- Storeum (STO) gains over 11000% out of nowhere.
- What is this enigmatic project?
- Another day another pump and dump.
While the rest of the crypto market slowly bleeds away, one cryptocurrency – dubbed Storeum – has sprung out of nowhere, citing improbable gains. But what is this cryptocurrency, how did it get here, and is it a scam?
Recently, Coinmarketcap (CMC) has been a fairly dire, mournful reminder of the recent carnage witnessed within the cryptocurrency markets. Various charts, strewn with squiggly lines pointing downward, depicting prices that are more in keeping with the mid-bear market of 2018. Nevertheless, one outlier remains. Poking its unfamiliar little head above the rest is Storeum (STO).
A Steep Climb for Storeum
In the past week, the cryptocurrency has seen ungodly gains of approximately 11310%. Over the last 24 hours alone, STO cites a 333% hike.
According to a historical snapshot of CMC taken on 10 November, Storeum was little more than a spec of dust in the grand scheme of the crypto ecosystem. Ranking at #1430, conferring a price of $0.0026, and living a life of relative obscurity among its once-contemporary ‘sh*tcoins.’
Since that time, though, the winds of change and fortune seemingly blew in Storeum’s direction. Today it sits proudly – if somewhat bewilderingly – at position 29 on CMC, with a price tag of $2.16. Overtaking 1401 cryptocurrencies – and breaking into the top 30 – all in just over two weeks. Which begs the question, what on earth is going on?
What is Storeum?
According to its website, the project bills itself as the “world’s first decentralized, peer-to-peer marketplace.” A platform for businesses to build their online markets upon.
Other than that, there’s not too much information to go by. According to its questionable roadmap – which read more like a child’s wishlist – a litany of vague goals such as “further development” and “make…