- Cartesi’s CTSI token has been in a strong comeback in 2023.
- The developers are working towards the mainnet launch.
- There is rising demand for layer-2 blockchains like Optimism and Polygon.
Cartesi price has been in a strong bullish trend in the past few months as demand for layer 2 networks jumped. The CTSI token soared to a high of $0.3564, the highest point since April last year. It has jumped by more than 165% above the lowest level in 2022, giving it a market cap of over $120 million.
Demand for layer 2 networks
A major theme that has happened in the crypto industry is the overall growth of layer-2 networks. A layer-2 blockchain is a sidechai that helps to scale other layer-1 blockchains. In most cases, these scaling platforms are used to scale Ethereum, the biggest smart chain in the world.
Layer 2 networks have grown and taken market share from popular layer 1 networks like Avalanche and Cronos. Some of the most popular layer 2 networks are Polygon, Arbitrum, and Optimism.
Cartesis is another layer-2 network that makes it possible for developers to build blockchain and off-chain dApps. Off-chain components run in Cartesi nodes that represent the interests of each decentralized application. Cartesi is also known for running application-specific rollups with a linux runtime.
The main reason why Cartesi price is soaring is that investors believe that it could become the next big thing in the layer-2 industry. Another reason is that the developers are currently running a promotion that will reward developers of Cartesi dApps with $15,000.
The other main reason is that Cartesi is about to go mainnet. In a recent statement, the developers reiterated that the mainnet will launch soon. They also noted that Cartesi’s rollups will be mainnet ready during the launch of Honeypot. A lot has been achieved, with the next stage being the test of securing real assets in the ecosystem.
Cartesi price prediction
The daily chart shows that the CTSI crypto price has been bullish in the past few months. As it rose, the token managed to move above the important resistance point at $0.2047, the highest point on February 24. Cartesi has jumped above all moving averages and the 23.6% retracement level.
Therefore, because of the rising demand for layer-2 blockchains, there is a likelihood that the uptrend will continue in the coming weeks. If this happens, the next key level to watch will be at $0.4400, which is about 80% above the current level. A drop below the support at $0.2050 will invalidate the bullish view.
