Stratis (STRAX) Soars 200% From June Low On Sky Dream Mall Launch
June 30 2022 - 4:00PM
NEWSBTC
After the news of the launch of the Sky Dream Mall metaverse and
Stratis GBP stablecoin, the price of STRAX increased by 200% from
its low of $0.365 on June 15 to its high of $1.20 on June 29,
according to data from coinmarketcap. The price dropped the next
day and is currently trading at $1.09, although it is still up from
its low. The record high for STRAX was $22.77 on January 8, 2018,
more than four years ago. However, the coin’s record low was $0.011
on August 12, 2016, approximately six years ago. Related Reading
| Bitcoin Slides Under $20K – Another Collapse In The Offing?
In spite of the overall market downturn, per the CoinGecko
information, Stratis, a blockchain-as-a-service platform, witnessed
a notable gain in volume. And among STRAX, Numeraire (NMR) is
another coin that shows a notable gain of 201.1% in the seven-day
chart. NMR is an Ethereum token that fuels Numerai (a San
Francisco-based hedge fund). Since Stratis has a
comparatively strong growth momentum and increased by more than
140.9% over seven days, it is defying expectations in the current
bear market. The term “bear market” so refers to a market where
commodities or securities’ values are consistently decreasing.
Reasons Behind STRAX Price Spike This Week Currently, two of the
factors are driving the increase in STRAX’s price this week. The
first is the Stratis GBP stablecoin announcement, and the second is
the Sky Dream Mall metaverse launch. In a blog post published three
days ago, Stratis said that it is making progress in its attempts
to introduce the Stratis GBP stablecoin: 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. However,
Price Waterhouse Coopers (PwC), according to the company, is
assisting it in obtaining the necessary licenses from the Financial
Conduct Authority (FCA). The post also stated that blockchain
technology offers a significant chance to streamline cross-border
and wholesale payments as organizations like Visa are becoming more
open to accepting stable coin payments. Polycarbon Games announced
on Twitter on June 25: Sky Dream Mall, a metaverse powered by
Stratis Blockchain Coming soon! The idea of Stratis launching
the metaverse front could also be a major motivator behind
widespread acceptance in the cryptocurrency industry. Related
Reading | Mining Operators Fret As Bitcoin Looses Ground, What
Lies Ahead For The Mining Community While a few individuals
concentrate on the benefit this metaverse will offer, a far more
significant number is intrigued by the possibility of financial
gain from a metaverse investment. Investors cannot ignore the fact
that Stratis is establishing itself with Sky Dream Mall as a major
player who will be important in the developing Web3.0 world.
Featured image from Pixabay, chart from Tradingview.com
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