Over the past few weeks, you’ve likely noticed that STORJ tokens have been listed for trading on a number of new exchanges. The most recent listings were on Binance and Poloniex, two of the largest exchanges in the world. Our team has been working hard to ensure you, our token holders, can easily trade your tokens – whether you’re selling tokens you’ve earned as a Farmer on the Storj network or acquiring tokens to purchase services.
As we continue to find ways to expand the utility of the token, having a larger variety of places to trade STORJ is great for our community. We realize that everyone has platforms they prefer – whether it’s because of the functionality of the platform, the fees they charge (or don’t charge) or because of their geographic region. We will continue to do our best to accommodate all of our community and continue to get STORJ listed in as many exchanges as possible!
These listings help our decentralized cloud storage platform stand out as well. As exchanges evaluate tokens for listing, they scrutinize whether the tokens have true utility. For example, recent reports indicate only 10 percent of tokens are in use after their respective token sales. When these exchanges list STORJ, it helps validate the utility of our token.
We are seeing the amount of service payments using STORJ increase month-over-month. As we integrate with new companies like BLOCKv, Loomia and many others building on our platform, we expect that number to increase. Many of these companies are integrating token swaps with STORJ on the back-end using smart contracts, so when their customers pay for services with their proprietary tokens, the portion relating to their storage costs will be automatically converted to STORJ as it’s sent to us for payment.
We’ve recently added new payment functionality to the Storj platform to make it even easier to pay with STORJ! We currently accept payment in STORJ, BTC and traditional currency and will soon add payment in ETH as well.
Below is a detailed update on the new exchanges listing STORJ for trading:
Binance (www.binance.com) – As one of the largest exchanges in the world, Binance trades more than $130 million worth of cryptocurrency each day. This makes it one of the largest exchanges in the world, not to mention China, where Binance is headquartered. On its first day listing STORJ, Binance exchanged $1.6 million in STORJ, making it the second largest market that day. Today, they exchanged more than $2 million!
Poloniex (poloniex.com) – Prior to converting to our new ERC20 STORJ token, Poloniex…