Cartesi CTSI/USD remains under pressure; the price of this cryptocurrency fell from $1.27 to $0.49 since 9th August 2021, and the current price stands around $0.67.
There is still a level of uncertainty
Cartesi is a layer-2 platform that allows developers to code smart contracts and DApps directly with mainstream software components and Linux OS resources. Limitless coding, massive scalability, and privacy are the main characteristic of this platform while preserving the strong security guarantees of Ethereum.
DApps running only on smart contracts face severe constraints on the amount of data they can manipulate, while DApps running on Cartesi can process virtually unlimited amounts of data.
Cartesi DApps are composed of blockchain and off-chain components, and it is important to mention that off-chain components run under a complete Linux operating system that provides the full ecosystem required by complex computations.
Developers are able to create from simple to rather complex smart contracts by using all the programming languages, tools, libraries, software, and services on Cartesi.
Cartesi was founded in 2018 by Augusto Teixeira, Erick de Moura, Augusto Teixeira and Colin Steil and it is important to mention that Serguei Popov, the founder of IOTA, became one of Cartesi’s earliest investors. Serguei Popov said:
The Cartesi team realized they were tapping into a broader scope, and the project evolved into developing a versatile layer-2 Linux infrastructure to overcome the problems of scalability, computation, and infrastructure for blockchain applications.
CTSI is a utility token that powers the Cartesi network by solving blockchain scalability and high fees using a technology called Optimistic Rollups. The CTSI token is currently available on many exchanges, and investors can also buy CTSI via the Revolut app.
Fundamentally looking, there is still uncertainty surrounding this project, and its success mainly depends on its strategy to expand its market influence.
Technically looking, Cartesi (CTSI) remains under pressure, and if you decide to buy this cryptocurrency at the current price, you should use a “stop-loss” order because the risk remains high.
Bears in control of CTSI
Cartesi (CTSI) has collapsed from its recent highs above $1.20, and it may take a long time for prices to see any bigger recovery. The risk of further declines is still not over, the critical support level stands at $0.50, and if the price breaks it again, the next price target could be at $0.40.
On the other side, if the price jumps again above $1 resistance, we have the open way to $1.20.
Summary
Cartesi is a layer-2 platform that allows developers to code their smart contracts and DApps from simple to rather complex variations. Technically looking, Cartesi (CTSI) remains under pressure, and the risk of further declines is still not over.
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from Market Analysis – Invezz
