While the STX/USD pair has retreated nearly 3% in the past 24 hours, the token’s price as at 8.20 am ET on 28 February was $0.89, showing a 3.5% jump on the hourly time frame.Īnd with over 200% gains in the past 30 days, Stacks has quickly risen up the charts in terms of market cap (currently at over $1.2 billion and ranked 47th on CoinGecko.)

The native token STX is up more than 43% in the past week and tops the 100 largest cryptocurrencies by market cap in weekly performance. For those that want more programmable uses of $BTC, applications built on top of will provide what they seek. Ordinals have catalyzed a cultural shift in #Bitcoin that will work to $STX's benefit. As for now, market analysts say there’s a “cultural shift in Bitcoin”, and that sentiment might catalyse a huge move for STX. But more than that, analysts predict that the STX price could see another explosive move as Bitcoin’s halving, which is about a year away, approaches.īitcoin price has rallied going into the halving and this looks to be the trajectory STX will take. Stacks Network’s leveraging of Bitcoin’s blockchain security and permanence, the idea of Bitcoin NFTs and DeFi are factors helping position STX for more upside action. ⭐ Unlocking #Bitcoin Decentralized Finance, NFTs, BNS, and more /VoHnypE1dx ⭐ Settling transactions on the #Bitcoin blockchain ⭐ Enabling smart contracts and decentralized applications to trustlessly use $BTC as an asset The huge interest that greeted the Ordinals’ launch helped push the price of STX as demand for the layer 2 blockchain Stacks’ native token skyrocketed. Ordinals is a novel NFTs protocol that allows for the minting and storage of digital artifacts on the Bitcoin blockchain. The token’s price has in fact gained significant traction following the hype around the launch of the Ordinals project. The Stacks price has been rallying due to massive interest in Bitcoin-based NFTs and recently after the protocol released its whitepapers.

Stacks price: STX poised for BTC halving explosion? The native STX is higher by more than 43% on the week even as most tokens struggle with downward pressure. Stacks, the Bitcoin layer that leverages smart contracts to enable decentralised finance (DeFi) and non-fungible tokens ( NFTs) among other decentralized applications on the pioneer blockchain network, is currently one of the best performing assets in the market today.

Analysts say the upcoming Bitcoin halving could catalyse fresh rallies for the token.

STX rose to an all-time high of $3.39 in December 2021.

Stacks price has soared in the aftermath of interest in Bitcoin NFTs with the launch of Ordinals.

Stacks crypto price prediction