Stacks

Bitcoin

mirror

In the ongoing bull run, Stacks (STX), the native token of the Stacks blockchain focused on smart contracts for Bitcoin, has experienced significant upside momentum in the past few days. On February 15, 2024, <a href="https://news.todayq.com/sei-and-stx-gain-over-14-becomes-top-gainers/" rel="noopener noreferrer nofollow">Stacks (STX)</a> saw over a 10% increase, and the primary reason behind this continuous upside momentum is attributed to Bitcoin’s recent price surge. What is Stacks? 
Stacks is a special layer built on top of Bitcoin that allows for smart contracts, which are like self-executing agreements. This allows for unexplored uses of Bitcoin in decentralized apps. With Stacks, approximately $500 billion worth of Bitcoin can be utilized in these applications.
Stacks utilizes Proof of Transfer and a language called Clarity to connect with Bitcoin’s main system, facilitating easy access to information whenever required. Any action on Stacks, such as a transaction, is automatically recorded and verified on the main Bitcoin system, adding an extra layer of security due to its dependence on Bitcoin’s robust network of computers. Why STX price is increasing? 
As of now, STX is trading near $2.62, and in the last 24 hours, it has experienced over a 10% upside momentum. Examining STX over a more extended period, in the last 7 days, it has witnessed over a 50% upside momentum, while in the last 30 days, the STX price has surged by over 60%.
In addition to STX’s impressive performance, according to Defillama, Stacks (STX) Total Value Locked (TVL) is consistently increasing. Presently, the STX TVL stands at $85.88 million, and in the last 24 hours, its value has increased by over 19.8%. Over the last 7 days, STX’s TVL has changed by over 45%, and in the last 30 days, STX’s TVL has surged by over 50%. 
These positive developments and the continuous increase in TVL underscore that investors and developers are increasingly considering STX’s innovative technology. According to expert technical analysis, Stacks (STX) on a weekly time frame is bullish, heading towards its all-time high, much like Bitcoin.
In the coming days, if Bitcoin continues its upward momentum, we may witness STX reaching its all-time high. However, the current price of Stacks (STX) is stretched, and in the coming days, some price correction may occur before it attains its all-time high.
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Stacks (STX) mirror Bitcoin’s path, soar 10%, will it hit ATH?

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