Stacks: New Network Upgrades Push STX Price Up by 18%
The post Stacks: New Network Upgrades Push STX Price Up by 18% appeared on BitcoinEthereumNews.com.
Este artículo también está disponible en español. Stacks (STX) has regained and built up its momentum over two weeks after a bloody September start. Since then, the token has garnered much-deserved attention as developments on the platform mount up. According to CoinGecko, STX surged over 18% since last week, representing a strong flip in investor sentiment. Related Reading Stacks continue to make noise as more partnerships are unveiled this week; several of which might open a new reality on Stacks. With the hyped potential of the so-called Bitcoin economy underneath Stacks, investors and traders might see a lot of green in the coming days. New Developments Fuel STX Growth In an X post by the official Stacks account, the platform has announced that Hermetica.fi, a stablecoin provider in the Stack’s ecosystem, has deployed USDh. The stablecoin has been described as the first “Bitcoin-backed, yield-bearing” synthetic dollar available on the retail market. Hermetica’s marketing of the new stablecoin is aggressive, with a time-limited staking APR of 25%. Stacks’ leading Bitcoin L2 ecosystem continues to grow 🧡 Congratulations to @HermeticaFi for the official launch of their USDh stablecoin on Stacks. To celebrate, Hermetica is offering a prize pool to early movers. More information is available below. 1/2 pic.twitter.com/3EYmefYEPI — stacks.btc (@Stacks) September 25, 2024 Institutional investors might also be around the corner as Anchorage Digital, an institutional wallet provider, has announced their support for Stacks, opening the door for the platform to be exposed to institutional entities, possibly improving the Stacks’s future development. Introducing institutional investors will push the platform to develop at a faster pace. With the final step in activating the Nakamoto upgrade, several SX users have released posts regarding the benefits of the network upgrade. All in all, the conclusion is the same: the Nakamoto upgrade will significantly improve…
Filed under: News - @ September 27, 2024 9:24 am