Stratis - Layer 1 sleeping giant - potential x80
Updated
Stratis is a potential rival to other Layer 1 Smart Contract blockchains.
It offers C# and .NET Microsoft developers access to a blockchain ecosystem through familiar languages used to construct scalable and secure (fully deterministic) smart contracts. Stratis has industry rich application ranging from but not limited to BaaS, blockchain as a service, GameFi, NFT and DeFi and cross chain Ethereum interoperability.
Technical analysis:
We have had a multi year accuuuuuumulation.
BTC is primed to enter its 5th wave through 2022 and mid 2023 dragging all alts up with it.
While most alts will be dragged upwards in terms of market capitalization, only those with strong technicals (barring hyped meme coins) will outpace global crypto market growth. As Stratis is well placed technically, it will likely outpace global crypto market growth on account of releases and subsequent adoption. This is especially likely given Stratis’ small market cap of ~200mm which relative to the multi-billion market capitalizations of other Layer 1 blockchains, suggests a strong R/R opportunity.
We have a tightening of the 20-50-100 MA, a hidden bull divergence on both the RSI and Stoch RSI. Further, the MACD is also beginning to flatten out (I do not have TV premium so I cannot add more signals).
In conjunction with the strong fundamentals, the break of the wedge will likely be a bullish move.
However, there is still the possibility for sideways action until June 2022 suggested by the bearish space in the wedge. This becomes more apparent on lower time frames. Depending on BTC movement, bearish divergences could still occur on Stratis. However, I doubt Stratis moves lower than $1.10-1.20.
Ultimate target by 2024 is ~100. This is around ~x80 at current prices.
Completed fundamentals/features:
Stratis gaming - UNITY 3D SDK & Unreal Engine SDK – DONE.
Scalable C# Smart contracts – DONE.
Scalable Sidechains/STO – DONE.
Eth interoperability with Interflux – DONE.
wStrax on UniSwap – DONE.
Masternodes - growing adoption – GUI management system - DONE.
Python SDK – DONE.
Cirrus sidechain – DONE.
Exchange listing/s - both strax and Cirrus token– DONE.
20MM funding from VC firm Alphabit in 2020 – DONE.
Stratis Academy - clear documentation for developers – DONE.
C# Corner (education platform) partnership with Stratis – DONE.
Launch of Stratis R&D center in collaboration with the C# Corner and the GL Bajaj Institute of Technology & Management – DONE.
Hot Staking rewards – DONE.
Cold Storage rewards – DONE.
SegWit – DONE.
Enterprise Consulting with Digital Identity, Supply Trust, Distributed Ledger Technology, Unity Gaming SDK and Securitized Token Offering, solutions – DONE.
Forthcoming fundamentals/releases:
Opdex (DeFi protocol) – World’s first in C# with the .NET CLR -January release.
Stratispherenft (NFT platform) – Non-profit, 0 fee structure - January Release.
Hashbattle (GameFi) - 'Uses Stratis technologies to introduce rewards and an in-game economy, with Hashbattle’s MVP due for launch' - January release.
CoinVault (similar to MetaMask) - In development.
FireProtected (web 3.0) - 'FileProtected uses blockchain, timestamps, and digital fingerprints to solidify copyright ownership' - In development.
Red Ego Games (GameFi) - Dawn of Ships 'An RPG...tak[ing] the meaning of “play to earn” to a new level by allowing players to earn NFTs that can be sold' - In development.
Kiqqi Games (GameFi) - Trivial Legends - 'Knowledge is the player’s weapon of choice in Trivial Legends, as players use their NFT avatars to win trivia battles and unlock more NFTs.' - In development.
Polycarbongames (VR NFT Gallery) - 'Metaverse NFT and VR gallery that allows users to interact with each other and with NFT items that they can exhibit and trade across the Stratisphere NFT marketplace' – In development.
Ongoing, in development fundamentals:
Release of above in development projects.
Continued DAO funding of projects through Stratis Decentralized Accelerator.
Ongoing hackathons.
Ongoing learning content and certifications in collaboration with C# Corner.
Ongoing marketing strategy.
Ongoing Enterprise solutions eg Onboarding and compliance solutions.
Project Titanium which will offer direct support for contracts deployed on the Ethereum 2.
Continued to scalability to work towards infinite scalability.
• Cease Fixed mining timeslots ‘ensuring that IDGB Members can produce blocks competitively, opposed to within given timeslots’
Ongoing development of Python SDK (pyStratis) and JavaScript SDK (bitcore-strax).
Federation multisig staking - staked rewards distributed trustlessly to participating InterFlux MultiSig members.
Cold storage staking for IDGB Members.
Sources: Stratis platform website under their ‘news’ section.
THANK YOU FOR READING.
GOOD LUCK AND DO YOUR OWN DUE DILLIGENCE
It offers C# and .NET Microsoft developers access to a blockchain ecosystem through familiar languages used to construct scalable and secure (fully deterministic) smart contracts. Stratis has industry rich application ranging from but not limited to BaaS, blockchain as a service, GameFi, NFT and DeFi and cross chain Ethereum interoperability.
Technical analysis:
We have had a multi year accuuuuuumulation.
BTC is primed to enter its 5th wave through 2022 and mid 2023 dragging all alts up with it.
While most alts will be dragged upwards in terms of market capitalization, only those with strong technicals (barring hyped meme coins) will outpace global crypto market growth. As Stratis is well placed technically, it will likely outpace global crypto market growth on account of releases and subsequent adoption. This is especially likely given Stratis’ small market cap of ~200mm which relative to the multi-billion market capitalizations of other Layer 1 blockchains, suggests a strong R/R opportunity.
We have a tightening of the 20-50-100 MA, a hidden bull divergence on both the RSI and Stoch RSI. Further, the MACD is also beginning to flatten out (I do not have TV premium so I cannot add more signals).
In conjunction with the strong fundamentals, the break of the wedge will likely be a bullish move.
However, there is still the possibility for sideways action until June 2022 suggested by the bearish space in the wedge. This becomes more apparent on lower time frames. Depending on BTC movement, bearish divergences could still occur on Stratis. However, I doubt Stratis moves lower than $1.10-1.20.
Ultimate target by 2024 is ~100. This is around ~x80 at current prices.
Completed fundamentals/features:
Stratis gaming - UNITY 3D SDK & Unreal Engine SDK – DONE.
Scalable C# Smart contracts – DONE.
Scalable Sidechains/STO – DONE.
Eth interoperability with Interflux – DONE.
wStrax on UniSwap – DONE.
Masternodes - growing adoption – GUI management system - DONE.
Python SDK – DONE.
Cirrus sidechain – DONE.
Exchange listing/s - both strax and Cirrus token– DONE.
20MM funding from VC firm Alphabit in 2020 – DONE.
Stratis Academy - clear documentation for developers – DONE.
C# Corner (education platform) partnership with Stratis – DONE.
Launch of Stratis R&D center in collaboration with the C# Corner and the GL Bajaj Institute of Technology & Management – DONE.
Hot Staking rewards – DONE.
Cold Storage rewards – DONE.
SegWit – DONE.
Enterprise Consulting with Digital Identity, Supply Trust, Distributed Ledger Technology, Unity Gaming SDK and Securitized Token Offering, solutions – DONE.
Forthcoming fundamentals/releases:
Opdex (DeFi protocol) – World’s first in C# with the .NET CLR -January release.
Stratispherenft (NFT platform) – Non-profit, 0 fee structure - January Release.
Hashbattle (GameFi) - 'Uses Stratis technologies to introduce rewards and an in-game economy, with Hashbattle’s MVP due for launch' - January release.
CoinVault (similar to MetaMask) - In development.
FireProtected (web 3.0) - 'FileProtected uses blockchain, timestamps, and digital fingerprints to solidify copyright ownership' - In development.
Red Ego Games (GameFi) - Dawn of Ships 'An RPG...tak[ing] the meaning of “play to earn” to a new level by allowing players to earn NFTs that can be sold' - In development.
Kiqqi Games (GameFi) - Trivial Legends - 'Knowledge is the player’s weapon of choice in Trivial Legends, as players use their NFT avatars to win trivia battles and unlock more NFTs.' - In development.
Polycarbongames (VR NFT Gallery) - 'Metaverse NFT and VR gallery that allows users to interact with each other and with NFT items that they can exhibit and trade across the Stratisphere NFT marketplace' – In development.
Ongoing, in development fundamentals:
Release of above in development projects.
Continued DAO funding of projects through Stratis Decentralized Accelerator.
Ongoing hackathons.
Ongoing learning content and certifications in collaboration with C# Corner.
Ongoing marketing strategy.
Ongoing Enterprise solutions eg Onboarding and compliance solutions.
Project Titanium which will offer direct support for contracts deployed on the Ethereum 2.
Continued to scalability to work towards infinite scalability.
• Cease Fixed mining timeslots ‘ensuring that IDGB Members can produce blocks competitively, opposed to within given timeslots’
Ongoing development of Python SDK (pyStratis) and JavaScript SDK (bitcore-strax).
Federation multisig staking - staked rewards distributed trustlessly to participating InterFlux MultiSig members.
Cold storage staking for IDGB Members.
Sources: Stratis platform website under their ‘news’ section.
THANK YOU FOR READING.
GOOD LUCK AND DO YOUR OWN DUE DILLIGENCE
Trade active
To clarify, targets are:~$2.5 April 2022
~$30 March 2023
~$100 March 2024
Trade active
BTC seems to be swamped in bearish momentum, dragging the global market cap downwards, affecting Stratis' price action. We have touched the 100W MA and may now potentially break the wedge to the downside. We will closely monitor whether the weekly closes below previous weekly support.
This is somewhat likely given BTC potential sideways action. The likelihood of bearish STRAX price action will become clearer if BTC has a sustained move under 40k where we will seek 100W support at ~33k if not price action support at 38k.
In summary:
Bearish target sub $1
Super bearish target $.4
We will monitor Stratis price action to see if the 100W MA, wedge, price action, longer time frame bullish divergences fail to create bullish momentum.
Trade active
Anticipation of March Fed hikes temporarily spooked main indices which remain bearish. While this had reverberating effects on crypto markets, as major and minor players alike derisked, btc and many alts such as a Strax have regained their USD loses from January. This momentary bearish momentum may have invalidated my short term ~$2 April call. However, we still have another 30 days yet. So lets see...On chain metrics on BTC have begun to turn bullish and this has had positive effects of on major and minor alts.
Concern: Many banks are forecasting further rate hikes (2-9 ) for this year which may cause a 30-50% crash on major indices over the next year and a stagnant market for ensuing 5-7 years - or until FED resume mass printing.
If hikes are this frequent, I expect crypto to lead bearish momentum by 20-40% but eventually break off from the bearish correlation with major indices.
A global market cap of 10-30 billion is in play for the next 1-3 years.
This will be a driving force towards a $20-30 target for Strax by March 2023 and $100 by 2024.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.