STORJ rose 60.3% over the past 24 hours and was trading at $0.04588, according to HTX market data cited by BlockBeats on Sept. 11. The move came even as major exchanges have removed or are preparing to remove the token from trading. Binance had already delisted STORJ on Sept. 3, while Upbit, the largest crypto exchange in South Korea, is scheduled to delist it on Sept. 14.
The token is tied to Storj, a decentralized cloud storage network founded in 2014. On July 27, Storj Labs, the project’s parent company, said it had voluntarily filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The company said the process is intended to address historical debt while allowing operations to continue. It also said the reorganized company is planned to be owned jointly by management, the community, STORJ token holders, and investors.
STORJ climbed 60.3% over the past 24 hours and was last trading at $0.04588, according to HTX market data cited by BlockBeats on Sept. 11.
The price move came as major exchanges have already removed, or are preparing to remove, the token. Binance delisted STORJ on Sept. 3. Upbit, South Korea’s largest crypto exchange, is set to delist STORJ on Sept. 14.
Earlier, on July 27, Storj Labs, the parent company of decentralized cloud storage project Storj, said it had voluntarily filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The company said the filing was aimed at resolving historical debt while continuing operations.
Storj Labs also said the reorganized company is planned to be jointly owned by management, the community, STORJ token holders, and investors.
Storj, founded in 2014, operates as a decentralized storage network. Users can share unused hard drive space to provide cloud storage services for customers globally, with the STORJ token used for incentives and payments.
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