STORJ - 1267% profit in 2024, buy now

STORJ looks incredible. We can see that the price broke out of the falling wedge - bullish reversal pattern on the weekly chart. Always look at the volume indicator to confirm the validity of the breakout. If we take a look at the volume indicator, we can see that the bullish volume is overwhelming, which is very positive! What's more important is the Elliott wave analysis. My analysis suggests that we started this uptrend with a strong impulse wave of 12345. That's the dream of every Elliott Wave trader. What we want to do is buy the correction of this impulse wave. Wave (2) should be complete, so it's good to buy this coin now. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.

What Is Storj?

Storj, pronounced as “storage,” is an open-source cloud storage platform. Basically, it uses a decentralized network of nodes to host user data. The platform also secures hosted data using advanced encryption.

In a white paper published in December,2014, Storj was first introduced to the world as a concept. It was to be a decentralized peer-to-peer encrypted cloud storage platform.

Two years later, an updated white paper was published. Here, a decentralized network — connecting users who need cloud storage space with those who have hard drive space to sell — was described. The platform was launched in late 2018.

People with hard drive space and good internet connectivity can participate in the network. They become a unit in the network, called a node. Space providers are rewarded by Storj tokens.

What Makes Storj Unique?

As a decentralized cloud storage network, Storj is unique in more ways than one. For one, unlike traditional cloud storage solutions that store data in huge data centers, Storj runs on a network of thousands of independent computers.

Anyone with a few extra terabytes of space can become a node on the platform by installing Tardigrade. All that is required is a strong and consistent internet connection.

The efficiency of the network means that hosts pay far less for the storage of their data than when employing traditional cloud storage services.

Comment:

STORJ looks good, add to the position.

Comment:

Local parallel channel on the daily chart, good to buy STORJ now.