We don’t see too much cryptocurrency market activity in the top 10, other than altcoins going in the deep red. That doesn’t mean the other currencies aren’t worth paying attention to either, though. The Stratis price, for example, is approaching the $10 mark for the second time in history. That is remarkable growth, considering the Bitcoin price is destroying all previous records. At this rate, it is only a matter of time until we see a new All-time high Stratis price.
Massive Gains for the Stratis Price
Whenever Bitcoin is obliterating altcoins, it is only a matter of time until one currency bucks the trend successfully. So far, no coin in the top is making any positive impact in this regard, but the 19th largest currency by market cap is a different story altogether. In fact, it is the only currency noting any solid gains in both USD and BTC value right now. Most of the top 20 coins by market cap are in the red, and some of them even in double digits.
Most people will have heard of Stratis by now, even though few people seemingly talk about it. This cryptocurrency has made somewhat of a name for itself thanks to the strong focus on privacy and anonymity for both STRAT and Bitcoin transactions. Their Breeze Wallet is inching closer to finally being released. Whether or not it will be a major success, has yet to be determined at this stage. However, it opens up a lot of interesting opportunities for the support currencies in this regard.
Things have been relatively quiet on the Stratis price point these past few months. After the altcoin peaked above $12 for the first time in June of 2017, the price quickly dropped back to $2.5 in the following weeks. Two attempts to surpass $7.50 were rejected fairly quickly, and the price struggled to stay above $2.75 until very recently. Momentum picked up in November again and is now going through a very bullish mode. With a Stratis price of $9.94, it is only a matter of time until the value is pushed back down, though.
Additionally, Stratis has pretty solid trading volume compared to some other currencies right now. With over $128.7m worth of volume in the past 24 hours, things aren’t looking all that bad. One has to keep in mind altcoins are not popular markets right now, especially not when the Bitcoin price is pushing toward that $20k mark. Despite the odds, the Stratis price gained 42.66% in USD value and 21.71% in BTC value.
Given the lack of fiat currency gateways for Stratis right now, it’s not surprising to see Bittrex is the leading cryptocurrency exchange for this altcoin. This further confirms we are looking at a pump-and-dump cycle for this currency right now, although nothing has been set in stone just yet. With most of the volume coming from Bitcoin and Ethereum trading markets, it is highly unlikely any major price shifts will occur in the days to come.
It is remarkable how some coins succeed in gaining value due to some minor momentum, whereas the established currencies struggle right now. There is plenty of price manipulation across all cryptocurrency markets. The Stratis price is no exception in this regard, as there is nothing organic about this growth whatsoever. Cryptocurrency is a good way to make a lot of money, but one needs to take profits accordingly as well.
About The Author
JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.