Notably, STX serves as a utility token inside the Stacks ecosystem to pay for network activity and contract execution. STX owners can also stake their holdings on the Stacks network via"Stacking" to support its blockchain's consensus mechanism. In return, they earn BTC rewards.
It appears traders flocked to purchase STX en masse, anticipating a rise in its demand after the Bitcoin Odessey's launch. For instance, cryptocurrency exchange OKcoin, the main backer behind the $160-million-fund, promoted the Stacks token for its bullish outlook,Interestingly, STX's ongoing price rally appeared at a confluence of two key support levels, with at least one suggesting that the Stacks token is heading to a new all-time high next.
This confluence comprises an upward sloping trendline that has acted as an accumulation point for traders since early 2020 and the 0.5 Fib line of the Fibonacci retracement graph made from $0.04-swing low to $2.82-swing high.STX now looks to close above its two interim exponential moving averages — the 20-week and the 50-week EMAs — following its rebound from the dual-support area.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Source: Digital Coin News (digitalcoinnews.net)
Our natural satellite will soon be explored, will you be part of MoonMetaverse_ as a trailblazer?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin's Volatility on US Inflation Reports and Stacks' STX 33% Explosion (Market Watch)Bitcoin's price went through some massive volatility on the report of February's CPI numbers, but this failed to produce a directional change, and BTC remains at around $39K.
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Okcoin, Stacks Launch $165M Pledge to Support Bitcoin-Related ProjectsCrypto exchange Okcoin and Stacks have launched a $165 million pledge among VCs to invest in solutions that accelerate the adoption of bitcoin. BrandyBetz reports Okcoin Stacks BrandyBetz I love this Okcoin Stacks BrandyBetz CLOUD NAME - CNAME cloudnamecom. A highly efficient platform for domain trading! 🤩 CoinMarketCap Website: Telegram: Listed on some of the big exchanges like MXC & Gate_Nft with many more to come. Okcoin Stacks BrandyBetz GreenChartBSC
Source: CoinDesk - 🏆 291. / 63 Read more »
How the new iPhone SE stacks up against its budget-friendly Android competitorsHead-to-head with a crop of competitive Android phones. I'm sure in terms of horse power it defeats everything, and that's about it, apple sacrificed everything for the chip, I literally could go on about how dumb I think this is but nah. Step 1 pick up phone Step 2 see forehead and chin design from 2017 Step 3 throw the phone in the trash and walk away giggling that apple still makes that design. Powerful with bad battery life, outdated design and underwhelming camera. But longlasting expect for the battery
Source: verge - 🏆 94. / 67 Read more »
CoinFLEX CEO Mark Lamb Explains How flexUSD Stacks up to Other Stablecoins – Interview Bitcoin NewsCoinFLEX creates innovative solutions to bring investors and crypto markets together through intuitive yield products such as flexUSD, the world’s first We don't buy bitcoin We earn bitcoin From Mining I'm ready to show you and few lucky people how to earn 0.1BTC ($3,900) and more daily without sending out funds to anyone. No referral No withdrawal fees If interested, kindly send a DM Hi I have dangerous cancer. I need money to treat cancer and pay for treatment. Help me as much as possible To treat and pay for cancer Send me as many SHIBAINU as you can SHIBAINU COIN wallet address 0x0a63D6C29E2a5B5F8d70EbbcE76063376c196894 😪😪😔😔😌 Fantom buy the dip 🚀
Source: BTCTN - 🏆 531. / 51 Read more »
Bitcoin's Volatility on US Inflation Reports and Stacks' STX 33% Explosion (Market Watch)Bitcoin's price went through some massive volatility on the report of February's CPI numbers, but this failed to produce a directional change, and BTC remains at around $39K.
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Biggest Movers: RUNE Rallies on Friday, With KDA Climbing Over 10% – Market Updates Bitcoin NewsRUNE and KDA managed to sustain double-digit gains on Friday, as STX climbed by as much as 36%, before moving into the red later in the day. If bitcoin crashes the whole crypto market will crash too, Everything is Correlated to Btc right now bitcoin will not crash We are just in a bear market Y’all follow Btcanne_ She’s a super underrated Bitcoiner who have been following her tweets and tip closely GMetaOne The only project which bridge the gap between digital virtual and real life characters Amazing $NFTs Buy GMO token on the ongoing presale rounds NFTCommunity NFTartist NFTGame NFTcollectible
Source: BTCTN - 🏆 531. / 51 Read more »