CTSI surges over 65% in a week as rollup update approaches

According to CryptoSlate data, the Cartesi (CTSI) token recorded a 68.56% increase over the past seven days following the project’s update announcement published on April 11.

According to the Cartesi Ecosystem Update 2023, the  Cartesi Rollups are fast approaching the mainnet deployment stage.

The surge

The CTSI token was traded for around $0.1532 on April 11, when the update announcement was published. On April 20, the CTSI price increased as high as $0.3341 — marking a 118% increase in nine days.

CTSI price charted an upwards trajectory up until April 21. However, CryptoSlate data indicates that the token lost 10.86% of its value in the last 24 hours. Regardless of the fall, the current CTSI price reflects an 82% increase over the last 30 days.

Cartesi rollups

Cartesi is essentially a layer-2 scaling solution that allows developers to build dApps that operate across multiple chains. It supports Linux and other mainstream software components while allowing builders to deploy application-specific rollups as layer-2 on top of Ethereum (ETH) — or as layer-3 on other chains.

The announcement post explains the difference by stating:

“…Cartesi Rollups is an application-specific execution environment that can be deployed as layer 2 or layer 3; it’s not a layer 1 blockchain or DApp, which means that the traditional concept of a “mainnet launch” for Cartesi differs from many other blockchain projects. What will actually go to mainnet are DApps built using Cartesi.”

The mainnet launch is by deploying the first Cartesi-powered dApp Honeypot on the ETH mainnet. The Honeypot dApp is designed to hold real assets to both “setting a financial benchmark for secure asset management and providing a gamified battlefield for the community to help audit and test Cartesi’s cutting-edge technology.”

The announcement post states that launching the Honeypot to the mainnet will “mark the beginning of a new era” for Cartesi as it will test and fortify Cartesi’s tech and security. With that being said, the Cartesi team didn’t disclose a specific date for the Honeypot’s deployment.

The post CTSI surges over 65% in a week as rollup update approaches appeared first on CryptoSlate.

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