweet also mentioned the Storj team’s related activities, indicating some noteworthy developments.
The price of $STORJ rises nearly 45% today.
Note that #Storj Team deposited 2.5M $STORJ ($1.22M) to #Binance after $STORJ rose, and currently holds 11.6M $STORJ ($5.7M).https://t.co/trIDjhXmBd pic.twitter.com/rTLKx6dSFS
— Lookonchain (@lookonchain) July 5, 2023
Lookonchain reports that the Storj team currently possesses around 11.6 million STORJ tokens in their wallet, which amounts to approximately $5.7 million. This accounts for roughly 2.8% of the total circulating supply of 409.6 million STORJ tokens.
Storj (STORJ) is currently priced at $0.5115, and it has seen a substantial 45.46% rise in the past 24 hours. In terms of market capitalization, Storj holds the 137th position, with a live market cap of approximately $209.4 million USD.
The recent surge in Storj’s price suggests a positive trend for the cryptocurrency. The large deposit made by the Storj team into Binance may indicate their belief in the token’s potential growth.
However, it’s important to remember that cryptocurrencies can be unpredictable, so investors should be careful and consider the risks involved before trading.
The rise in Storj’s price shows how quickly cryptocurrency prices can change. It also highlights the increasing popularity of alternative cryptocurrencies, like Storj, alongside Bitcoin and Ethereum. The cryptocurrency market is dynamic and can experience rapid price increases in a short period of time.
As cryptocurrencies keep developing quickly, it will be intriguing to observe Storj’s performance in the coming days. We will see if it maintains its upward trend or experiences a price correction.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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