Why is Stratos (STOS) crypto buzzing today? Will it revive?

Highlights

• Stratos is a next generation of decentralised data mesh
• Stratos is reviving from its all-time low recorded 6 days back
• Stratos entered into a strategic partnership with Atlas

The overall crypto market witnessed minor pullback on Friday (3 June 2022) with global crypto market capitalisation surging to US$1.26 trillion, 2.21% in the last 24 hours, according to CoinMarketCap. The bellwether crypto, Bitcoin gained 2.48% while Ethereum corrected by 0.45% in the last 24 hours, at the time of drafting this article. Following the overall positive market sentiment, many altcoins also witnessed recovery from their May lows. One such altcoin is Stratos (STOS) crypto, which was up over 7% compared to its price at the same time yesterday.

At press time, STOS crypto was trading at US$0.3871 per token with nearly 35% jump in its trading volume at US$616,434. Market capitalisation of STOS is nearly US$8 million and based on this market cap, CoinMarketCap has ranked this crypto at 846^th place. After today’s rally, STOS crypto is nearly 13% higher from its all-time low of US$0.3444 hit on 27 May 2022. Now it has a long way to go to reach its all-time high of US$5.48, recorded on 25 November 2021. Now, the question that arises here is, will STOS crypto be able to maintain this momentum? Will it revive in future? To get answers to this question, it is important to know what Stratos cryptocurrency is?

Everything you need to know about Stratos

As its whitepaper states, the purpose of Stratos is to scale up blockchain process capacity while retaining the decentralised benefit of a distributed protocol. Stratos claims to be the next generation of decentralised data mesh and provides a solid foundation for data processing. According to the white paper, the project provides reliable, self-balanced storage, database, and computation network.

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Talking about the storage of Stratos, on the network, the user enjoys full flexibility to store any kind of data, regardless of its type and size. Stratos whitepaper claims that the database of the network is non-schema and has no single point failure database. Moreover, the edge computing of STOS aims to make users' lives easier and smarter.

The project aims to simplify decentralised data adoption for Web 3.0 and blockchain. The unique proof-of-traffic consensus of Stratos rewards network participants. 

 Image source: © Ipopba | Megapixl.com

Recent developments at Stratos

On 20 May 2022, Stratos shared its bi-weekly progress report. Through the report, Stratos informed that it has nearly completed the Stratos chain upgrade and has reached the testing stage.

Stratos report highlighted that EVM support features had been implemented, and partial testing is finished. After this, the network can deploy solidity smart contracts.

Stratos team have introduced improvements to the meta node performance; as a result, the meta node can precisely assign work to resource nodes, ensuring good connectivity.

On 19 May 2022, Stratos shared that it has entered into a strategic partnership with blockchain infrastructure provider Atlas Technology management. This partnership is expected to help Stratos expand its global network footprints.

Stratos said that Atlas would be a crucial part of building its decentralised infrastructure. Atlas will act as node provider and ecosystem partner.

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Bottom line

Despite these recent developments, it is difficult at this point to say if STOS crypto will be able to recover the lost ground. Potential investors looking to create long position in STOS token need to exercise extreme caution given the volatility this token has shown in the past.  

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