According to data from Coinmarketcap, STRAX’s price rose by 2000% after the announcement of Sky Dream Mall’s metaverse launch and Stratis GBP stablecoin. Its low was $0.365 on June 15, but it reached its highest of $1.20 the next day. Although it has fallen from its previous low, the price is now trading at $1.09 despite being up slightly.
STRAX reached a record high of $22.77 in January 2018, four years earlier. However, the coin’s record low was $0.011 on August 12, 2016, approximately six years ago.
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In spite of the overall market downturn, per the CoinGecko information, Stratis, a blockchain-as-a-service platform, witnessed a notable gain in volume. In the STRAX chart, Numeraire(NMR) shows a noteworthy gain of 201.1%. NMR, an Ethereum token, is what fuels Numerai, a San Francisco-based hedge money.
Stratis is showing a strong growth momentum, increasing by over 140.9% in seven days. This makes it a great investment that defies the bear market. The term “bear market” so refers to a market where commodities or securities’ values are consistently decreasing.
The Reasons for the STRAX price spike this week
Currently, two of the factors are driving the increase in STRAX’s price this week. First, the Stratis GBP stablecoin launch announcement and secondly the Sky Dream Mall metaverse start.
Stratis published a blog posting three days ago stating that the company is progressing in its efforts to launch the Stratis GBP stabilizecoin.
Plans to launch a Great British Pound Token (GBPT) stable coin using Stratis technology are progressing with ‘Stratis Investment Group Limited,’ a new entity created that will be used for the Stratis GBP stablecoin.
Price Waterhouse Coopers is, however, helping the company to obtain licenses from Financial Conduct Authority (FCA).
In the post, it was also mentioned that blockchain technology has the potential to simplify cross-border payments and wholesale payments. Organizations like Visa are increasingly open to receiving stable coin payments.
Polycarbon Games Announced TwitterOn June 25,
Sky Dream Mall, a metaverse powered via Stratis blockchain Coming soon!
The concept of Stratis launching a Metaverse Front could be a key motivator for widespread acceptance in cryptocurrency.
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A few people focus on the benefits this metaverse can offer. However, many are more interested in the potential financial gains from metaverse investments.
Investors can’t ignore the fact Stratis has partnered with Sky Dream Mall to establish itself as a significant player and key figure in the evolving Web3.0 landscape.
Featured Image from Pixabay. Chart by Tradingview.com