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The Power of Influencers: StormX (STMX) Pumps After YouTube Video

CryptocurrencyMar 23, 2021 03:00AM ET
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The Power of Influencers: StormX (STMX) Pumps After YouTube Video

  • After a YouTube video by JRNY Crypto about Altcoins he’ll be purchasing, StormX rose by a whopping 189.68% within 7 days, trading at $0.05833.
  • The video has garnered over 240,000 views in less than 5 days and was the third instalment in an ongoing series about Altcoins.
  • With 351,000 subscribers, JRNY joins the ranks of YouTube influencers such as BitBoy Crypto, Crypto Mobster, Crypto Fiend and Coin Bureau who wield enormous powers of persuasion over their numerous subscribers.
  • StormX is a gamified marketplace that lets users gain STMX ERC-20 tokens by shopping online at partner stores or undertaking certain tasks.

StormX experienced the latest jolt which sent prices soaring by over 180%, raising its market capitalization to $495,667,431.83 after a YouTube video by JRNY Crypto hit the internet.

This latest occurrence makes it hard to ignore the important role that YouTube crypto influencers play in the ecosystem.

JRNY Crypto And Youtube’s Power

The power of YouTube influencers in today’s digital society is hard to miss. The decentralization it provides cuts across tech, health, entertainment and lately, cryptocurrencies. Such decentralized influence is reminiscent of when Redditors backed GameStop (NYSE:GME) against Wall Street.

In crypto circles, YouTube channels such as BitBoy Crypto (681,000 subscribers), JRNY Crypto, Crypto Mobster, Crypto Fiend, and Coin Bureau (with a combined subscriber base of over 700,000) have become leading influencers in the cryptocurrency industry.

The latest display of power held by YouTube influencers was the strong price rally by STMX following a video by JRNY Crypto on 17th March 2021. The video was the 3rd episode in the $1K TO $10K Trading Series in which JRNY Crypto talks about the cryptocurrencies he will be trading to make short to mid-term profits.

In the 14-minute video, JRNY Crypto gave cogent reasons as to why he is investing in the asset, citing the brilliant team behind the project, high staking rewards, and the ability to earn crypto rewards by using the app.

Since its upload, the video has accumulated over 240,000 views and STMX token experienced a strong price rally. JRNY determined STMX to be a “good mid-term hold” and went on to provide insight on the features of the StormX app.

JRNY said that while the future of the asset is bright, issues persist on the marketing side, stating that “if the project can push strongly on marketing, I definitely think the price of STMX can really explode”.

On the Flipside

  • The fifth largest crypto, Cardano (ADA) suffers loss amidst profit-taking from leading altcoins.
  • ADA which exploded by more than 20% on March 16, has seen its growth plateau.
  • After reaching its 7 day high of $1.47, ADA now exchanges hands at $1.18.
  • Regardless, Cardano’s ADA is now tradeable on Coinbase.

STMX Fortunes

Since the video, STMX has gained 189.68%, ranking it as the 118th largest cryptocurrency by market capitalization on CoinMarketCap. With a market capitalization of $495,667,431.83, STMX currently trades at $0.05722 and looks bullish to surpass its previous high set in 2018 of $0.2466.

Upon launch, StormX sought to create a Blockchain, gamified platform that allows users to earn STMX ERC-20 tokens by completing different tasks and shopping online at partner stores. It supports over 750 shops and offers the user up to 87.5% Crypto Cash Back depending on their StormX Reward Membership level.

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The Power of Influencers: StormX (STMX) Pumps After YouTube Video
 

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