STRAX had a strong run in October. So much so that it outperformed the market’s leading cryptocurrencies, BTC, ETH and BNB. Altcoin continues to dazzle with its daily increase.
STRAX outpaces BTC, ETH and BNB in growth
The market’s leading cryptocurrencies such as Bitcoin, Ethereum and Binance Coin have begun to stall in their rise. They represent slightly negative growth with low earnings on their daily charts. Therefore, trends to return to bearish areas have emerged. Therefore, the potential bullish trend for large-cap cryptocurrencies has reversed for now. In such an environment, Stratis’ native token, STRAX, has taken the crypto community by storm. According to CoinMarketCap data, STRAX made a significant upward rally during the day. The altcoin price made a vertical rise during the day.
In line with this, its seven-day cumulative performance has now increased significantly by 75%. Additionally, market players traded over $139 million in STRAX tokens in the last 24 hours. This represents an increase of approximately 150% from the figure obtained the previous day. STRAX’s chart shows that it may be poised for further gains as the altcoin price trajectory moves upwards.
What’s in the technical picture of altcoin price?
Interestingly, STRAX has been up significantly for most of the year. Additionally, the overall market has held firm while remaining dominated by bears. As an example, the 30-day market performance indicates a significant increase of over 122.60%. This means STRAX rose from around $0.4728 to $1.08 earlier this month. This is a feat that most of the top ten cryptocurrencies have not been able to achieve in just a few months.
Additionally, data from CoinMarketCap reveals that STRAX’s annual growth trajectory has increased by 102.26%. In comparison, the leading altcoin Ethereum (ETH) has gained only 13.63% since last year. On the other hand, Binance Coin (BNB) dropped by over 226.88% from $326 to $202.2 in the same period. Meanwhile, Bitcoin is up nearly 60% since last year.
What is Stratis (STRAX)?
Chris Trew founded Stratis Group Ltd., the company behind the Stratis platform, in 2016. Trew aimed to develop an enterprise-focused Blockchain platform, which he felt was missing in the industry at the time. He decided to base the platform on the Bitcoin (BTC) protocol, believing that Bitcoin would become dominant in the crypto space, meaning that the code base would be continually improved over time.
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