Storj price surged more than 25% to lead top gaining altcoins. The token’s upside comes as a major conference bringing together scientists from around the world kicks off at the University of Liverpool.

STORJ was trading around $0.48 at the time of writing, with its daily volume up more than 1,700% to $196 million. The skyrocketing STORJ was outpacing notable 24-hour performers, including Bitcoin Cash, Helium and JasmyCoin.

What is Storj?

Storj, launched in 2018, is a blockchain startup that offers a decentralised cloud storage platform.

The network rents storage space from organisations and individuals across the globe. It allocates this to customers seeking access to fast, low-cost, secure graphics processing units (GPUs). In this ecosystem, space providers, or nodes, get the native token STORJ as a reward.

Storj gains as Lattice 2024 conference begins

After recently acquiring Valdi, a GPU provider based in Pasadena, California, Storj is looking to extend its visibility at the Lattice 2024 conference.

The annual conference is an international symposium on the Lattice Field Theory that attracts scientists from all over the world.

Storj recently noted that the platform was ready for Lattice 2024. The latest edition is the 41st of the conference and takes place at the University of Liverpool from July 28 to August 3, 2024.

Originally. Lattice brought together particle physicists. However, the conference has grown to encompass new topics such as algorithms, machine architecture, and quantum computing.

Participants at this year’s event expect innovation, new ideas on quantum field theories and discoveries.

Storj is one of the sponsors for Lattice 2024, a factor that may have contributed to the price of STORJ rising sharply. Notably, this comes as CoinGecko data shows that the DePIN market is trending. Per the platform, Storj ranks above Helium and JasmyCoin in 24-hour and weekly gains.

STORJ price prediction

Storj’s price surge from lows of $0.28 in early July to above $0.49 sees it trade more than 20% higher since the one-month low. The 24-hour range at the time of writing was $0.38 to $0.49.

Gains for Storj come after the crypto confirmed a bull pattern, according to one crypto analyst. Javon Marks believes there’s potential for the breakout to take STORJ to above $1. The analyst suggests the short term bull target could be above $2.9.

Notably, Storj reached its all-time high of $3.81 in March 2021 and the altcoin last traded above $1 in December 2023. Currently, its year-to-date peak is $0.90 reached in March.

The post STORJ price spikes 25% as Lattice 2024 conference kicks off appeared first on Invezz