Stratis (STRAX) is seeing a massive volume rally. Here’s why

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Stratis (STRAX) is seeing a massive volume rally. Here’s why

 Stratis (STRAX) is seeing a massive volume rally. Here’s why
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Highlights

  • Stratis (STRAX) crypto operates as a robust blockchain-as-a-service protocol that offers businesses products and services to develop and deploy smart contracts on their platform.
  • On 28 June, the Stratis crypto token witnessed a massive rally of over 110.28% and a huge volume rally of over 37,820% at 5 AM (GMT +1), according to CoinMarketCap.
  • The Stratis crypto was trading at US$1.01 with a volume of US$75,74,78,596 in the past 24 hours.

Stratis (STRAX) crypto operates as a robust blockchain-as-a-service protocol that offers businesses products and services to develop and deploy smart contracts on their platform. This helps them to implement blockchain technology for different things across industries. The vision of the Stratis protocol is to be a one-stop shop for all blockchains. It aims to become a blockchain-as-a-service (BAAS) platform.

Founded by Chris Trew and Nicolas Dorier, the London-based protocol utilises the C# programming language for Microsoft’s .NET framework and offers wallets and blockchain consulting services through its platform.  

On 28 June, the Stratis crypto token witnessed a massive rally of over 110.28% and a huge volume rally of over 37820% at 5 AM (GMT +1), according to CoinMarketCap. 

Why is Stratis crypto rallying? 

Startis crypto has been rallying on its announcement of launching a Great British Pound Token (GBPT), a stablecoin that will operate on the Stratis technology on 27 June. For this, a new entity will be created, Stratis Investment Group Limited, for the launch of the Stratis GBP stablecoin and will partner with PwC to apply for the Financial Conduct Authority (FCA) registration.

Besides the launch of the stablecoin, Stratis also intends to develop an NFT ticketing system which will be utilised to validate entry and store benefits. The NFT ticketing system is expected to enhance user experience as it comes with blockchain immutability, further strengthening the proof of ownership.

In fact, Stratis has been pretty active of late. Almost a month ago, it had announced its intention of entering into a long-term partnership with the Foundation of King Oyo in Uganda.     

How is Stratis crypto’s price faring? 

The Stratis crypto is US$1.01 with a volume of US$75,74,78,596 in the past 24 hours, according to CoinMarketCap. The STRAX crypto has been raking in big rallies in the last 14 days or so. It has registered rallies of 129.9% and 116.9% in the last one week. STRAX crypto was enjoying a live market cap of US$13,96,92,522 and 13,83,45,687 STRAX coins in circulation on XX June.

Stratis’ gains have been pretty significant in a bearish market. Often the market witnesses price correction following a rally, therefore, the market participants should be wary of that and be sure that they do a thorough study of the trends before making investment decisions.

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