Index
Indicators
Information about Stacks (STX)
Stacks was launched on October 25, 2019, and was developed by Blockstack PBC, headquartered in New York. Stacks is a decentralized network using blockchain technology that creates the infrastructure and provides tools for developers to efficiently deploy their applications. Stacks is designed to be a platform focused on ease of use, scalability, privacy, and user data security, allowing users to control their data and identity.
The platform allows users to control their information thanks to code stored on the blockchain system by operating directly on users’ devices and independently keeping information. This code has the role of:
Stacks token (STX) is a utility token belonging to the Stacks ecosystem and is used for the following purposes:
News
The price of Stacks (STX) has surged to $0.90, reflecting strong bullish momentum. Institutional interest is on the rise, particularly with the Grayscale STX Trust Fund. Notably, the stablecoin market cap for Stacks has skyrocketed by over 400% to almost $6 million.
Open Interest in Stacks derivatives has jumped to $73 million, indicating enhanced market confidence. Additionally, Stacks has shown a significant recovery in monthly returns for April, breaking a previous trend of declines, indicative of robust buying interest.
Bitcoin has reached over 85,000 USD, driven by institutional demand and discussions of a Bitcoin Reserve Bill in Texas. This comes amidst a backdrop of increasing market capitalization for cryptocurrencies.
The retreat of confidence in the US Dollar has led to significant price gains for altcoins like Sui and Stacks. The US Dollar Index has fallen to a three-year low due to concerns regarding the Federal Reserve’s independence.
Bitfinex is listing STX, the native token of the Stacks ecosystem, aimed at offering traders early access to Bitcoin’s evolving capabilities.
As a network signer, Bitfinex will enhance the decentralization of Stacks protocol, while facilitating smart contracts and decentralized applications on Bitcoin.
Stacks poised to rise with Bitcoin: Stacks (STX) enhances Bitcoin with smart contracts. Analysts predict that STX’s price will increase, provided it maintains trading above 3.80 USD. A rise in Bitcoin’s dominance, attributed to ETF approvals, could further support STX.
Ethereum’s potential price surge: Ethereum is currently testing a resistance level at 4,100 USD. If this Threshold is surpassed, analysts anticipate a potential price rise to 6,000 USD, signaling an optimistic view on altcoin performance alongside Bitcoin.
People also own