{"id":563697,"date":"2023-12-03T07:00:39","date_gmt":"2023-12-03T07:00:39","guid":{"rendered":"https:\/\/uniquehot.com\/?p=563697"},"modified":"2023-12-04T06:49:28","modified_gmt":"2023-12-04T06:49:28","slug":"stacks-stx-fired-up-along-with-top-coins-with-26-rally","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/stacks-stx-fired-up-along-with-top-coins-with-26-rally\/","title":{"rendered":"Stacks (STX) Fired Up Along With Top Coins With 26% Rally"},"content":{"rendered":"
The market is experiencing an all-out bullish sentiment as the broader crypto industry rallies. According to <\/span>Coingecko<\/span><\/a>, the market is up nearly 4% today as <\/span>Bitcoin<\/span><\/a> and <\/span>Ethereum<\/span><\/a> bulls flex their muscles in favorable market conditions. This gave the altcoins a leg-up in the past few days.\u00a0<\/span>Stacks (STX) is one of those altcoins. <\/span><\/p>\n The <\/span>latest<\/span><\/a> market data shows that the token, up 2% in the last day at $0.85, is bringing investors some good cheers in the run-up to Christmas with a 26% increase in price in the last week. This came after the bullish news surrounding the project.\u00a0<\/span><\/p>\n Several announcements contributed to STX\u2019s current rally. Bitflow Finance recently <\/span>announced<\/span><\/a> the launch of its decentralized exchange on STX. This brings a new avenue for investors new to Ordinals a safe way to enter. In an <\/span>interview<\/span><\/a> at a recent Stacks event, Biflow CEO <\/span>@dylan.btc<\/span><\/a> said that the Nakamoto upgrade on the platform brought faster transaction times for users.\u00a0<\/span><\/p>\n \ud83d\ude80Exciting news! sBTC Swaps are now live on Bitflow Testnet! \ud83c\udf0a\ud83c\udf89<\/p>\n \ud83d\udfe0Ready activate the Bitcoin economy with @Stacks<\/a>‘ sBTC and dive into the world of decentralized Bitcoin swaps?<\/p>\n \ud83c\udf0ahttps:\/\/t.co\/eXyZHzgZP5<\/a><\/p>\n Learn more\ud83d\udc47 pic.twitter.com\/tJWRQFYPUN<\/a><\/p>\n \u2014 BitFlow \ud83c\udf0a DeFi (@Bitflow_Finance) November 28, 2023<\/a><\/p><\/blockquote>\n Another Decentralized Finance App successfully integrated sBTC on testnet \ud83e\udde1<\/p>\n \ud83d\udfe7 Bitflow CEO @StacksDeveloper<\/a> on why he is building with sBTC<\/p>\n Check out @Bitflow_Finance<\/a> down below \ud83d\udc47 pic.twitter.com\/U3jCOMLn6h<\/a><\/p>\n \u2014 stacks.btc (@Stacks) November 29, 2023<\/a><\/p><\/blockquote>\n A simplified case where Layer-1 BTC is used as collateral for xUSD loans shows:<\/p>\n \u2705 Bitcoin is used for settlement more than for payment (both if default or liquidation occur)<\/p>\n \u2705 Payment value is unlocked by experimenting at higher layers (this is 1 exp that happens to use xUSD) pic.twitter.com\/4SMLz4jot1<\/a><\/p>\n \u2014 dylan.btc \ud83e\uddd9\ud83c\udffb\u200d\u2642\ufe0f (@StacksDeveloper) May 18, 2021<\/a><\/p><\/blockquote>\n But Stacks still faces a transaction speed problem.\u00a0<\/span><\/p>\n Adding fuel to the hype flame is the latest Bitcoin rally after news of a <\/span>positive<\/span><\/a> outcome of the US Securities and Exchange Commission\u2019s spot Bitcoin ETF decision came to light. Since the announcement, the face of crypto broke the $40k barrier and is up more than 4% in the weekly timeframe.<\/span><\/p>\n The current wave of bullish sentiment is held on top of the $0.8003 support level. However, the recent price action is unsustainable with a potential downside toward the $0.7007 support level. A drop to this level will hurt present gains but will give STX bulls a solid foundation to reclaim lost upward momentum shortly.\u00a0<\/span><\/p>\n <\/p>\nOn-Chain News Boost Stacks<\/b><\/h2>\n
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\u201cBut the biggest complaint that we have with our users right now is slow transaction times compared to Ethereum using WBTC. So if we can get a solution that settles Bitcoin with Bitcoin security, I think that\u2019s huge,\u201d the CEO added.\u00a0<\/span><\/h4>\n<\/blockquote>\n
STXUSD currently trading at $0.8616 on the daily chart: TradingView.com<\/a><\/pre>\n
Crucial Breakthroughs Give Bulls Strength\u00a0<\/b><\/h2>\n
STX price action in the last week. Source: Coingecko<\/pre>\n