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Stratis - STRAX

Updated: Jul 8

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What is Stratis (STRAX) and how does it work?

Stratis (STRAX) is a blockchain-as-a-service platform created for developers to launch and run blockchain-based applications and networks. Stratis offers a range of products for companies, such as launching private sidechains, running full nodes, developing and deploying smart contracts, a platform for initial coin offerings, and a proof-of-identity application. Additionally, it also provides its customers with crypto wallets and consulting services.

The company was initially founded by Chris Trew in early 2016, focusing on developing an enterprise-focused blockchain platform, which was missing from the crypto industry at the time. After launching, the platform would deploy its native token STRAX, which would later be substituted by the upgraded new blockchain using STRAX. STRAX can be used to purchase and operate services on the Stratis crypto blockchain, such as paying for sidechains, staking as collateral to operate a Masternode or even executing smart contracts.

What makes Stratis unique is that it was designed as a BaaS platform tailored to financial service providers, allowing them to test, develop and deploy blockchain-based applications without the need of launching their network, which can often be costly and risky. Stratis allows to run permissioned, private side chains that interact with its primary chain, deploy smart contracts, use privacy and identity verification tools provided by Stratis, and host decentralized applications. This approach allows for customization without relying on another significant blockchain, such as Ethereum or Bitcoin.

After its rebrand from STRAX and launch as STRAX in November 2020, the company announced an updated development roadmap for the following year, including additional features such as interoperability with other blockchains such as Ethereum, an Internet of Things software development kit, a decentralized finance software library, and the launch of its decentralized autonomous organization (DAO). Additionally, over the last few years, Stratis developed strategic business partnerships with major tech companies such as Microsoft, pharmaceutical blockchain development company MediConnect, as well as a technology markets intelligence company International Data Corporation. To raise additional awareness, Stratis has also sponsored professional athletes.


Coin Analysis

Last update 28/6/2022

Stratis crypto was initially founded in 2016, launching its token STRAX later that year. However, in 2020 the company decided to develop an upgraded version of the blockchain, and its ticker was changed to STRAX. Stratis STRAX was initially listed on Binance in late 2020 and started trading at around $0.388. However, in the following weeks, STRAX's price spiked to $0.800, a range that would fluctuate until the end of the year.

Following this lateral move, STRAX spiked in price and reached a new high of $2 in February 2021. Move that was wiped out the following weeks with prices crashing back down to $1. However, the upwards move wasn’t over yet, and the following month STRAX price increased to $2.40 and then to over $3.40, reaching another all-time high.

STRAX/BUSD weekly candles chart
STRAX/BUSD weekly candles chart

After reaching its highest price in May, STRAX's price crashed back to $1, before attempting to reach its all-time highs once more but falling short, reaching$3, before continuing its descent. Following that move, Stratis's price gradually continued declining in the late part of 2021, trailing nearly perfectly its moving average EMA20 on higher time frames. This continued into 2022, as its price failed to hold the $1 and continued flailing below, reaching its original launch price of around $0.388.

Ever since STRAX's price has made a recovery, with an abrupt move its price has spiked back around $0.800, breaching the first significant horizontal resistance. It has reached its 20EMA, a significant level that it needs to regain if it wants to move back upwards. If it manages to hold this level and continue its ascent, it’s likely to invert the trend and make a more significant upward push.

STRAX is available for trading on dApp.

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STRAX coinmarketcap

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