The Status Network Token commonly known as Status (SNT), is a very unique altcoin that is making quite a scene in the cryptocurrency market. It is based in Singapore with two main functions; a messaging platform and a mobile Ether OS.
Launched after an ICO in June 2017 and raised over $100 million in a short period of 3 hours. It was designed as a mobile browser for its clients and users to gain access to Ethereum network as well as other decentralized apps. With status, users can transact in Ether locally whether buying or selling of Ether. Also users can exchange goods and services that are built with decentralized apps.
Ideally, status (SNT) is an open source kind of messaging platform as well as a mobile browser where its users get to interact with decentralised apps running on the Ethereum Network. Users get to own and control their personal data, digital identity and wealth. Its idea was to be part of a decentralized economy whereby ideas, services and currencies are easily and freely transferred with users maintaining their identity.
Its availability is both for Android and iOS as an Alpha app. Here anyone willing to place their decentralized apps on the status platform can do so. Some of the decentralized apps already running include a freelancing site known as Ethlance as well as Gnosis which is a crowd-sourced wisdom platform.
Claiming the 34th position on the list of top cryptocurrencies on coinranking.com, Status has been having such a rigorous turn of events with the year 2018. From hitting its all high of $0.65 to having an increased trading volume in its last 24 hours, January has been such an eventful month for Status.
Currently trading at $0.30, status is yet to receive more recognition from traders due to its ease of use and convenience. Considering that it is 5 months old, it is doing better than most other cryptocurrencies that were in place earlier than it. A keen look at its graph might be disappointing, considering that it has fallen from its all-time high to its current position by 50% with less than two and a half weeks, it still has signs of recovery with the current internet buzz of the many decentralized apps coming along.
So, what is the future for Status (SNT)?
It is still very early to pinpoint exactly what the future holds for STN considering how young it has been in the market. But considering its great presence and dominance as it is, there is great future within the next coming months with an expected all time high likely to hit again.