Stacks (STX) is seeing a significant surge, currently priced at $1.499 and experiencing an impressive 26% increase today. This means it has now reached a fresh yearly peak at around $1.529.
Recognized for acting as a bridge between Bitcoin and decentralized apps, Stacks enables smooth integration of Bitcoin as an asset and efficient transaction settlements on the blockchain. Also, the recent boost in value can be attributed to its acknowledgment by Coinbase Institutional on X, formerly twitter
Bitcoin layers will bring Bitcoin to Billions 🧡
⭐️ @CoinbaseInsto featured Stacks as part of the 2024 Crypto Market Outlook pic.twitter.com/iAUcYmfHhg
— stacks.btc (@Stacks) December 20, 2023
Notably, this announcement from CoinbaseInsto features Stacks in the 2024 Crypto Market Outlook. It also has played a crucial role in propelling the token’s value. Additionally, Tim Draper, a key figure associated with DFJvc, drapervc, Draper_U, and IYS_Org on twitter has shared his enthusiasm for Stacks during an interview. This interview is with RaoulGMI and jessicasmw on coinbureau.
Every experiment in crypto will eventually gravitate towards Bitcoin 🟧
⭐️ @TimDraper mentions Stacks as the project that excited him this year during an interview with @RaoulGMI and @jessicasmw on @coinbureau pic.twitter.com/GFycyqqV0o
— stacks.btc (@Stacks) December 19, 2023
Furthermore, to provide more context to its rapid rise, Stacks’ Total Value Locked (TVL) has now surged from $10.4 million on September 25 to an impressive $50.8 million today. This means it’s marking a substantial 5x increase in less than three months, as reported by DefiLlama.
COMMENT: For context, @Stacks' TVL has risen from $10.4 million on September 25… to $50.8 million today.
A 5x increase in less than 3 months.
Data: @DefiLlama https://t.co/iJ9RDaGH2x pic.twitter.com/aKxrZJi9Mc
— BSCN (@BSCNews) December 20, 2023
Currently, $STX has a market capitalization exceeding $2.1 billion, thereby, solidifying its position as a significant player in the cryptocurrency industry. The recognition by Coinbase Institutional, coupled with endorsements from influential figures in the industry, has undoubtedly propelled Stacks to new heights. Thereby, showcasing its relevance and potential in the evolving blockchain ecosystem.
Finally, it’s important to note that as Stacks continues its upward trajectory, these recent developments underscore its growing prominence. Also the increasing acknowledgment of its unique value proposition within the broader crypto market.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.
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