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- StorX Network’s SRX has bucked the overall bearish trend as other storage tokens flounder.
- The latest rally has helped it overthrow Storj (STORJ) token in the global market cap rankings.
- Messari analysts tipped the DePIN category for a big year in 2026.
StorX Network has gotten some shine recently as it has posted a relatively strong performance even as the broader crypto market has been rocked by macro headwinds and internal inadequacies.
According to data from CoinMarketCap, the decentralized storage sector is currently having a hard time, and even the heavyweights have not been exempted. Giants like BitTorrent (BTT), Arweave (AR), and Walrus (WAL) reportedly suffered double-digit losses over the last week, dropping 13.65%, 23.31%, and 21.99%, respectively.
Despite the current bloodbath across the markets, the DePIN sector is expected to perform better this year than it did last year, when it raised nearly $1 billion in capital across a total of 91 rounds, fewer than the number it took to raise the almost $700 million it achieved in 2024.
Storx Network has defied general market downturns
Storx Network has recently displayed a steadiness that is seemingly creating a price floor that other storage tokens lack.
Amid general volatility, StorX Network (SRX) is trading at $0.06767, maintaining above the green line over the last 7 days. With a circulating supply of 725.44M SRX and a steady 24-hour trading volume of nearly $3 million, liquidity remains healthy despite the bearish macroeconomic environment.
The stability has propelled StorX to a market capitalization of nearly $49.1 million, putting it ahead of Storj (STORJ) token, which it is often compared to, with its $47.6 million market cap after an 11.39% weekly decline.
Storj has lost ground due to recurring internal issues
While there was never a “hard fork” in the sense of a sudden blockchain split (like Bitcoin vs. Bitcoin Cash), StorX launched in mid-2021 as a software fork based on the legacy code of Storj v2.
As such, the projects are often compared to each other. However, the older Storj has faced recurring issues due to the pressure on its token for node operator payouts, which triggers volatility risks.
Storj pays its nodes in Storj tokens instead of fiat or stablecoins, which exposes the operators to price swings. Hence, when the token value drops sharply, payouts are affected, and Storj risks facing higher effective costs when buying back tokens to distribute.
There are now fears that without price appreciation or a significant demand for its storage spaces, Storj could face a depletion of its token reserves for payouts by mid or late 2026.
Some node operators and users have criticized the current token model as counterproductive for attracting and retaining node operators and have suggested alternatives, such as stablecoins or traditional payment processors, to address crypto volatility and forex issues.
SRX taps retail liquidity for positive performance
Retail interest appears to be consolidating around SRX as the value play for the month because of its defiant performance, which creates a positive loop where good performance is rewarded with stronger returns.
The Storx Network’s robust node infrastructure acts as a key stabilizer. Unlike purely speculative assets, StorX is backed by a decentralized network of hosting nodes that earn SRX for storing encrypted data segments.
By incentivizing node operators to provide storage capacity, StorX has an ecosystem where participants are less likely to liquidate during short-term market dips.
The utility-driven demand appears to be mostly responsible for creating a price floor that other storage tokens have been unable to replicate. As such, while the market leaders bleed value, SRX has shown positive signs of stability with corresponding 7-day metrics that have helped it flip OG projects like Storj in the global market cap rankings.
On the institutional side, the DePIN category is also tipped for growth by Messari analysts.
Their 2025 report shows that a small but growing group of DePIN networks saw persistent onchain revenue growth even during times when the overall market was not doing so well. As far as Messari is concerned, this is proof that DePIN projects fare better in bear markets than regular alt projects and L1s.
As enterprise demand for decentralized cloud storage grows, networks that offer consistent uptime and sustainable node rewards, like StorX, are expected to continue to capture market share from older, more volatile protocols.
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