Stacks (STX) price rally by 65%

Stacks (STX), the native token of the Bitcoin layer 2 Stacks Network, managed to stand out today after making spectacular gains over the past 24 hours. STX has been in a steady uptrend for the past four weeks. Therefore, if the level 2 blockchain token successfully conquers the $0.70 resistance, there will only be a few resistance levels left before reaching $1.0.

The price of STX has increased due to the new Ordinals protocols. It is a new protocol that allows NFTs to be stored on the Bitcoin blockchain.

Stack Baggage (STX) inputs.

Over the past two weeks, Stacks has seen a huge price increase, but today, the altcoin exploded and rose 66.84%. In doing so, the coin hit a local high of $0.6831. However, the uptrend of the last 30 days combined with the cues from the broader market is the real reason behind this rise.

Source – CoinMarketCap

According to data from cryptocurrency market tracker CoinMarketCap, STX has seen a rally since the start of this year after successfully scoring a bullish crossover the previous day. Over the past four weeks, the token has risen nearly 120%, placing it among the top performing cryptocurrencies so far.

Trading volume increases by 500%

Stacks (STX) is currently ranked the 52nd largest digital asset by market capitalization, but at $0.6831 it is having one of the best days of the top 100 cryptocurrencies. Thus, the allure of Stacks led to a significant uptick in activity from investors as well. And the altcoin saw a nearly 500% increase in 24-hour trading volume, with Binance, Coinbase and Kucoin hosting the majority of those trades.

With a market cap of $929,658,327 and a 24-hour trading volume up 497.62%, STX stands at $830,635,783. At the same time, the circulating supply is approximately 1,360,897,676 STX, according to CMC.

Also Read: Crypto Is ‘Dangerous’ And Akin To Gambling, Says World Wide Web Inventor

CoinGape consists of an experienced team of native content writers and editors who work around the clock to cover news worldwide and present the news as fact, not opinion. CoinGape writers and reporters contributed to this article.

The content presented may include the personal opinion of the author and is subject to terms of purchase. Do your market research before investing in cryptocurrencies. The author or publication bears no responsibility for your personal financial loss.

Leave a Comment