{"id":538772,"date":"2023-06-20T19:30:36","date_gmt":"2023-06-20T19:30:36","guid":{"rendered":"https:\/\/uniquehot.com\/?p=538772"},"modified":"2024-06-11T10:36:17","modified_gmt":"2024-06-11T10:36:17","slug":"stacks-stx-registers-11-gains-as-broader-market-suffers-volatility","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/stacks-stx-registers-11-gains-as-broader-market-suffers-volatility\/","title":{"rendered":"Stacks (STX) Registers 11% Gains As Broader Market Suffers Volatility"},"content":{"rendered":"
While the broader crypto market experiences turbulent times and volatility, Stacks (STX) stands out with an impressive performance.<\/span><\/p>\n Stacks is a network created in 2017 as an extension of the Bitcoin blockchain, allowing developers to create and deploy smart contracts. <\/span>In recent times its native token, called STX, has been exhibiting positive performance in its price movement following the popularity of Bitcoin Ordinals.\u00a0<\/span><\/p>\n The price of STX recorded a significant increase of 21.57% in the last 7-day trading session. <\/span>At the time of writing, STX is still maintaining its bullish momentum. It shows a notable increase of 11.33%, representing its current value of $0.6300.<\/span><\/p>\n Related Reading: Best Crypto Narrative For This Summer? Everything About LSDfi<\/a><\/p>\n According to <\/span>data<\/span><\/a> from CoinMarketCap, STX’s 24-hour trading volume is experiencing a massive pump of 387.11%, standing at $147 million. <\/span>This increase suggests strong investor demand and positive sentiment surrounding the asset, potentially indicating a bullish trend.<\/span><\/p>\n A fundamental factor driving the price of Stacks (STX) is the Bitcoin-based NFTs called Ordinals that have experienced increased adoption. <\/span>Based on data from <\/span>Dune analytics<\/span><\/a>, the launch of Ordinals has led to nearly 12,906,466 Bitcoin inscriptions on the network.\u00a0<\/span><\/p>\n This has increased network activity, causing the price of STX to rise significantly. <\/span>However, with increasing scrutiny and regulatory measures impacting various cryptocurrencies, STX became <\/span>the first token approved by the SEC<\/span><\/a>. <\/span>\u00a0This approval may have contributed to boosting its price by attracting investors.<\/span><\/p>\n This regulatory approval sets STX apart from other tokens and reassures investors regarding its legitimacy and regulatory compliance.<\/span><\/p>\nAmidst Market Turbulence, Stacks (STX) Defies the Odds, Showcasing a Resilient 11% Surge<\/h2>\n