{"id":521311,"date":"2023-02-28T12:59:27","date_gmt":"2023-02-28T12:59:27","guid":{"rendered":"https:\/\/wncen.com\/?p=521311"},"modified":"2023-02-28T12:59:27","modified_gmt":"2023-02-28T12:59:27","slug":"stacks-soars-40-despite-massacre","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/stacks-soars-40-despite-massacre\/","title":{"rendered":"Stacks (STX) Survives Market Massacre Of Top 100 Cryptos With 40% Rally"},"content":{"rendered":"

STX, the native token of the Stacks network, is the only cryptocurrency that has resisted the assault that has devastated the broader crypto market on February 28. The majority of currencies have been covered in red.<\/p>\n

At the time of writing, STX was the leading gainer, up 40%<\/a> among the top 100 cryptocurrencies tracked by Coingecko and CoinMarketCap.<\/p>\n

STX was trading at $0.8634, up 0.5% from the previous day’s close. The token’s price has risen by 191% in the last 30 days, according to the most recent data. Monday marked a market capitalization of $1.1 billion for STX.<\/p>\n

 <\/p>\n

\"\"<\/p>\n

\"\"Source: Coingecko<\/pre>\n
<\/div>\n
Related Reading: Bitcoin Price Tries To Reclaim $24,000 As Crypto Market Trades Sideways<\/a><\/div>\n
Stacks Riding Ordinals Popularity?<\/strong><\/h2>\n
Since the Ordinals protocol went online on January 21 and allowed users to embed references to digital art into minor Bitcoin blockchain transactions, demand for the STX<\/a>\u00a0has skyrocketed.<\/p>\n
Bitcoin non-fungible tokens, also known as Ordinals, are the newest development in cryptocurrency, attracting investor interest. The technology has effectively increased network usage, transaction volume, and block size, since more than 200,000 Ordinals have been added to the Bitcoin blockchain.<\/p>\n
\"\"Image: Cryptopolitan<\/pre>\n
Muneeb Ali, co-founder of Stacks<\/a>, recently acknowledged that the Ordinals mania and growing interest in protocols were not coincidental.<\/p>\n
\u201cWhat has been missing is that young and enthusiastic developer community that is actually building things and shipping stuff,\u201d he said.<\/strong><\/p><\/blockquote>\n
Bringing DeFi To Bitcoin & All That Buzz<\/strong><\/h2>\n
Excitingly, Stacks’ emphasis on bringing DeFi to Bitcoin has added to the buzz surrounding Ordinals as investors anticipate the arrival of smart contracts on Bitcoin.<\/p>\n
On February 27, the price of the project’s token increased by 25.0% in 24 hours to $0.9614, building on the token’s continuous run over the past week.<\/p>\n
Despite these enormous gains, STX remains in the depths of a bear market. The token is down 77% from its all-time high of $3.39 in December 2021.<\/p>\n
The Stacks blockchain employs the Proof-of-Transfer (PoX) consensus method and is a Layer 1 blockchain.<\/p>\n
It enables users to validate Bitcoin transactions by retaining and staking the cryptocurrency. The user is allowed to mine Stacks blocks and earn STX tokens once BTC has been transferred.<\/p>\n
<\/p>\n
Crypto total market cap at $1 trillion on the weekend chart | Chart: TradingView.com<\/a><\/pre>\n
Related Reading: APE Price: Bears Spark Jitters As Crypto Sell Pressure Mounts<\/a><\/div>\n
STX Gets SEC Thumbs Up<\/strong><\/h3>\n
A recently released investment strategy by North Rock Digital highlighted Stacks’ emphasis on decentralized finance (DeFi), its novel use of smart contracts, and its interoperability with Bitcoin as distinguishing characteristics among blockchain initiatives.<\/p>\n
Stack augments Bitcoin’s functionality by introducing smart contracts and decentralized applications (dApps) to the Bitcoin blockchain. Since this was the case, it was impossible not to link the growth of Bitcoin Ordinals to the gains in STX.<\/p>\n
STX is the first token whose offering has been approved by the US Securities and Exchange Commission.<\/p>\n
-Featured image from ArtStation<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
STX, the native token of the Stacks network, is the only cryptocurrency that has resisted the assault that has devastated the broader crypto market on February 28. The majority of currencies have been covered in red. At the time of writing, STX was the leading gainer, up 40% among the top 100 cryptocurrencies tracked by Coingecko and CoinMarketCap. STX was trading at $0.8634, up 0.5% from the previous day’s close. The token’s price has risen by 191% in the last 30 days, according to the most recent data. Monday marked a market capitalization of $1.1 billion for STX.   Source: Coingecko Related Reading: Bitcoin Price Tries To Reclaim $24,000 As Crypto Market Trades Sideways Stacks Riding Ordinals Popularity? Since the Ordinals protocol went online on January 21 and allowed users to embed references to digital art into minor Bitcoin blockchain transactions, demand for the STX\u00a0has skyrocketed. Bitcoin non-fungible tokens, also known as Ordinals, are the newest development in cryptocurrency, attracting investor interest. The technology has effectively increased network usage, transaction volume, and block size, since more than 200,000 Ordinals have been added to the Bitcoin blockchain. Image: Cryptopolitan Muneeb Ali, co-founder of Stacks, recently acknowledged that the Ordinals mania and growing interest in protocols were not coincidental. \u201cWhat has been missing is that young and enthusiastic developer community that is actually building things and shipping stuff,\u201d he said. Bringing DeFi To Bitcoin & All That Buzz Excitingly, Stacks’ emphasis on bringing DeFi to Bitcoin has added to the buzz surrounding Ordinals as investors anticipate the arrival of smart contracts on Bitcoin. On February 27, the price of the project’s token increased by 25.0% in 24 hours to $0.9614, building on the token’s continuous run over the past week. Despite these enormous gains, STX remains in the depths of a bear market. The token is down 77% from its all-time high of $3.39 in December 2021. The Stacks blockchain employs the Proof-of-Transfer (PoX) consensus method and is a Layer 1 blockchain. It enables users to validate Bitcoin transactions by retaining and staking the cryptocurrency. The user is allowed to mine Stacks blocks and earn STX tokens once BTC has been transferred. Crypto total market cap at $1 trillion on the weekend chart | Chart: TradingView.com Related Reading: APE Price: Bears Spark Jitters As Crypto Sell Pressure Mounts STX Gets SEC Thumbs Up A recently released investment strategy by North Rock Digital highlighted Stacks’ emphasis on decentralized finance (DeFi), its novel use of smart contracts, and its interoperability with Bitcoin as distinguishing characteristics among blockchain initiatives. Stack augments Bitcoin’s functionality by introducing smart contracts and decentralized applications (dApps) to the Bitcoin blockchain. Since this was the case, it was impossible not to link the growth of Bitcoin Ordinals to the gains in STX. STX is the first token whose offering has been approved by the US Securities and Exchange Commission. -Featured image from ArtStation<\/p>\n","protected":false},"author":557,"featured_media":521323,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,6664,15369,87919,83786,87879],"class_list":["post-521311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-crypto","tag-nft","tag-ordinals","tag-stacks","tag-stx"],"acf":[],"yoast_head":"\nStacks Survives Massacre Of Top 100 Cryptos With 40% Rally<\/title>\n<meta name=\"description\" content=\"STX, the native token of the Stacks network, is the only cryptocurrency that has resisted the assault that has devastated the broader crypto market on\" \/>\n<meta name=\"robots\" content=\"index, follow, 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Encila","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g","caption":"Christian Encila"},"description":"They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Stacks (STX) Survives Market Massacre Of Top 100 Cryptos With 40% Rally","url":"http:\/\/wncen.com\/news\/stacks-soars-40-despite-massacre\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/stacks-soars-40-despite-massacre\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/a-58.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/a-58.png?fit=1175%2C757"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","crypto","nft","ordinals","stacks","stx"],"dateCreated":"2023-02-28T12:59:27Z","datePublished":"2023-02-28T12:59:27Z","dateModified":"2023-02-28T12:59:27Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Stacks (STX) Survives Market Massacre Of Top 100 Cryptos With 40% Rally\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/stacks-soars-40-despite-massacre\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/stacks-soars-40-despite-massacre\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/a-58.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/a-58.png?fit=1175%2C757\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"crypto\",\"nft\",\"ordinals\",\"stacks\",\"stx\"],\"dateCreated\":\"2023-02-28T12:59:27Z\",\"datePublished\":\"2023-02-28T12:59:27Z\",\"dateModified\":\"2023-02-28T12:59:27Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/a-58.png?fit=1175%2C757","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/521311"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=521311"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/521311\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/521323"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=521311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=521311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=521311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}