- With the launch of Ordinals, the price of the stack has increased following interest in bitcoin NFTs.
- STX reached an all-time high of $3.39 in December 2021.
- Analysts say the upcoming bitcoin halving could catalyze new rallies for the coin.
A lotBitcoin layer that leverages smart contracts to enable decentralized finance (DeFi) and non-fungible tokens (nft) among other decentralized applications on the leading blockchain network, is currently one of the best performing assets in the market today.
Native STX is up over 43% on the week even as most coins struggle with the downside pressure.
Stack Price: STX Ready For BTC Halving?
stack price Bitcoin-based NFTs and more recently rallying due to massive interest in the protocol released its white paper, The price of the token has really gained significant traction following the hype surrounding the launch of the Ordinals project.
Ordinals is a novel NFT protocol that allows for the mining and storage of digital artifacts on the bitcoin blockchain. The overwhelming interest that greeted the launch of Ordinals helped propel the price of STX as demand for the native token of Layer 2 blockchain Stax skyrocketed.
You are welcomed! #A lot
⭐ A #bitcoin layer for smart contracts
⭐ Enables smart contracts and decentralized applications to be used with trust $BTC as an asset
⭐ Settlement of transactions #bitcoin blockchain
⭐ Unlocking #bitcoin Decentralized Finance, NFTs, BNS, and more pic.twitter.com/VoHnypE1dx
— stacks.btc (@Stacks) February 21, 2023
Stack Network leveraging the security and stability of bitcoin’s blockchain, the idea of bitcoin NFTs and DeFi are factors helping STX see more upside action. But more than that, analysts predict that STX price could see another explosive move as the bitcoin halving is about a year away.
bitcoin price Heading to a halt and that seems to be the trajectory STX will take. For now, market analysts say there is a “cultural shift in bitcoin,” and this sentiment could catalyze a bigger move for STX.
Ordinances have catalysed a cultural shift #bitcoin He will work $stxBenefit of For those who want more programmable use $BTCbuilt on top of applications @stacks They will provide what they want. https://t.co/icPTUGrMFQ
— Chris Burniske (@cburniske) February 26, 2023
stx price today
Native token STX is up more than 43% in the past week and has topped the 100 largest cryptocurrencies by market cap in weekly performance.
While the STX/USD pair has retraced about 3% over the past 24-hours, the coin was priced at $0.89 at 8:20 a.m. ET on February 28, showing a jump of 3.5% on the hourly time frame.
And with more than 200% gains in the last 30 days, Stack has climbed rapidly in terms of market cap (currently at over $1.2 billion and ranked 47th on CoinGecko).