{"id":521767,"date":"2023-03-03T13:35:28","date_gmt":"2023-03-03T13:35:28","guid":{"rendered":"https:\/\/ktsl888.com\/?p=521767"},"modified":"2024-06-11T07:22:30","modified_gmt":"2024-06-11T07:22:30","slug":"stacks-stx-holds-9-gains-on-weekly-chart-as-top-coins-nosedive","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/stacks-stx-holds-9-gains-on-weekly-chart-as-top-coins-nosedive\/","title":{"rendered":"Stacks (STX) Holds 9% Gains On Weekly Chart As Top Coins Nosedive"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Stacks (STX) is among the <\/span><a href=\"https:\/\/www.coingecko.com\/en\/crypto-gainers-losers?time=d14\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">weekly gainers<\/span><\/a><span style=\"font-weight: 400\"> as top coins prices, like <\/span><span style=\"font-weight: 400\">Bitcoin<\/span><span style=\"font-weight: 400\"> and Ethereum, surrender to the ongoing onslaught in the crypto market. Currently, only a few are sustaining their weekly and monthly gains.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">As for STX, the token has recorded over 160% in two weeks and above 203.3% over the past 30 days. Above all, STX is among the coins that fought to hold their gains during the past days of sporadic declines across the crypto space.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-funding-rate-turns-negative-short-squeeze-incoming\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">Stacks (STX) Holds 5% On Weekly Chart During Top Coins Nosedive<\/a><\/div>\n<h2 class=\"related-reading-shortcode\">Stacks (STX) Beating The Odds; Here\u2019s Why?<\/h2>\n<p><span style=\"font-weight: 400\">As a Smart Contract platform, <\/span><span style=\"font-weight: 400\">Stacks<\/span><span style=\"font-weight: 400\"> seeks to leverage Bitcoin\u2019s robust security and stability to support decentralized applications. It uses its Stacks token (STX) to fuel Smart Contract executions, process transactions, and register new digital assets on the Stacks 2.0 blockchain.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The <a href=\"https:\/\/www.stacks.co\/\" target=\"_blank\" rel=\"noopener nofollow\">STX token<\/a> leverages the Stacks blockchain\u2019s unique features, including the proof-of-transfer (PoX), to scale its popularity. Its holders can pay in BTC to mint new tokens through the proof-of-transfer consensus mechanism.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Integrating Web3 on Bitcoin has allowed the Stack network to evolve beyond the possibilities of the blockchain, introducing more lending, borrowing, staking, and various Web3 activities. It is more of a mutual association, where Bitcoin enjoys more users through Stacks, while the Web3 and DeFi smart contracts leverage Bitcoin\u2019s security and stability.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The need for security and stability has increased even more with the recent spree of hacks and scams in the DeFi and Web3 ecosystems. Stacks is likely getting more users who want to leverage Bitcoin\u2019s security, thereby boosting the <\/span><span style=\"font-weight: 400\">STX token\u2019s price<\/span><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The Stacks Foundation&#8217;s <\/span><a href=\"https:\/\/twitter.com\/StacksOrg\/status\/61389570?cxt=HHwWhICx3feagKQtAAAA\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">recent announcement<\/span><\/a><span style=\"font-weight: 400\"> supports the above assumption. The March 3 announcement revealed that Stacks recorded a tremendous achievement over the last weeks. The Stacks blockchain deployed over 40,000 Smart Contracts and over 50,000 non-zero Stacks Addresses, while STX transfers reached 8 billion.\u00a0<\/span><\/p>\n<figure style=\"width: 856px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/nLLozvuA\/\" alt=\"STXUSD price chart\" width=\"856\" height=\"538\"><figcaption class=\"wp-caption-text\">STX&#8217;s price currently hovers at $0.8171 in the daily chart. | Source: STXUSD price chart from <a href=\"https:\/\/www.tradingview.com\/chart\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<h2>The Crypto Market In Red As Top Coins Surrender Past Gains<\/h2>\n<p><span style=\"font-weight: 400\">According to on-chain data, the broader cryptocurrency market has recorded massive losses over the past weeks. The bearish sentiment has weighed heavily on the cryptocurrency market. It\u2019s even more severe today, with most <\/span><span style=\"font-weight: 400\">coins losing<\/span><span style=\"font-weight: 400\"> virtually all their past-weeks and months gains. <\/span><\/p>\n<p><span style=\"font-weight: 400\">For example, <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">data from Coingecko<\/span><\/a><span style=\"font-weight: 400\"> shows that Bitcoin recorded parallel losses over the past few days. The number one crypto has lost its 30-day, 14-day, and 7-day gains, with a 4.5% 24-hour price decline.<\/span><\/p>\n<p><span style=\"font-weight: 400\">But despite the massive onslaught, STX recorded over 200% price gain over the last month. The Stacks token saw an over 160% rally within two weeks, while its price has increased by nearly 3% in a week. However, at the time of writing, STX is trading at $0.8254, with an 8.90% 24-hour price decline.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/maker-mkr-wows-with-21-gain\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">Maker (MKR) Survives Onslaught With 21% Gain As Other Top 100 Cryptos Suffocate<\/a><\/div>\n<p><span style=\"font-weight: 400\">With its nearly 9.47% 7-day price increase, STX is outperforming the <\/span><span style=\"font-weight: 400\">global crypto market<\/span><span style=\"font-weight: 400\">, which saw a 2.705% decline over the past seven days. In addition, STX has outpaced similar <\/span><a href=\"https:\/\/www.coingecko.com\/en\/categories\/smart-contract-platform\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400\">Smart Contract platforms<\/span><\/a><span style=\"font-weight: 400\">&#8216; cryptocurrencies, which are collectively down by 6.60%.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Featured image from Pixabay and chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Stacks (STX) is among the weekly gainers as top coins prices, like Bitcoin and Ethereum, surrender to the ongoing onslaught in the crypto market. Currently, only a few are sustaining their weekly and monthly gains.\u00a0 As for STX, the token has recorded over 160% in two weeks and above 203.3% over the past 30 days. Above all, STX is among the coins that fought to hold their gains during the past days of sporadic declines across the crypto space.\u00a0 Related Reading: Stacks (STX) Holds 5% On Weekly Chart During Top Coins Nosedive Stacks (STX) Beating The Odds; Here\u2019s Why? As a Smart Contract platform, Stacks seeks to leverage Bitcoin\u2019s robust security and stability to support decentralized applications. It uses its Stacks token (STX) to fuel Smart Contract executions, process transactions, and register new digital assets on the Stacks 2.0 blockchain. The STX token leverages the Stacks blockchain\u2019s unique features, including the proof-of-transfer (PoX), to scale its popularity. Its holders can pay in BTC to mint new tokens through the proof-of-transfer consensus mechanism. Integrating Web3 on Bitcoin has allowed the Stack network to evolve beyond the possibilities of the blockchain, introducing more lending, borrowing, staking, and various Web3 activities. It is more of a mutual association, where Bitcoin enjoys more users through Stacks, while the Web3 and DeFi smart contracts leverage Bitcoin\u2019s security and stability. The need for security and stability has increased even more with the recent spree of hacks and scams in the DeFi and Web3 ecosystems. Stacks is likely getting more users who want to leverage Bitcoin\u2019s security, thereby boosting the STX token\u2019s price. The Stacks Foundation&#8217;s recent announcement supports the above assumption. The March 3 announcement revealed that Stacks recorded a tremendous achievement over the last weeks. The Stacks blockchain deployed over 40,000 Smart Contracts and over 50,000 non-zero Stacks Addresses, while STX transfers reached 8 billion.\u00a0 The Crypto Market In Red As Top Coins Surrender Past Gains According to on-chain data, the broader cryptocurrency market has recorded massive losses over the past weeks. The bearish sentiment has weighed heavily on the cryptocurrency market. It\u2019s even more severe today, with most coins losing virtually all their past-weeks and months gains. For example, data from Coingecko shows that Bitcoin recorded parallel losses over the past few days. The number one crypto has lost its 30-day, 14-day, and 7-day gains, with a 4.5% 24-hour price decline. But despite the massive onslaught, STX recorded over 200% price gain over the last month. The Stacks token saw an over 160% rally within two weeks, while its price has increased by nearly 3% in a week. However, at the time of writing, STX is trading at $0.8254, with an 8.90% 24-hour price decline. Related Reading: Maker (MKR) Survives Onslaught With 21% Gain As Other Top 100 Cryptos Suffocate With its nearly 9.47% 7-day price increase, STX is outperforming the global crypto market, which saw a 2.705% decline over the past seven days. In addition, STX has outpaced similar Smart Contract platforms&#8216; cryptocurrencies, which are collectively down by 6.60%. Featured image from Pixabay and chart from TradingView.com<\/p>\n","protected":false},"author":577,"featured_media":521770,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[85876,83361,3],"tags":[87913,87915,87879,87931],"class_list":["post-521767","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin","category-btc","category-news","tag-stacks-stx","tag-stacks-analysis","tag-stx","tag-stxusd"],"acf":[],"yoast_head":"\n<title>Stacks Holds 5% On Weekly Chart During Top Coins Nosedive<\/title>\n<meta name=\"description\" content=\"Stacks is among the weekly gainers as top coins prices, like Bitcoin and Ethereum, surrender to the ongoing onslaught in the crypto market.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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