Why Cartesi (CTSI) crypto’s trading volume grew 70% on Friday?

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 Why Cartesi (CTSI) crypto’s trading volume grew 70% on Friday?
Image source: © Alexanderushkevich | Megapixl.com

Highlights:

  • Cartesi is a Layer-2 blockchain OS to develop and deploy decentralized applications. 
  • It was founded in 2018 by four people who currently hold key positions in Cartesi.
  • The network’s utility token is CTSI.

Cartesi (CTSI) token rallied on Friday for no apparent reason. It was up 14.6% to US$0.1628 at 7:56 am ET. Its trading volume jumped 70.37% to US$22.01 million in the last 24 hours.

On July 14, Cartesi released its CTSI Foundation Reserve Transparency report that details its operations, governance, token allocations, etc.

However, the token’s rise could be attributed to the market’s positive sentiment. Its market capitalization grew to US$933.45 billion, up 5.63% in the last 24 hours.

What is Cartesi (CTSI)?

Cartesi is a Layer-2 blockchain OS to develop and deploy decentralized applications. Its infrastructure supports Linux operating system and mainstream software, helping developers in coding scalable smart contracts and building DApps in familiar programming languages.

Its co-founders are Erick de Moura (CEO), Colin Steil (COO), Diego Nehab (CTO), and Augusto Teixeira (Chief Scientific Officer). The platform’s virtual machines, rollups, and side-chains enables developers to build next-generation blockchain DApps.  

Cartesi claims to be the first blockchain OS, which boosts computational scalability, supports sophisticated decentralized applications, and protects users’ privacy.

CTSI token:

CTSI is the utility token of the network. With a circulating supply of 593 million, CTSI’s current market capitalization is US$96.6 million. The total supply is one billion. The crypto exchanges that offer the token include Binance, MEXC, Kraken, KuCoin, WazirX, BingX, Bybit, DigiFinex, etc.

Bottom line:

Cartesi’s project team has years of experience in coding and blockchain technology. However, the crypto market is highly volatile; investors should apply caution before investing in cryptos.  

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