Cartesi CTSI/USD has weakened from $1.74 below $0.70 since November 11, and the current price stands at $0.73.
The cryptocurrency market is advancing this Monday, Bitcoin went above $49000, but according to rules of technical analysis, Cartesi (CTSI) remains in a bear market.
Partnership with IoTeXCartesi is a layer-2 platform that allows developers to code smart contracts and DApps directly with mainstream software components and Linux OS resources.
Cartesi was founded in 2018 by Augusto Teixeira, Erick de Moura, Augusto Teixeira, and Colin Steil. According to the team that stands behind this project, it only has room to grow.
Massive scalability, limitless coding, and privacy are some of the main features of this platform while preserving the strong security guarantees of Ethereum.
Cartesi DApps are composed of both blockchain and off-chain components, and according to the official website, DApps running on Cartesi can process virtually unlimited amounts of data.
This is very important for developers because DApps running only on smart contracts face severe constraints on the amount of data they can manipulate.
Cartesi’s mission is to help DApp developers build more compelling products to their clients, and with Cartesi, developers are able to create from simple to rather complex smart contracts.
Cartesi is continuously working on new features and options, which are very important for expanding its ecosystem.
Many projects already collaborate with Cartesi, and according to the latest news, Cartesi has partnered with IoTeX, the multiple award-winning blockchain for the Internet of Things (IoT). The team of Cartesi added:
Through our partnership, we want to bring our communities of developers up to speed on the potential of our combined technologies. Together with our technology, we will be able to address much more sophisticated IoT-oriented solutions.
CTSI is a utility token that powers the Cartesi network by solving blockchain scalability and high fees using a technology called Optimistic Rollups.
Serguei Popov, the founder of IOTA, became one of Cartesi’s earliest investors but fundamentally looking, there is still uncertainty surrounding this project.
The popularity of this platform is rising; still, the success of Cartesi mainly depends on its strategy to expand its market influence even more.
Bears in control of CTSICTSI is currently down more than 50% from its recent highs registered in November, and the risk of further decline still persists.
Data source: tradingview.com Cartesi (CTSI) remains in a bear market, and if the price falls below $0.60 support, the next price target could be around $0.50 or even below.
The strong resistance level stands at $1, and if the price jumps above this level, it would be a “buy” signal, and we have the open way to the $1.20.
SummaryCartesi’s mission is to help DApp developers build more compelling products to their clients, and according to the latest news, Cartesi has partnered with IoTeX, the multiple award-winning blockchain for the Internet of Things (IoT). Cartesi (CTSI) remains in a bear market, and if the price falls below $0.60 support, the next price target could be around $0.50 or even below.
The post Should I buy Cartesi (CTSI) in December 2021? appeared first on Invezz.
