The Stacks protocol, you know, the Bitcoin Layer-1, has been turning heads these days. Word on the street is that the total value locked (TVL) in Stacks has skyrocketed to a whopping $75.48 million. And get this, it’s long gone up through a jaw-dropping 60% in just one month! Let’s take a look at this STX price article in more detail.
So, check it out – today, Stacks (STX) is sitting pretty at $2.38, and it’s been quite the rollercoaster ride. In the past 24 hours alone, it’s been trading like crazy, with a volume of $721.59 million. Talk about some serious action, right?
Now, when we talk market cap, Stacks is holding its ground at a cool $3.42 billion, showing it’s no small fry in the crypto world. And get this, its market dominance? A modest 0.18%.
But hold onto your hats because here’s the kicker – STX has shot up by a whopping 10.79% in the last 24 hours. Now that’s what I call a power move!
Remember that peak moment back on October 10, 2021, when STX hit its all-time high of $3.31? Yeah, good times. But it hasn’t all been smooth sailing – it hit rock bottom on March 13, 2020, plummeting to just $0.044267. Ouch!
Since then, we’ve seen it bounce back though. The lowest it’s been since that peak is $0.199932 (cycle low), but it’s also seen some highs, with $2.38 being the latest (cycle high). So, you win some, you lose some, right?
Now, let’s talk vibes. The sentiment around Stacks’ price prediction is looking pretty optimistic, with the Fear & Greed Index showing a reading of 74 (Greed). Looks like folks are feeling pretty confident about where things are heading.
And when it comes to supply, Stacks isn’t playing around. With 1.44 billion STX currently circulating out of a max supply of 1.82 billion, it’s got some serious potential. Plus, with a yearly supply inflation rate of 6.99%, we’re seeing some growth – to the tune of 94.07 million STX created in the last year alone.
Why the STX price is rising?
So, what is the deal at the back of all this hustle and bustle? It looks as if the inflow of money into Bitcoin ETFs is truely making waves. it’s not simply the Bitcoin price it’s feeling the warmth; the whole crypto market is catching fire.
Yet, amidst all this hustle, there may be one cryptocurrency is sincerely stealing the show – Stacks (STX). How? In just the 24 hours, the price of STX shot up via a fab 16%, hitting a quite incredible $2.40 mark.
The trading volume for STX has also doubled, reaching a mind-blowing $480 million. It looks like increasingly many people are jumping on board the Stacks train.
How high can the STX price go?
See, it’s now not just about using Bitcoin as an asset anymore. Stacks is making it less difficult than ever to do transactions at the Bitcoin blockchain, and that’s got human beings buzzing.
And guess what? Stacks is doing all of it with a few pretty nifty tech, just like the proof of transfer consensus and clarity language. With those gear in its arsenal, Stacks is just like the superhero of the crypto global, giving it get admission to to all the data stored in Bitcoin.
And here’s the great element – every transaction you make on Stacks gets hashed and settled mechanically on the Bitcoin Layer 1. And the cherry on pinnacle? it’s unique comfortable way, thanks to the 100% Bitcoin hashpower.
And according to insights from DefiLlama, an analytics platform, the TVL in Stacks has shot as much as $75.48 million in only three weeks. This surge tells us that there is a ton of money flowing into the STX DeFi surroundings, and people are feeling pretty assured about it.
So, the prediction for Stacks (STX) is looking pretty interesting. It’s could trade within a range of $2.22 to $4.73. Now, if it manages to hit that upper price target, we’re talking about a potential increase of almost 98%, pushing it all the way up to $4.73. That’s some serious growth potential right there!
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