In the cryptocurrency industry, if a project lacks usability or is unable to gather a higher adoption, then the situation can be very harsh for them. This is the reason why you won’t see many projects make it for a longer period of time.
However, there are projects who may start slow but in a short amount of time, they grow into strong projects. This is due to the dedication of such projects and their ambition of forming a strong market with highly positive sentiments.
To an extent, such products even manage to grow and gain a high adoption despite the overall sentiments of the users being low.
Stratis (STRAX) is Under the Spotlight
Among the projects that have managed to show their dedication and ambition to the users and earn a lot of respect is Stratis (STRAX). Stratis exists as a development platform for blockchain networks. It has been designed in a way that the businesses are able to create and launch their own blockchains, in the most simplified manner.
Despite the general market downtrend, Stratis has been delivering a strong performance. It is recording a constant rise in its trading volume as it has managed to build a strong user base.
The data suggests that on June 15, STRAX traded at a low price of $0.365. From that point, the trading price of STRAX has continued moving in the upward direction.
As per data from some of the major data analytical firms, the STRAX rally has remained strong. By June 29, the overall (weighted) rally observed by STRAX was 220%. On June 29, the trading price of STRAX has been pushed up to $1.20.
Just like the trading price, the trading volume for STRAX has continued rising. It is a normal phenomenon with trading volume that occurs when the trading price of a digital arises. People jump to the opportunity and they start buying/selling it on a larger scale, which boosts the trading volume tremendously.
Announcements that have Helped STRAX Record a Rally
One may ask, why STRAX is moving into the strong bullish zone while the rest of the cryptocurrency continues to suffer. The answer lies in the two major announcements the development teams behind Stratis made.
These announcements worked like charms for STRAX and helped it earn a strong rally and a huge influx of investors.
The first major announcement the Stratis development team made was the launch of Sky Dream Mall. It is a metaverse project that the Stratis teams have been working on. Stratis may soon launch the Sky Dream Mall, which may offer great opportunities for interaction.
The second major announcement is the possible launch of a new stablecoin. The teams hinted that they will be launching a new stablecoin known as the Great British Pound Token (GBPT).