It does not matter what you see the law sees. We will discover how the law sees it only when probed in court. Apparently, quite soon.
Those two forms of payments are materially equal and crypto latinorum no longer works as an obfuscation.
Incidentally, a corporate raid is primarily a financial manoeouver and not illegal or defamatory in any sense. etc., etc.
Back to the technical issue of interest and topic of this thread… Regarding the de-listings, I suspect they are not over yet, and any talk of available liquidity via Dex avenues are a route to a dead end cul-desac, in my opinion. Unless this company has the money for some massive controlled float to loan out to what may soon be the last standing real market maker, big problems are inevitable.
1/1.655 STORJ’s (=USD $0.02),
Julio
Disclaimer: The above opinions are prone to hallucinations even greater than even Chat GPT beta 0.01
The company is not legally allowed to interfere with the market
The issue is not whether “a DEX still exists”. The issue is much simpler: who is buying?
SNOs are structural sellers because they are paid in STORJ while their real-world costs are denominated in fiat. If, at the same time, market makers reduce exposure, exchanges delist the asset and liquidity becomes thinner, the result is inevitable: wider spreads, higher slippage and much higher volatility.
Under these conditions, it is perfectly rational for an exchange to delist. The delisting is not creating the problem; the deterioration in liquidity and risk profile is what makes delisting a predictable consequence.
Saying “DEXs still exist” does not answer the question. Having a liquidity pool does not mean having enough market depth to absorb continuous sell pressure.
And buying STORJ only to pay SNOs solves nothing if those same tokens are immediately sold again. That creates volume, not net demand.
So the only relevant question remains:
who structurally absorbs the sell pressure?
If there is no credible answer, continuing to defend the current model simply means defending the indefensible.
And I sincerely hope all the “workers” who received bonuses in STORJ have already converted them into real money. It would be rather ironic to ask others to believe in the token’s value today after using it yesterday as a form of compensation.
You again ignore the fact, that token purchased not only to pay SNO but also pay for the service.
Traders will speculate as well. So this question doesn’t make sense to me - the token is purchased by the same parties as before.
What else answer do you expect?
The only answer I can think of that’s not just the small volume of people actually using it to pay for storage are trading bots.
Disclaimer: I know nothing about crypto…
I just looked on Coin Market Cap. Scrolling down, there are 3 exchanges doing 96% of the trading volume (krw is South Korean won):
Bithumb has storj/krw at 9.6 cents, is 58% of volume
Upbit has storj/krw at 5.7 cents, is 28% of volume
LBank has storj/usdt at 3 cents, is 10% of volume
Bithumb and Upbit are delisting STORJ on Sep 14th but allowing withdrawals until Oct 14th.
The STORJ market cap (total value of all 425M tokens) is $12.75M, and $13M was traded in the last 24 hours, up 38% (from sometime) according to CMC. It further says that $13.6M was traded on CEX (centralized exchanges) and $1289 was traded on DEX (decentralized exchanges). I know, the numbers don’t add up quite right, but that’s what it says…
Google AI says:
When major local platforms announce they are terminating trading support, it causes immediate market structural collapse:
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Liquidity Fragmentation: Market-making firms immediately pull their funds out of the order books. The ±2% depth numbers drop close to zero.
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Broken Arbitrage: Normally, if a token’s price differs between LBank and Upbit, traders buy on the cheaper exchange and sell on the more expensive one to flatten the price gap. Because South Korean capital controls prevent easy outward movement, and because Upbit/Bithumb are shutting off the token’s trading rails entirely, arbitrage has completely broken down.
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Artificial Premiums or Discounts: The price on Upbit and Bithumb might temporarily detach completely from the global rate on platforms like LBank as panicked local retail investors attempt to liquidate their token holdings before the hard drop deadline.
It seems like a game of hot potato to me, but like I said, I don’t know anything about it. Since there is a decent price gap between these 3 exchanges, I’m guessing there are some people making money with high risk and others losing money trying to cash in their STORJ.
Yes. Segmented market with speculators driving prices of the volatile settlement instrument, that is an oxymoron in itself, was the problem from day way.
Evey storj transaction was and is leaking massive amount of value away from Storj and its users to “market participants”.
Now it’s just got much worse.
I also dont know nearly nothing about crypto.
What should we do from the next month to change the storj coins to BTC or fiat?
Thanks.
Edit: i am us g now Coinbase wallet. I know is not the ideal but for a pair of nodes i only want something easy.
Next payout you can still receive at coinbase. You won’t be able to place market order, but limit order will work. For the one after that you will need to look for alternatives. Kraken still did not announce anything, so it may work.
The problem is low trading volume and resulting high spread.
At this point just sit and wait — storj eventually figures out payments to suppliers. I would not worry much.
i lost so much money selling m storj :(. issue is the downward spiral.
High volatility is very bad for SNOs. Imagine the Storj team buys the token at a small peak, then sends it to you, and by the time you receive it, the price has dipped 20–30%. That would be a very bad situation.
to everyone: first You have to SWAP ASAP.
STORJ to something else like USDC, since its on ETH chain.
its really simple and CHEAP.
You don’t need any exchanges for that - only a wallet with SWAP option, like Rabby, metamask, etc.
it automatically finds a route for You and its relatively cheap like $0.40, $0.60 total.
Storj is listed on many many exchanges, its really a lot for a token, STORj is one of the MOST listed tokens still
But is it? One must watch like a hawk for a transaction that you have no ETA for, regardless of what time zone you live in, and then fiddle with wallets on cue, just because the settlement instrument is volatile. Storj wants use the token, I get it. Operator payments are $130k/month. It’s nothing. Sane company would pay operators wirh other stable means, until they stabilize the token, and then switch.
I don’t have anything against token and everything against volatile settlements.
On a related note, many exchanges offer API. I have a service running on my NAS that subscribes to notifications of storj deposit (websocket subscription) and sells immediately. This is the way to go.
ya im kinda hawkish on payout periods, checking few times a day, coz im fine with that precision, however i just learned rabby wallet has some alerts if on mobile app, for new arrivals! thats cool.