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Stratis is defying the odds in the current bear market as it has a relatively bullish growth momentum where it rose by more than 121% over the past week. Bear markets are generally unfair to tokens with a lower level of adoption or a less diverse community and ecosystem.
Stratis is a blockchain-as-a-service platform that offers several products and services for enterprises, including launching private sidechains, running full nodes, developing and deploying smart contracts, an initial coin offering platform, and a proof-of-identity application. Paraded as a blockchain consulting services provider, Stratis has now chosen to step up its reach, a move that is fueling enthusiasm amongst its investors across the board.
What Is Stratis Up To?
The blockchain protocol has announced its plans to launch a very functional metaverse called the Sky Dream Mall. This metaverse will be powered by the Stratis blockchain network.
Sky Dream Mall, a metaverse powered by Stratis Blockchain Coming soon! #metaverse #metaverseland #nftcommunity #nftartwork #vaperwave #stratis #Cryptocurency
.@StratisphereNFT .@stratisplatform .@Stratis_Faction pic.twitter.com/TpmhGDpKvz
— My XR World (@MyXRWorld) June 25, 2022
The idea of a metaverse is undoubtedly a very big boost that can drive embrace amongst Stratis users and even those not previously familiar with the project. While a few people focus on utility, which this metaverse will provide, a whole lot more are interested in the earning potential of an investment in the metaverse.
Most Layer-1 and Layer-2 blockchain protocols that have an active metaverse being built on them have a track record of printing a very high return for investors, particularly for the inaugural projects. With Sky Dream Mall, Stratis is positioning itself as a big player that will be relevant in the emerging Web3.0 world, a development that cannot slip by investors.
The team behind the blockchain protocol has also revealed their plans to launch a stablecoin whose reserve will be dominated by Great British Pound (GBP). Stablecoins are becoming a very welcome digital financial innovation, one that many regulators are looking to provide good regulatory backing for.
Should Stratis eventually float the stablecoin, it will rank among the few stablecoin issuers with a token built with the GBPT. Besides driving massive use cases in both the crypto trading world and the mainstream financial sector, the proposed GBPT will also make the Stratis protocol a go-to platform for all.
Additionally, Stratis has been advancing its reach to power blockchain education around the world, with its activities in Uganda very prominent. The Stratis Network recently inked a deal with the foundation of King Oyo, the current Monarch of Tooro Kingdom in Uganda to build an innovation hub in the country.
The foundations for the innovation hub had already been laid per an update shared back in May.
The foundations have been laid for the Stratis blockchain innovation center in Uganda as part of the Stratis global expansion.#blockchain #dotnet #Stratis $STRAX pic.twitter.com/nIBl0IEsBk
— Stratisplatform (@stratisplatform) May 24, 2022
Prospects of the Stratis (STRAX) Coin
While the STRAX coin has seen its price correct by 13.99% over the past 24 hours to $0.9792, the coin is by no means less attractive with all of the utilities being built around it at the moment.
The digital currency is still relatively cheap, and should the team continue to build value around it, more investors including retail and corporate buyers will continue to stack up on it in the near term. This is very good for its future growth.