One Bitcoin-native altcoin shot up greater than 60% this week as BTC continues its ascent in the direction of $60,000.
The altcoin is Stacks (STX), a blockchain protocol that’s bringing good contract functionality to the Bitcoin community.
A latest replace from the Stacks publication shares that non-fungible tokens (NFTs) constructed on Bitcoin have been exploding previously week and that a number of NFT tasks had efficiently launched on Stacks.
In gentle of Stacks’ rising NFT market, the STX token soared from its sub-$1.40 price ticket to an area excessive of $2.43 previously week. STX is at the moment down barely from its high and buying and selling at $2.16, based on CoinGecko.
With a market cap of $2.2 billion, the token’s ascent moved STX as much as the 67th spot amongst high cryptocurrencies.
In July, crypto intelligence agency Messari reported that Stacks was listed as one of many extra standard holdings amongst crypto hedge funds and enterprise capital companies, with 9 completely different companies holding the crypto asset.
As for Bitcoin, the highest crypto asset remains to be operating scorching and at the moment trading at $57,872, up 31% in October.
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