CoinMarketCap Report: The Storage Token Ecosystem Before Filecoin

Friday 16 October 2020, 10:42 PM AEST - 1 week ago

CoinMarketCap recently released a new ranking of storage tokens, right ahead of Filecoins long awaited launch.

Filecoin, a decentralized storage project that raised over $200 million in a 2017 ICO, launched on Oct. 15 at block 148,888 — and its price immediately shot up more than 250%. At the time of writing, Filecoin (FIL) is down a little more than 57% on the day, but the project is still being talked about as one with a potentially very real use case.

To accompany CoinMarketCaps storage token list and provide more information about decentralized storage in general, our data team compiled some insights into the storage sector over the past few quarters, before Filecoin went live.

Storage Project Performance in Q2 Made with CMC data

  • With the bullish market sentiment in Q2-Q3, as well as the mainnet launch of Filecoin, the prices of other storage-related projects have also experienced surges — overall, the equal-weighted index of storage-related projects showed a 201% increase during Q2 and a 218% increase during Q3.
  • The total traffic on these projects increased by 50% in Q3 compared to the traffic in Q2.
  • Before Filecoin launched its mainnet in mid-October, the transaction volume of its IOU is over $10mm+ daily.

The following is a brief list of the key storage projects listed on https://coinmarketcap.com/storage/.

Key Storage Projects on CoinMarketCap ScPrime SCP Decentralized cloud storage project focusing on SMB based on the Sia protocol. The SCP model aggregates millions of distributed nodes and presents this capacity as ultra-secure cloud storage to business customers. Erasure codes and end-to-end encryption provide extreme durability and ultimate security. +52.9% +696. ...

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