Stacks (STX) Sees Trading Volume Surge by 36% as It Aims for $2 Mark
Stacks (STX), a Bitcoin layer for smart contracts, has experienced a significant increase in trading volume, with a jump of 36%. Currently trading at $1.86, Stacks is now aiming to reach the coveted $2 mark. The coin’s market capitalization has also seen a notable uptick, rising by 4% to $2.6 billion within the last 24 hours.
Stacks Recent Performance
In recent trading sessions, STX has emerged as a standout performer in the crypto space. Its trading volume has increased by 36%, reaching $166.6 million in 24 hours. This surge can be attributed to various factors, including the coin’s price breaking through a resistance trendline and the rapid development of the Stacks ecosystem.
Stacks Upcoming Nakamoto Upgrade
An important event on the horizon for Stacks is the anticipated Nakamoto upgrade mainnet launch, which is expected to take place around April 15th. This upgrade holds the promise of faster upgrades for Bitcoin rails and facilitating the decentralized movement of Bitcoin between Layer 2 ecosystems. These developments are viewed as milestones for Stacks and could drive further growth.
Cosmo Jiang, PM at Pantera Capital, believes that Stacks is well-positioned to seize this moment as it will be the only smart contract blockchain secured by Bitcoin finality post-Nakamoto upgrade.
Although Stacks’ price has seen remarkable growth recently, it has yet to surpass its all-time high price of $3.31. However, with its current supply and inflation rate, Stacks remains poised for future growth and adoption.
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