crypto-news-flash.com
- STX leads CoinMarketCap’s top-gainers list, reflecting investor interest and recovery momentum.
- Recent integrations and developments in Stacks strengthen network security and boost DeFi activity.
Stacks (STX), the native token of Bitcoin’s layer-2 network, has unexpectedly led the list of top-gainers on CoinMarketCap.
At the time of writing, STX is trading around $1.58, up 7.83% over the last 24 hours. Over the last several days, STX has gained a lot of interest from investors, constantly recovering from its short-term lows despite the continuous price volatility of Bitcoin (BTC), which is struggling to break through the $60,000 resistance level.
Analyst Predicts Major Bullish Leap for Stacks
Popular cryptocurrency analyst World of Charts recently shared a bullish analysis for Stacks, indicating an intriguing possibility following a healthy correction.
$Stx
Looks Attractive Here After Healthy Correction Looks Ready For Another Bullish Wave Over All Consolidating In Descending Channel ( On Lower Timeframe Breaking Falling Wedge Too Expecting 2x Bullish Wave Incase Of Successful Breakout #Crypto #Stx #Stacks pic.twitter.com/ae7KZZJ8hk
— World Of Charts (@WorldOfCharts1) July 10, 2024
The chart he shared showed the possibility of a major bullish wave. According to him, all signs are consolidating within a descending channel pattern on a lower period, breaking the falling wedge. This setup, if effective, might result in a double bullish wave.
Recent developments within the Stacks ecosystem appear to be supporting STX’s upward momentum. CNF previously reported that the Hypernative Protocol has secured the Stacks environment. This new integration promises to improve network security by including enhanced real-time threat detection.
Furthermore, stacks reached an all-time high, with over 150 million STX locked in DeFi programs. Also, earlier this year, Tim Draper stated, “I am very excited about Stacks.” Draper, who is known for supporting startups that try to combine critical applications with Bitcoin, bolstered his image by sponsoring Stacks.
As Stacks continues to show potential growth and stability, investors and analysts are keeping a careful eye on its progress and market movements.