Here’s Why This Token Is Up 136% in 9 Days

Cartesi Token (CTSI) is up 68.56% in the past 7 days following the project update announcement on April 11.

According to the Cartesi Ecosystem Update 2023, Cartesi Rollup is rapidly approaching the mainnet launch phase.

Token Price Rise

CTSI was trading around $0.148 when the April 11 update was published. On April 21, the CTSI price rose to $0.35, an increase of 136% in nine days.

Source: TradingView

CTSI prices were in an uptrend until April 21st. However, the token has lost more than 7% of its value in the past 24 hours. Despite the decline, the current CTSI price has gained 78.8% in the past 30 days.

Cartesi is essentially a layer 2 scaling solution that allows developers to build dApps that work across multiple chains. It supports Linux and other mainstream software components, and allows builders to deploy application-specific rollups as Layer 2 on Ethereum — or Layer 3 on other chains.

The announcement post explains the difference by stating:

“…Cartesi Rollup is an application-specific execution environment that can be deployed at layer 2 or layer 3; it is not a blockchain or layer 1 DApp, which means that Cartesi’s traditional concept of “mainnet launch” Unlike many other blockchain projects. It is the DApps built with Cartesi that are really going to the mainnet.”

The mainnet launch is the first implementation of a Cartesi-powered honeypot dApp on the ETH mainnet. Honeypot’s dApp is designed to hold real assets, both to “set the financial standard for safe asset management, and to provide a gamified battlefield for the community to help test and test the cutting-edge technology of Volkswagen Cartesi.”

The announcement post states that launching the honeypot onto mainnet will “mark the beginning of a new era for Cartesi,” as it tests and strengthens Cartesi’s technology and security. The Cartesi team did not reveal a specific date for the honeypot rollout.

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According to Cryptoslate

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