tl;dr
The Stacks (STX) token has seen a significant surge in price, reaching an all-time high of $3.65 before settling at $3.36. This momentum is driven by the approval of a major upgrade to the Stacks protocol called Nakamoto, following a resounding majority in favor from the community and governance vot...
The Stacks (STX) token has seen a significant surge in price, reaching an all-time high of $3.65 before settling at $3.36. This momentum is driven by the approval of a major upgrade to the Stacks protocol called Nakamoto, following a resounding majority in favor from the community and governance vote. The upcoming Nakamoto testnet and mainnet activation, as well as the promise of a native BTC yield, have contributed to the excitement surrounding Stacks. Additionally, other altcoins like Ethereum, Solana, THORChain, Dogecoin, Shiba Inu, FLOKI, and PEPE are also experiencing substantial growth.
Stacks (STX) prices have skyrocketed more than 30% over the past few hours, reaching an all-time high of $3.65 before cooling off a little. The token had climbed from an intraday low of $2.75 on March 20 but had retreated slightly to trade at $3.36 at the time of writing. Furthermore, the asset has made an impressive 125% since the beginning of this year. Stacks enables developers to write smart contracts for the Bitcoin network and was popularized in 2023 during the Ordinal Inscriptions craze.
What is driving the momentum behind STX? The momentum for the big price pump has come from the approval of a major upgrade to the Stacks protocol called Nakamoto. The Nakamoto testnet will go live on March 25th, with the mainnet activation expected in the last two weeks of May. The upgrade will increase block times and network security, with transactions on Stacks becoming as irreversible as Bitcoin’s. Stacks co-founder Muneeb Ali has announced that around $200 million in BTC yields will go out to users this year at current levels, emphasizing that Stacks (STX) is the only digital asset with a native BTC yield.
Other altcoins are also outperforming STX, with Ethereum, Solana, THORChain, Dogecoin, Shiba Inu, FLOKI, and PEPE all seeing significant growth. Ethereum prices had increased by 12%, taking it back above $3,500, while meme coins like Dogecoin, Shiba Inu, FLOKI, and PEPE are experiencing substantial gains as well.
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