Cartesi Price Prediction 2024: CTSI Price Analysis
What's next for Cartesi?
Key Takeaways
- Cartesi launched its CTSI token in April 2020.
- It surged to $1 one year after its launch.
- Our price prediction says CTSI could reach $0.31 next year.
Cartesi (CTSI) , an app-specific rollup scaling solution designed for Ethereum, started the year with a remarkable breakout rally. During that surge, the token experienced an impressive 50% spike, reaching a approximately $0.25. But it fell since then, almost halving its value in August.
What sets CTSI apart is its remarkable outperformance against the broader cryptocurrency market, marked by a one-day volume surge of more than 11,293%, reaching $378 million. This surge has captured the attention of crypto trading circles. Interestingly, no specific news catalyst has surfaced thus far to explain the reasons behind this sudden and noteworthy short squeeze.
In the context of Ethereum’ struggles with network congestion and elevated transaction fees, rollup technologies like Cartesi serve as a potential solution. By efficiently bundling or ‘rolling up’ transactions off the primary Ethereum (ETH) chain and transmitting streamlined data back to the blockchain, rollups present a viable avenue for substantial throughput enhancements at reduced costs. Cartesi’s recent surge may be indicative of growing recognition and adoption as the crypto community seeks effective solutions to Ethereum’s scalability challenges.
On August 6 2024, Cartesi was worth about $0.12.
Cartesi did not respond to a request for comment
Let’s take a look at our Cartesi price predictions, made on August 6, 2024. We will also examine the Cartesi price history and talk a little about what Cartesi is and what it does.
Cartesi Price Prediction
Let’s examine some of Cartesi price predictions CCN.com made on August 6, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate.
| Minimum CTSI Price Prediction | Average CTSI Price Prediction | Maximum CTSI Price Prediction | |
|---|---|---|---|
| 2024 | $0.11 | $0.25 | $0.27 |
| 2025 | $0.26 | $0.30 | $0.31 |
| 2030 | $0.81 | $0.88 | $0.90 |
Cartesi Price Prediction for 2024
If the positive momentum continues and CTSI breaks above its moving averages, it could reach targets between $0.11 and $0.27 by the end of 2024, with the average price set at $0.25.
Cartesi Price Prediction for 2025
Technical analysis suggests a potential increase for Cartesi in 2025. The minimum CTSI price expected for 2025 is $0.26 while the maximum one is $0.31. On the other hand, the average forecast suggests it may reach $0.30.
Cartesi Price Prediction for 2030
Based on technical analysis, the CTSI token may reach a maximum level of $0.90 at the beginning of the next decade, while, in the worst scenario, it may go to $0.81. Meanwhile, the average expected price is $0.88.
Cartesi Price Analysis
Investors have consistently accepted lower prices to exit their positions in Cartesi, indicating a persistent downtrend in the medium to long term. This falling trend reflects negative sentiment and decreasing buying interest among investors.
Currently, the token is testing resistance at $0.12, which may prompt a negative reaction. However, a breakthrough above this level would signal a positive shift.
Historically, volume has been high at price peaks and low at troughs, weakening the downward trend and potentially signaling an impending reversal. The Relative Strength Index (RSI) is around 30, suggesting negative momentum in the short term. This consistent price reduction by investors points to growing pessimism and further potential declines.
Nonetheless, in major stocks, a low RSI can indicate that the stock is oversold, presenting a chance for an upward reaction. The declining RSI curve further supports the ongoing negative trend.
Short Term Cartesi Price Prediction
The Cartesi price prediction for the next 24 suggests a 1% increase, before dripping 3.9% in the next month, reaching $0.116886 by September 5, 2024.
Technical indicators show a bearish sentiment, with the Fear & Greed Index registering 17, indicating extreme fear. Over the past 30 days, Cartesi has experienced 43% green days and a price volatility of 7.7%. Based on this forecast, it is not a favorable time to invest in Cartesi.
Cartesi Relative Strength Index (RSI): Is CTSI Oversold or Undersold?
Cartesi Price Performance Comparisons
| Current Price | One Year Ago | Price Change | |
|---|---|---|---|
| Cartesi | $0.1204 | $0.1467 | -17% |
| Optimism | $1.27 | $1.7967 | -25% |
| Coti | $0.07516 | $0.04941 | +58% |
| Band Protocol | $1.07 | $1.2295 | -12% |
How Do We Make a Cartesi Price Prediction?
Our price prediction for Cartesi combines technical analysis tools and recognizes the logic in price cycles. We usually use the Relative Strength Index, Fibonacci, and other main technical analysis tools. Applied to Cartesi-specific time-frames and its price history, we can come up with the targets, but the further we project, the less accurate they are. This is because they depend on what happens in between.
Best Days and Months to Buy Cartesi
We took a look at Cartesi price history and found the times when the price was at its lowest across certain days, months, quarters and even weeks in the year, suggesting the best times to buy CTSI.
| Day of the Week | Wednesday |
| Week | Seven |
| Month | February |
| Quarter | First |
Cartesi Price History
Following that, let’s now take a look at some of the key dates in the Cartesi price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting a Cartesi price prediction.
| Time period | Cartesi price |
|---|---|
| Last week (July 31, 2024) | $0.1509 |
| Last month (July 6, 2024) | $0.1438 |
| Three months ago (May 6, 2024) | $0.2059 |
| Last year (August 6, 2024) | $0.1467 |
| Launch price (April 24, 2020) | $0.05701 |
| All-time high (May 10, 2021) | $1.4591 |
| All-time low (November 3, 2020) | $0.02921 |
Cartesi Market Cap
The market capitalization, or market cap, is the sum of the total number of CTSI in circulation multiplied by its price. On August 5, 2024, Cartesi’s market cap was $99.7 million, therefore making it the 306th largest crypto by that metric.
Who Owns the Most Cartesi (CTSI) Coins?
On August 6, 2024, a wallet held 33.29% of the supply of CTSI.
Richest CTSI Wallet Addresses
As of August 6, 2024, the five wallets with the most CTSI were:
- 0x9edeadfde65bcfd0907db3acdb3445229c764a69. This wallet held 332,946,076 CTSI, or 33.29% of the supply.
- 0xc783e5e67b646282fa1ba80878c9debbbceee11a. This wallet held 100,000,000 CTSI, or 10% of the supply.
- 0x60247492f1538ed4520e61ae41ca2a8447592ff5. This wallet held 59,476,419 CTSI, or 5.95% of the supply.
- 0xef136c9bea3e397ffed3cd8ad12511a7421116a0. This wallet held 50,000,000 CTSI, or 5% of the supply.
- 0xf977814e90da44bfa03b6295a0616a897441acec. This wallet also held 42,817,226 CTSI, or 4.28% of the supply.
Cartesi Supply and Distribution
| Supply and Distribution | Figures |
|---|---|
| Maximum Supply | 1,000,000,000 |
| Circulating Supply (as of August 6, 2024) | 825,242,000 (82.5% of maximum supply) |
| Holder distribution | Top 10 holders owned 67% of supply, as of August 6 2024 |
From the Cartesi Whitepaper
In its technical documentation, or whitepaper , Cartesi says: “While much of the technological underpinning and software architecture described in the whitepaper still holds true for the project to this day, the Cartesi technology in its current state is the product of years of research, development, and contributions by a growing and decentralized community of independent teams, companies, and individuals.”
It adds: “Cartesi is a layer-2 platform for the development and deployment of scalable decentralized applications. Cartesi DApps are composed of both blockchain and off-chain components. Off-chain components run inside Cartesi Nodes that represent the interests of each DApp user. Its Nodes provide DApp developers with reproducible Cartesi Machines, where large scale verifiable computations can be run.”
Cartesi (CTSI) Explained
Cartesi is an app-specific rollup protocol with a virtual machine that runs Linux distributions, creating a richer and broader design space for DApp developers.
Its Rollups offer a modular scaling solution, deployable as layer 2, layer 3, or sovereign rollups, while maintaining strong base layer security guarantees.
How Cartesi Works
Cartesi allows developers to move beyond shared computation and EVM design limitations.
With Cartesi Rollups, DApps don’t compete with each other for processing power like they do on Ethereum and existing layer 2 scaling solutions.
With the Cartesi Virtual Machine, DApp developers move beyond the EVM and gain access to the full suite of code libraries, programming languages, and open-source tooling they’re accustomed to.
Is Cartesi a Good Investment?
It is hard to say. The coin’s price shot up after its launch but moved sideways since then, if we exclude the peak hit in May 2021.
On the other hand, there are good reasons for CTSI’s recent price surge, with new developments getting investors attention.
As always with crypto, you will need to make sure you do your own research before deciding whether or not to invest in CTSI.
Will Cartesi go up or down?
No one can really tell right now. While the Cartesi crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Should I invest in Cartesi?
Before you decide whether or not to invest in Cartesi, you will have to do your own research, not only on CTSI, but on other, similar, coins and tokens such as Filecoin (FIL). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
FAQs
Will Cartesi reach $1?
It might do, but not soon. Price predictions based on the technical analysis said it may reach that level in the next decade.
Keep in mind that, although CTSI traded above $1 in May 2021 last time.
What is Cartesi used for?
The Cartesi cryptocurrency (CTSI crypto) is a multipurpose token that powers the Cartesi Proof of Stake network. It is primarily used for incentivizing Cartesi node operators to engage with the system honestly, as well as for staking and paying transaction fees in the system.
Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
