Many altcoins are performing better than the mainstream cryptocurrencies in the market. Investors are not only focusing on leading crypto-assets, they are also trying to witness the potential of other altcoins. Some coins have the potential to return the gain to investors and some fail to perform well. As we all know, trading cryptocurrencies does not ensure users with only gain, it is an on and off switch every day.
Stacks is one such altcoin that is now presenting a bullish run. It has the potential to set up a new all-time high if the trend continues. Since its ATH in mid-May, this is the first time that the price of STX has hit above the $2 level.
Stacks is a layer-1 blockchain solution for bringing smart contracts and decentralized applications (DApps) to Bitcoin (BTC). These smart contracts are added to Bitcoin without affecting any of the factors that make it so powerful, such as its security and stability.
Current Market Status
At the time of writing, the price value of STX is $2.09 with a trading volume of $595,870,210 in the last 24-hours. According to Coinmarketcap, STX has jumped over 43% within a day and it holds 57th position. The current circulating supply of STX is 1,818,000,000 coins.
The chart depicts the bullish pattern for the past 24-hours. The price value of STX has surged from $1.43 to $2.16 in a day which is 43% up. With the 7-day statistics, the chart displays a surge of 51%. The top exchanges where STX can be traded are Binance, Mandala Exchange, OKEx, FTX, and Upbit.
Bitcoin NFTs On Stacks
NFTs are being launched on Bitcoin via Stacks. This smart contract platform settles its transaction on the Bitcoin blockchain. Following that NFTs on Bitcoin began to explode through Stacks. Moreover, the firm has a list of upcoming NFT drops for the buyer to purchase.
Considering the recent updates, Bitcoin NFTs on Stacks might be the reason for the surge in the price value of STX. However, the users are expecting more highs and a new all-time high. Significantly, with the ongoing advancements, STX has the potential to reach new highs in the upcoming days.
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