In-depth analysis of the storage sector's defied market trend and surged.
FIL ⬆ ≈60%｜AR ⬆ ≈57%｜STORJ ⬆ ≈20% (as of 2025-11-07 01:47 UTC)
TL;DR
In early November, amid a market correction, the decentralized storage sector performed exceptionally well:
- FIL led the gains by approximately 60%, with net buying by whale and expectations of DePIN Day igniting the rally.
- AR follows closely behind, with Irys' programmable storage narrative and cross-chain integration increasing demand.
- STORJ received a small amount of funding following its acquisition in October.
On-chain activity has rebounded in tandem, and leveraged long positions in futures have surged, but funding rates have turned negative, posing a short-term risk of pullback. In the medium term, if the AI/DePin theme continues to gain momentum, the sector is expected to maintain relative strength.
I. Market Performance Overview
| Tokens | Price (USD) | 24-hour increase | 7-day price increase | 24-hour quantity (USD) | Trigger point |
|---|---|---|---|---|---|
| FIL | 2.08 | 52.6% | 42.0% | 1.04 B | Whale accumulation, DePIN Day |
| AR | 5.88 | 40.9% | 65.0% | 0.29 B | Irys Programmable Memory |
| STORJ | 0.188 | 28.2% | 16.9% | 0.075 B | Merger and acquisition completed |
Data source: CoinMarketCap 11-07 UTC snapshot.
II. Decomposition of Catalytic Factors
DePIN theme gains traction : AI’s need for verifiable data and AWS/Azure outages boost attention to decentralized storage.
Project-Driven Growth • FIL: Whale net bought 9.5 million FIL in a week; the official announcement of DePIN Day's Latin American debut on November 18th, with market expectations for enterprise-level collaborations. CoinMarketCap
• AR: Following Arweave Day Asia, Irys (formerly Bundlr) completed a feature upgrade, supporting EVM-compatible virtual machines and multi-chain data execution. (CoinMarketCap)
• STORJ: Acquired by Inveniam on October 22nd, it explicitly retains its S3-compatible interface and is entering the AI data pipeline. (99bitcoins)Sentiment-wise : Binance Square's statistical storage sector became one of the few sectors to buck the trend and rise, with focused investment leading to FOMO ( Fear of Missing Out) .
III. On-chain data comparison (30-day rolling)
| index | FIL | AR | STORJ |
|---|---|---|---|
| Storage utilization | 32% stable | Weave 0.38%, +1% | Dosage +15% (estimated) |
| TVL | $24 million, down 17% this month, initially falling before rebounding. | n/a (Permanent Storage Model) | <5 M $ (estimated) |
| 30-day on-chain transaction count | 36 million | 71.7 million | 21,000 |
| Daily active user address | ≈10,000 | 5-10 thousand | 102 |
| Main trends | New orders +5% | Uploads +0.9 TiB | Post-merger TX +20% |
IV. Social Interactions and Emotions
- Twitter statistics on the 7th showed that positive posts related to FIL and AR accounted for more than 70%, with content focusing on technical topics such as "AI trusted data foundation" and "programmable storage"; STORJ had limited discussion, with traffic mainly coming from merger and acquisition news.
- There was no obvious "marketing shill" approach; the community's focus was on long-term value building, indicating that the funds were being invested in "thematic investment" rather than short-term speculation.
V. Technical Overview
| Tokens | 1D Trends | RSI | Key resistance | Key support | Distribution/Accumulation |
|---|---|---|---|---|---|
| FIL | Bullish recovery | 64.9 | 2.40 (SMA200) | 1.96 | OBV Daily Chart -165 M |
| AR | Ascending Channel | 66.2 | 6.31 (SMA200) | 5.20 | OBV daily chart -8.3 M |
| STORJ | Consolidation and bottoming out | 52.1 | 0.257 (SMA200) | 0.182 | OBV rose across the board. |
Futures market long/short data:
- FIL 24h OI surged +118%, with negative funding rates across the board, suggesting high leverage for long positions.
- AR OI +77%, Fee Rate -0.07%, Risk Neutral
- STORJ OI +74%, expense ratio -0.31%, structural long.
The liquid level chart shows that FIL $1.96, AR $5.20, and STORJ $0.182 are the main areas of concentrated stop-loss orders for long positions. A break below these levels could trigger a sharp drop.
VI. Risks and Outlook
- Leverage risk: Inverted funding rates and a surge in online investment (OI) suggest short-term overheating; if Bitcoin falls again, it could trigger forced liquidation of long positions in the storage sector.
- The fundamentals are unbalanced: FIL has the largest scale and enterprise application, but TVL still fluctuates with the coin price; AR utilization is low, and it is necessary to verify whether the Irys model can improve activity; STORJ has low absolute activity, and its future growth depends on the effect of mergers and acquisitions.
- Competitive pressure: New frameworks such as Irys, ICP, and Aethir continue to emerge, requiring storage protocols to iterate on cost and programmability.
- Macroeconomic variables: Extreme fear (Fear & Greed 21/100) + ETF outflows, overall liquidity remains fragile. (Phemex)
in conclusion
The recent surge in the storage sector is attributed to the combined effect of long-term AI/DePIN narratives and short-term events.
• FIL has the most solid fundamentals. If a substantial collaboration is announced on DePIN Day and the price holds above $1.96, it could target the $2.40-2.50 range.
• AR needs to break through $6.31 with significant volume to confirm a weekly reversal; otherwise, there is a high probability of a pullback to the $5.20 area.
• The STORJ merger and acquisition theme is still in the early stages of speculation. As long as it holds above $0.182, the next target is $0.193-$0.20.
Overall, the storage sector has medium- to long-term investment value in the wave of decentralized infrastructure. However, given the current high leverage and weak market, it is advisable to control positions in the short term and closely monitor the outcomes of the DePIN conference and changes in macro liquidity.