The STRAX coin has performed exceptionally well this month, jumping to its highest level since April. Over the past few weeks, the coin has gained about 152% from its lowest point, reaching more than $1.1960 a coin.
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What is STRAX?
STRAX is the native token developed in the Stratis ecosystem. The Strax (STR) token is used to meet the needs of C# and .NET programmers as they build and migrate applications to blockchain.
Stratis is a company that helps developers with the Microsoft language to create technologically advanced blockchain solutions. It has features like smart contracts in C# and its decentralized accelerator, built on the Stratis ecosystem.
With Stratis, you can develop games using their Unity and Unreal Gaming SDKs so that the gaming industry can enter a new era of authentic games with digital identity. The Unreal and Unity Gaming SDKs were developed to create games like Gluon, Hashbattle and Dawns of Ships.
Price Predictions of STRAX
The Stratis price increased dramatically in the past few days. As the price rose, the coin cruised above important resistances and is approaching the overbought level.
It’s unclear why the STRAX price has skyrocketed, but there may be a possibility that this is just a pump. Recently, we’ve seen many of these schemes occur with smaller-sized cryptocurrencies.
A good example is Spell Token which soared on Sunday but dropped more than 30% by Monday morning.
This will likely cause the price to have a pullback in the coming days. If that’s the case, the next key support level is $0.685, 25% below current levels. The pattern will be invalidated if the intraday high of $1 is breached.
The worth of STRAX is predicted to reach $1.03 in the next 14 days. This bullish forecast seems limited while the price of STRAX is determined by many factors like supply and demand.
However, the STRAX algorithm is predicting that the value of STRAX could drop to as low as $0.04 per coin in the mid and long term. This might happen because the crypto-market experiences high volatility.
There are a few predicting factors that will affect the future of the STRAX token. Some of these include developing the GBP-pegged stablecoin and increasing awareness about Stratis’ ecosystem. The future of the token will depend on how well the team can launch a project that links GBP to the Stratis ecosystem and incentivises users to use it.
Where to Invest in STRAX?
Stratis is a blockchain project that created a side chain. This allows Stratis to run without the high energy input of the proof-of-work protocol, while still being recorded on the Bitcoin blockchain.
Smart contracts are powered by Stratis, which is a project that also provides execution. Validators can be people who create blocks in the network and they get compensated with 50% of the block’s rewards.
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The STRAX token can be traded on Upbit, Crypto.com, and Binance as well as via a wrapped variant called Wrapped STRAX (wSTRAX) on the Ethereum blockchain which can be traded through UniSwap.
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