Status Price Prediction and Analysis: Mainnet test launch! Embark Framework to impact dApps and influence SNT price. Friday, June 1
Bitcoin's influence on the market
With 38.6% dominance rate, BTC still affects almost every other cryptocurrency. With any tiny price change the rest of the market reacts, whether its positive or negative. Currently, Bitcoin's price seems to stabilize or at least end the downwards run. It dropped today a little bit, however the general trend for now seems to be upwards. You can read a detailed Bitcoin Price Prediction and Analysis with cryptocurrency news overview to understand where the market is going.
Cryptocurrency Status News
Announcing Embark Framework
The developers have announced that the creation of Embark Framework which is a fast, simple and powerful tool to help in the development of Decentralized Applications. "Today, we are proud to announce that we are working with the creator of the Embark Framework, Iuri Matias, to launch Embark by Status. This is the second initiative under the Status Projects umbrella, after Status Incubate was launched on April 20th." They have noticed and recognized that Status, as a whole is becoming more and more advanced and with each feature and update is able to offer more to its users. "The Status app is is making great progress. The latest release, introduced a number of new and exciting DApps such as CryptoKitties, CrytpoCribs, Bancor and many more." To keep up the pace they are looking for more contributors. "As Status becomes more stable and widely used, we need talented developers taking their decentralized projects from proof-of-concept to production. Embark by Status makes this easy to do."
Mainnet test launched
The latest update is a significant milestone for the community and developers, as it includes a test of mainnet. Moreover, "Release 0.9.19 also comes with some amazing updates. We are introducing a great many updates to make our chat performance more stable and reliable, improvements to our the DApp browsing experience and increased overall wallet functionality around the way user accounts are generated." The changelog is very impressive and shows that the team is working very hard on the project.
SNT Price Analysis
Current region of $0.1 is a very familiar ground for Status, as the coin fluctuated around this mark quite often in its history. During the recent market value increase at the beginning of May, it managed to get above $0.17. The run was stopped by Bitcoin's failed attempt at reaching $9000 which brought the whole market down very drastically. However, the lowest SNT got was slightly above $0.08, which is a very good result. At the moment of writing this article, SNT is trading at $0.099.
SNT/USD Price Chart, Friday June 1st:
Of course, one shouldn't expect the token to get anywhere high, as its simply not designed for reaching $100 or so. However, it has already managed to get above $0.5 during ATHs, therefore it's a good target to achieve it once again, maybe this time without the market and bitcoin being pumped to extraordinary highs. Ideally, if the project keeps up the development pace the best price for the token would be around $1 in the long term. Which at the current exchange rate means 10x grow.
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