stratis update june 2022

The price of STRAX – the native token of the Stratis blockchain – is rising over 80% so far this morning following updates on some of the project’s most attractive initiatives including the launch of a stablecoin pegged to the British pound.

In a blog post released yesterday, Stratis stated that it is “progressing” in its efforts to launch the Stratis GBP stablecoin. According to the firm, it is being assisted by Price Waterhouse Coopers (PwC) to secure the required licenses from the Financial Conduct Authority (FCA).

In the future, PWC may also act as the auditing firm for the project to create periodical reports and attestations in regards to the token’s reserve assets.

Your capital is at risk.

More Updates on the NFT Front from Stratis

The team behind Stratis informed the community that it is actively developing a ticketing system for the creation of non-fungible tokens (NFT) to be used at different events and venues as a way to validate entry and distribute rewards.

Stratis will initially test the system within its own events but it has already started conversations with several artists and venues so they can rely on the solution to power their respective events.

In addition, Stratis partnered with SGN, a brand management agency, to create a campaign that raises awareness for Stratisphere – the project’s decentralized and commission-free NFT marketplace.

To achieve this goal, the firm will invest in paid advertising on social media while employing several agencies to create targeted content via the use of influencers on platforms such as TikTok, Twitter, and Facebook.

What is STRAX?

Strax is the name of the native token that powers the Stratis ecosystem. The project’s goal is to provide C# and .NET (Microsoft) developers with a suite of products and solutions that allow them to build and migrate their applications and programs to the blockchain.

Stratis operates on the Bitcoin blockchain but the project has created a proof-of-stake (PoS) side chain that allows it to record transactions without the high carbon footprint that is typically associated with the proof-of-work protocol.

Smart contracts can also be deployed and powered by Stratis and their execution is enabled by Masternodes – the name given to the network’s validators, who are compensated with 50% of every block minted on the Stratis mainnet.

Currently, the STRAX token can be traded on Binance, Crypto.com, and Upbit while there is also a wrapped version of the token called Wrapped STRAX (wSTRAX) that is available on the Ethereum blockchain via UniSwap.

Stratis Price Prediction (2022 – 2025)

stratis price chart

Stratis (STRAX/USD) price chart – Source: CoinMarketCap

Despite the latest uptick, the value of Stratis so far this year is accumulating a 29% drop as a change in the macroeconomic backdrop has led to a decline in the valuation of most cryptocurrencies regardless of any positive project-specific developments that have occurred during the year.

However, these recent updates appear to have excited market participants as indicated by the sharp rebound that STRAX has experienced since yesterday. In the past 24 hours, the token accumulates an 84% gain and trading volumes have surged 8,232% to $939.2 million during that same period.

This has propelled Stratis to the 10th place of most traded cryptocurrencies in the past 24 hours, currently accounting for 1.6% of the ecosystem’s traded volume within that period.

According to predictions from Wallet Investor, the short-term outlook for STRAX is bullish even though the upside potential seems limited as the price is forecasted to rise to $1.03 per coin in the next 14 days.

However, in the mid and long term, the algorithm is predicting that STRAX could crash to as low as $0.04 per coin, possibly due to the high level of volatility that the crypto market is experiencing at the moment.

The future of the STRAX token will depend primarily on the developing team’s ability to complete some of the projects mentioned earlier in the article including the launch of a GBP-pegged stablecoin and an increase in the public’s awareness concerning the Stratis’ ecosystem including its NFT marketplace.

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