The Stratis blockchain could soon be no more. The system’s operators have announced that the platform will move from its mainnet, which launched in late 2020, onto an Ethereum (ETH) sidechain. The platform would then focus on online gaming.
However, that news has been well-received, with the price of the STRAX coin shooting up. Ironically, the update will also include STRAX being swapped for a new crypto, STRAT.
Stratis did not immediately respond to a request for comment.
But what is Stratis (STRAX)? How does Stratis work? Let’s see what we can find out, and also take a look at some of the Stratis Price Predictions that were being made as of October 12, 2023.
Let’s examine some of the Stratis price predictions being made on October 12, 2023. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, meaning they can change anytime. Perhaps more importantly, STRAX as we know it may not exist at some point shortly.
First, CoinCodex had a Stratis price prediction that said STRAX would climb to $0.7374 by October 16 but fall to $0.5594 by November 10. The site’s technical analysis was on the bullish side of neutral, with 22 indicators sending upbeat signals and nine making bearish ones.
Moving on, DigitalCoinPrice said STRAX would reach $2.51 in 2025, while PricePrediction.net said it would be worth $1.18. CaptainAltCoin’s Stratis price forecast had it trade at $1.57 in two years.
Looking at a more long-term Stratis price prediction, DigitalCoinPrice said the coin would reach $7.48 in 2030. PricePrediction.net said it would be worth $8.08 that year. CaptainAltCoin was not so optimistic. The site said that Strax would fall to $0 by the start of the next decade, becoming a de facto dead coin.
Now, let’s examine some of the highlights and lowlights of the Stratis price history . While we should never take past performance as an indicator of future results, knowing what the coin has achieved can provide us with some very useful context if we want to make or interpret a Stratis price prediction.
STRAX first came onto the open market in August 2016, when it was worth an all-time low of $0.008483. There was some growth, but the first notable price movement happened later the following year. It was then that the market went into a bubble and Stratis ended up reaching an all-time high of $22.66 on January 8, 2018.
The so-called crypto winter of the following three years saw STRAX trade under the dollar. There was a turnaround during the bull market of early 2021, and Stratis was worth more than $3 in May that year. The price dropped and the crypto closed the year at $1.39.
2022 saw both STRAX and the overall crypto market plunge. The coin dropped below $1 in late April. The following month saw the collapse of the Terra (LUNA) blockchain and, in November, the FTX (FTT) exchange declared bankruptcy. Both these events had, understandably, a negative effect. In turn, this meant Stratis closed December 31 2022 at $0.3869, down more than 70% year-on-year.
So far, 2023 has been a topsy-turvy year for STRAX. The coin rallied early on, spiking at more than $0.70 in late March. A downturn followed, with the aftermath of the United States Securities and Exchange Commission (SEC) suing the Binance and Coinbase exchanges pushing Stratis down to $0.3845 on June 15.
The following month, a court ruling that Ripple’s XRP crypto was not a security if it was sold on an exchange saw STRAX hit $0.662 on July 15. There was another downturn and, by September 11 it was worth $0.378. There was some recovery after this and, by the start of October 6, it stood at $0.461. The Ethereum announcement saw it rocket up nearly 90% to $0.8703 the following day. By October 12, 2023, Stratis was worth about $0.72.
At that time, there were 154 million STRAX in circulation, representing the total supply. This gave the coin a market cap of about $111 million, making it the 179th-largest crypto by that metric.
Stratis is currently more than 55% higher than it was on October 6. However, it is down more than 15% from October 7. That said, STRAX is worth 90% more than on September 11 and is up more than 85% since the start of the year.
It is difficult to tell right now. There is some excitement about recent news but we don’t know how long this renewed interest will last. It will be up to Stratis to ensure people continue to buy STRAX once the current excitement has died down. Indeed, the new STRAT may render STRAX redundant.
As ever with crypto, you will need to make sure you do your research before deciding whether or not to invest in STRAX.
No one can tell right now. While the Stratis crypto price predictions are largely positive – although CaptainAltCoin says it will be worthless in seven years – 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.
Before you decide whether or not to invest in Stratis, you will have to do your research, not only on STRAX but on other, coins and tokens such as Hedera (HBAR) and 1INCH. Either way, you will also need to make sure that you never invest more money than you can afford to lose.
The Stratis blockchain was created to help financial service providers create their decentralized applications (DApps) without having to set up their blockchain. The system features a software development kit that can be used with the Internet of Things – devices that are not computers but have internet connectivity – and is compatible with the Ethereum (ETH) blockchain.
This, however, is set to change, although it is unclear when.
Computer programmer Chris Trew founded the Stratis Group in 2016.
The STRAX coin supports the Stratis blockchain.
Stratis uses a Proof-of-Stake (PoS) consensus mechanism. This means that people verify transactions and add blocks to the blockchain-based on how much STRAX they hold.
STRAX rewards the people who operate the computers, or nodes, which run the network. People can also buy, sell, and trade the coin on exchanges.
Once the recently announced update takes place, STRAX will be swapped for a new token, STRAT.
On October 12 2023, there were 154 million STRAX in circulation, representing the total supply.
It might do, but not for a long time. Both PricePrediction.net and DigitalCoinPrice say STRAX can reach double figures in 2031.
Keep in mind that Stratis has not been worth $10 since early 2018.
Not only that, but plans are in place to replace STRAX with a new token, STRAT.
Right now, the STRAX coin rewards users on the Stratis blockchain. People can also buy, sell, and trade it on exchanges.
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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 this information’s completeness, reliability and accuracy. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto user should research multiple viewpoints and be familiar with all local regulations before committing to an investment.