A lot of interesting things are happening in the world of cryptocurrency right now. It is evident the Stratis currency is rocketing up the charts. Less than a week ago, the coin surpassed the US$4 mark for the very first time. Today, one STRAT is worth over US$107. The currency is now in the top 8 and looks poised to overtake Dash very soon. The market cap is growing quickly, but can it sustain this growth?
Stratis Is On A Mission
Most people will be all too familiar with the Stratis project. The blockchain platform has gotten a lot of attention these past few months. Moreover, their ICO was quite successful, which resulted in a lot of funds being raised by the team. However, it now appears his fundraising was only the beginning for Stratis. The native STRAT currency is rocketing up the charts right now for some reason. That is good news for anyone who bought the coin during the crowdsale.
When the STRAT value first started going up, a lot of people assumed this was a mere pup. However, the momentum has kept things going for quite some time now. Spectacular price gains were made over the past week, and it appears things will not be slowing down anytime soon. With STRAT valued at nearly US$11 at the time of writing, the growth has been nothing short of amazing. Keep in mind one STRAT was worth just US$0.20 on April 1st of 2017.
This price increase can mainly be attributed to Poloniex driving the volume. Although STRAT can be traded across many different platforms, Poloniex is the go-to place. Bittrex is also bringing in over US$16. 5m worth of trading volume. This growth is rather strange, though, considering there are over 98 million STRAT in existence. However, the recently announced Master node program means users need to lock up a significant amount of coins. Assuming a lot of people did exactly that, this could explain the price surge.
In terms of market cap, Stratis now sits at US$1.08 billion. That means it has successfully overtaken both WAVES and Monero, and Dash is next on the list. At this rate, it is only a matter of time until STRAT surpasses Litecoin as well. This growth is quite spectacular, to say the least. We can only hope people who invest in STRAT will not get burnt by this momentum. Then again, the future of Stratis development looks quite solid, thus there is nothing to worry about just yet.
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