For the first week of July, crypto storage tokens outperformed high cap tokens such as bitcoin and ether with tokens such as Filecoin's FIL and Storj's STORJ On Tuesday,The Storj protocol's native token jumped 43%. It has lately gained 15% in the last seven days % although it has subsequently receded slightly. Filecoin’s FIL, a competitor of Storj is a decentralised technology that allows individuals to rent out excess computer storage with a market cap of about $2 billion compared to Storj's $145 million, has also gained 12% over the last seven days Storj is one of a few competing crypto-backed cloud storage services, and it is frequently referred to as a competitor to cloud storage platforms such as those provided by Amazon and Google. Bitcoin, the world's most valuable cryptocurrency, fell 0.7% during the same time period. Ether was impacted the worst, dropping 3.5%. Bitcoin has been trading above $30,000 for a few weeks now, but has yet to break the $32,000 mark. Traders have blamed the current market uncertainty for the price stagnation. Markets are weighing conflicting economic data and ongoing central bank talks about how to reduce stubbornly high inflation without plunging the country into a deep recession. Craig Erlham, senior market analyst at OANDA commented that "The ETF filings provide more reason for optimism, but there's no guarantee they'll result in a positive outcome, even if the odds are improved by the support of those involved." "It could also be a lengthy process, which could explain the stall we've seen in recent weeks," Solana's SOL gained 12% this week and gained 8% on Friday alone. The reason for the increase is unknown, but some analysts believe the token will continue to rise. According to Sean Farrell, head of digital asset research at data firm FundStrat, "it's possible that conditions became super oversold in the aftermath of the Robinhood forced selling and now we are regressing back to prior support levels." The Recent Market Index, a gauge of crypto market performance, has fallen 1.3% in the last seven days. The Computing Sector of the Indices produced the only weekly increases. Culture & Entertainment tokens fell 5%, while Smart-Contract Platform tokens fell 2.2%.

For the first week of July, crypto storage tokens outperformed high cap tokens such as bitcoin and ether with tokens such as Filecoin’s FIL and Storj’s STORJ

On Tuesday,The Storj protocol’s native token jumped 43%. It has lately gained 15% in the last seven days % although it has subsequently receded slightly. Filecoin’s FIL, a competitor of Storj is a decentralised technology that allows individuals to rent out excess computer storage with a market cap of about $2 billion compared to Storj’s $145 million, has also gained 12% over the last seven days

Storj is one of a few competing crypto-backed cloud storage services, and it is frequently referred to as a competitor to cloud storage platforms such as those provided by Amazon and Google.

Bitcoin, the world’s most valuable cryptocurrency, fell 0.7% during the same time period. Ether was impacted the worst, dropping 3.5%. Bitcoin has been trading above $30,000 for a few weeks now, but has yet to break the $32,000 mark.

Traders have blamed the current market uncertainty for the price stagnation. Markets are weighing conflicting economic data and ongoing central bank talks about how to reduce stubbornly high inflation without plunging the country into a deep recession.

Craig Erlham, senior market analyst at OANDA commented that “The ETF filings provide more reason for optimism, but there’s no guarantee they’ll result in a positive outcome, even if the odds are improved by the support of those involved.” “It could also be a lengthy process, which could explain the stall we’ve seen in recent weeks,” Solana’s SOL gained 12% this week and gained 8% on Friday alone. The reason for the increase is unknown, but some analysts believe the token will continue to rise.

According to Sean Farrell, head of digital asset research at data firm FundStrat, “it’s possible that conditions became super oversold in the aftermath of the Robinhood forced selling and now we are regressing back to prior support levels.”

The Recent Market Index, a gauge of crypto market performance, has fallen 1.3% in the last seven days. The Computing Sector of the Indices produced the only weekly increases. Culture & Entertainment tokens fell 5%, while Smart-Contract Platform tokens fell 2.2%.