According to foreign media, the Stacks token STX has become significantly stronger in recent days, increasing by more than 13 per cent a day, at a time approaching US$ 0.24. According to the article, the round was driven by a bitcoin rebound on the one hand and by the recent upgrading of the Stacks agreement on the other.
Bitcoin bounces the wheel.
Coinpedia mentioned that the recent increase in encryption market risk, with bitcoin approaching $80,000, has led to improved mobility of mainstream currency. Over the past week, in addition to bitcoin, XRP, LINK, HYPE, etc., have also seen stronger increases, and funds have begun to spread from bitcoin to more resilient assets.
The article understands the rise of STX in this round of market rotation as both benefiting from overall market warming and superseding new narratives of the project itself.
PX-5 Upgraded Online
Stacks' PoX-5 hard fork has been online on July 30th. According to the article, this upgrade provided the protocol infrastructure for Bitcoin Staking and Bitcoin Bonds. According to its description, eligible participants can match BTC on the main chain of bitcoin with STX on the Stacks network to get the BTC-denominated gain while maintaining bitcoin self-custody.
In addition, Stacks announced the launch of Genesis Bond as the first Bitcoin pledge cycle on the network, initially for pre-approved institutional participants. The cycle is expected to start at an altitude of approximately 966,350 bitcoin blocks and is projected at the current rate of about 10 September.
0.25 dollars for short focus
According to the article, STX is now in a resistance zone of between US$ 0.24 and US$ 0.25, which is where the market is most concerned. If the solar line continues to stand on this zone, the price structure will be further improved and $0.30 will become the next observation area.
At the same time, it is mentioned that if subsequent kinetic energy continues, the supply area above is roughly in the vicinity of US$ 0.40 to US$ 0.42. However, the article also states that if STX falls and fails to comply with 0.21 to 0.22 dollars, the current pattern of breakthroughs may be reduced and prices may return to the 0.18 to 0.20 dollars area.
Overall, it is a price analysis that is market-neutral. The core judgement is that the current round is not driven by short-term emotions, and that there are two catalytic clues behind the Bitcoin Warming and Stacks protocols.