Stack Tokens Spikes Following Bitcoin Ordinals Boom
Stack Tokens Spikes Following Bitcoin Ordinals Boom.
BTC Ordinals & STX
STX, the native token of Bitcoin’s layer 2 Stacks Network, has been seeing its price surge tremendously amidst the massive boom and hype of the Ordinals protocol, a new way for users to inscribe NFTs directly into Satoshis in Bitcoin.
Stacks itself is built on top of Bitcoin and allows developers to build and deploy smart contracts secured by the original blockchain network, in a similar way to those on Ethereum and Solana.
With the hype and excitement surrounding Bitcoin Ordinals NFTs, overall activity on the Bitcoin blockchain has skyrocketed, causing STX to also see a steady pump in its price.
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$STX pump is insane to watch.
It just erased 10 months of bear market downtrend in 48hrs. pic.twitter.com/7bkd4pLFPP
— Luke Martin (@VentureCoinist) February 20, 2023
STX Surges
The STX token has been seeing considerable growth these past 2 months following the launch and rise of Ordinals. According to data from CoinGecko, STX has seen its price surge by up to 117% in just the past 7 days.
Along with that, STX’s price has skyrocketed by 121.8% in the past 2 weeks and by 141.3% in the past 30 days. The token is now boasting a market cap of $905 million and is trading for $0.64 at the time of writing.
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