Stronger (STRNGR) crypto: Will the rally last for this token?

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Stronger (STRNGR) crypto: Will the rally last for this token?

 Stronger (STRNGR) crypto: Will the rally last for this token?
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Highlights

  • The STRNGR crypto is the first and only blockchain-agnostic network that aims to reward the nodes for supporting their infrastructure.
  • Built on top of the Ethereum blockchain, the STRGNR allows the users to either use the existing nodes in a fraction of a second or even use their own node and in return get receive STRONG token rewards every day.
  • STRNGR crypto on Wednesday was trading at US$25.50 with a volume of US$25,93,881 over a day, according to CoinMarketCap.

On a day when the crypto market is down, there are only a handful of cryptos that are performing better in the gloomy situation. The crypto market for some time now has been stung by a bearish trend, refusing to show any signs of revival.

To make matters worse, one of the well-known tokens Terra (Luna) has been suffering close to 97% losses in the past 24 hours, shrinking the overall market cap to US$1.34 trillion. This blood bath in the crypto market has resulted in losing close to 9.63% in the past 24 hours.

But one relatively unknown crypto that has managed to impress the investors is the Stronger (STRNGR) crypto. On 11 May, the 3018-ranked token has been witnessing a rally of over 2% in the past 24 hours.

Also read: Terra (Luna) crypto down by over 70%: Will it dip more?

What is STRNGR crypto?

The STRNGR crypto is perhaps the first and only blockchain-agnostic network that aims to reward the nodes for supporting their infrastructure. Built on top of the Ethereum blockchain, the STRGNR allows the users to either use the existing nodes in a fraction of a second or even use their own node and in return get receive STRONG token rewards every day.

By the twin forces of demand for high-quality public blockchain performance and the DeFi Tokenomics, the STRNG protocol with its ability to provide an ongoing Node Universal Basic Income (NUBI) gets a chance to decide on how to govern the protocol in the long run.

Also read: 3 times Bitcoin bounced back after a dip. Is there a ray of hope?

Though the exact reason for the STRNGR rally is still unclear, the protocol had recently announced that it has managed to achieve its milestone of creating 540,000 nodes. Led by its CEO David Moss, the protocol recently retired the STRONG-ETH pool and LINK-STRONG pool in a bid to increase its sustainability and reduce carbon emissions.

How is STRGR crypto faring?

On Wednesday, STRNGR crypto was trading at US$25.50 with a trading volume of US$25,93,881 over a day, according to CoinMarketCap. The STRNGR crypto was up by 4.60% in the last 24 hours with a fully diluted market cap of US$250,566,544 and a total supply of 290,605 STRNGR coins. 

Today’s rally has been a welcome relief for the token considering its value depreciation in the last month or so. In the past 30 days, the crypto has lost close to 68.3%. In the last one week, it has suffered massively, losing almost 30% of its value.

Whether the rally will sustain or perish remains to be seen, but in such a volatile situation, the market participants would be extra careful in taking a call on where the market would swing. Despite their indecisions, it’s important to conduct correct checks and balances to ensure that the market participants don’t end up on the losing side.

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