The STRAX token from Stratis is up about 10% today.
The Bank of Spain grants a VASP license to the blockchain developer.
Binance pushes the token’s surge by providing more support.
In a major wave of changes in the world of cryptocurrencies, the blockchain development platform Stratis just obtained a VASP license in Spain, taking its cryptographic endeavor one step closer to success. This action by the blockchain developer demonstrated the company’s commitment to adhering to international regulatory standards. It coincided with the unexpected increase in the need for smooth regulatory controls throughout the global cryptocurrency market.
STRAX, the platform’s native token, saw notable increases over the previous day in tandem with the news that Stratis had secured a VASP license. This mirrored a sense of hysteria among cryptocurrency market traders and investors worldwide. STRAX garnered notable notice with its surge within the current market volatility, succeeded by another fascinating story.
The Bank of Spain grants Stratis VASP.
Today, March 28, the blockchain developer on X announced that Stratis had received a VASP license from the Bank of Spain. Stratis has entered Spain’s VASP registry with the record mentioned earlier, joining the ranks of prominent exchanges like Binance, Crypto.com, and Coinbase, even though further information around the license’s acquisition was kept confidential.
Announcement:
Stratis has obtained a Virtual Asset Services Provider (VASP) registration from the Bank of Spain. Joining top companies like Binance, Crypto. com and Coinbase on Spain’s VASP registry.
More details to follow in the coming days. pic.twitter.com/IxKIQp1yKe
— Stratisplatform (@stratisplatform) March 28, 2024
The developer’s native currency, STRAX, is among the top altcoins that could surge in value during the Bitcoin halving period, as previously noted by CoinGape Media. This encourages hope, and today’s increase adds to the bullishness surrounding cryptocurrency.
Binance Expands Assistance
However, in a noteworthy development involving STRAX, Binance—the top cryptocurrency exchange globally—completed the redenomination and swap of the Stratis coin. Deposits and withdrawals for the tokens are now possible as a result.
Spot trading for STRAX/BTC, STRAX/USDT, and STRAX/TRY began at 8:00 UTC today, demonstrating Binance’s endeavors to broaden the token’s support. This and the previously described development were the combined cause of STRAX’s incredible comeback.
To boost investor confidence in the token, Binance also announced that STRAX will be available on Binance Loans as of tomorrow, March 29, at 8:00 UTC.
Price Rallies for Stratis
As of this writing, the price of the Stratis token has increased by a significant 10.32% over the last day to trade at $0.1612. With a 10.56% increase in market capitalization and a startling 352.08% increase in trading volume in a single day, the STRAX token created a bullish knock-on impact on the cryptocurrency market.
The main drivers of today’s price increase were the token’s recent acquisition of a VASP license from the Bank of Spain and Binance’s restart of STRAX-related activities. Globally, advocates for the cryptocurrency industry became intrigued by this phenomenon.
