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Stacks' price action has closely mirrored Bitcoin's performance in recent months, boasting an impressive correlation coefficient of 0.86. This makes Stacks a high-beta play on Bitcoin, meaning that when Bitcoin moves, STX tends to move in a similar direction, albeit with more volatility and often at a greater magnitude.
Stacks strong correlation with Bitcoin suggested a possible rally.
With a jump of 2.86% in the past 24 hours, the cryptocurrency market has successfully crossed the $2.8 Trillion mark. With this, the STX price has maintained its bullish action by recording a positive candle for the 3rd consecutive day.
The sBTC token is designed as a trustless way to use bitcoin in decentralized finance applications, in contrast to centralized wrapped bitcoin tokens.
Stacks seeks to usher in a wave of adoption and innovation following its Nakamoto upgrade.
The launch of Bitcoin L2 Labs is expected to catalyze growth in decentralized applications, making Stacks an even stronger player in Bitcoin-based technology.
STX has experienced fluctuations since reaching an all-time high of $3.61 in November 2021. As the cryptocurrency market evolves, investors are curious whether STX can recover and surge again in the coming years.
The cryptocurrency market has experienced a significant pullback this week due to the rising uncertainty concerning the possible outcome of the upcoming U.S. election in 2024. Following this, the Stacks price has recorded a major price correction, highlighting increased bearish sentiment.
Stacks (STX), a prominent layer-2 solution for Bitcoin, is gaining attention following the recent Nakamoto upgrade on October 29, 2024. This upgrade aims to enhance transaction speeds and scalability, positioning Stacks for substantial long-term growth in the cryptocurrency landscape.
Stacks, a Bitcoin layer-2 solution, is currently garnering attention as its latest developments hint at substantial long-term growth potential. Following the recent Nakamoto upgrade on Oct.
STX's recent Nakamoto upgrade has unlocked faster transaction speeds and introduced sBTC, positioning the token for potential gains.
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TL;DR The Nakamoto Stacks upgrade is live, ensuring that confirmed transactions are as irreversible as those on Bitcoin. Transaction processing time has been significantly reduced. The technical foundation is laid for the launch of sBTC, scheduled for later this year.
The partnership could enhance the “financial utility of Bitcoin for our institutional clients,” wrote Calvin Shen, the chief commercial officer at Hex Trust.
Now, using Stacks is quicker and more secure. This is thanks to some major updates that make it work even better with Bitcoin.
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Muneeb Ali announced that the Nakamoto upgrade is live. It enhances Stacks Layer 2 transactions with 100% Bitcoin finality.
Stacks, a layer 2 solution for Bitcoin, is on the verge of a significant upgrade named “Nakamoto.” Scheduled for October 29, 2024, this update aims to enhance transaction speed and overall efficiency.
The Stacks Foundation has announced that security firm Asymmetric Research has joined its ecosystem as a key security contributor, reinforcing efforts around its Bitcoin Layer 2 solution. According to a press release shared with crypto.
TL;DR The Stacks Foundation has partnered with Asymmetric Research to strengthen the security of the upcoming Bitcoin-backed sBTC token. The launch of sBTC in Q4 2024 will allow Bitcoin users to interact with DeFi applications securely. Asymmetric Research will act as a “signer” of the sBTC system, ensuring secure transactions alongside 30 other companies.
Stacks adds Asymmetric Research as a key security contributor for its Bitcoin Layer 2 network.
Stacks is awaiting a major upgrade, but will it push the token above $2?
Stacks Network, the Bitcoin layer-2, is one of the largest DeFi protocols on the world's most secure platform. DeFiLlama says the platform manages over $109 million worth of assets.
TL;DR 2024-2025: Stacks (STX) is expected to trade between $1.59 and $4.72, with an average price around $2.40 in 2024 and potentially reaching $4.41 by the end of 2025. 2026-2027: Predictions for 2026 suggest a price range of $2 to $5.60, while 2027 could see prices fluctuating between $1.50 and $3.80.
