Stacks

Bitcoin Cash

Bitcoin

Coin

<ul class="news-points"> 
 <li><strong>STX outperformed other assets in the top 50 except for BCH following the Grayscale announcement.</strong></li> 
 <li><strong>STX hit an overbought point but still has a better performance than BTC.</strong></li> 
 <li><strong>If the MFI reaches 80, then STX may plunge, and the target could be between $0.44 and $0.47.</strong></li> 
</ul> 
<p>After Grayscale’s partial win over the U.S. SEC, with regard to the <a href="https://coinedition.com/bitcoin-surges-as-grayscale-secures-partial-victory-in-sec-lawsuit/">Bitcoin (BTC)</a> ETF application, the price of <a href="https://coinedition.com/pepe-sol-stx-steal-spotlight-from-btc-amid-grayscale-court-victory/">Stacks (STX)</a> surged. According to CoinMarketCap, STX performed much better than other coins in the top 50, except for <a href="https://coinedition.com/bitcoin-cash-bch-price-prediction/">Bitcoin Cash (BCH)</a>.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24STX&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$STX</a> is the top mover post Grayscale win. Is Stacks becoming the high beta Bitcoin play?</p>— Ethan Kravitz (theycallme.eth) (@EthosVentures) <a href="https://twitter.com/EthosVentures/status/1696564890113134872?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">August 29, 2023</a>
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</figure> 
<p>At press time, STX’s value is $0.52— an 8.28% hike in the last seven days. Although Stacks enjoys a surge in price when Bitcoin has a positive outlook, it also has its own fundamentals backing it.</p> 
<h2 class="wp-block-heading" id="h-stx-and-btc-one-of-a-kind"><a></a><strong>STX and BTC: One of a Kind</strong></h2> 
<p>For the unfamiliar, Stacks is Bitcoin Layer Two (L2) for smart contracts. As an L2, Stacks enables settlement and faster transactions on the Bitcoin blockchain using the Proof-of-Transfer consensus mechanism.</p> 
<p>Proof of Transfer regulates the interaction between two a…</p>
<p>The post <a rel="nofollow" href="https://coinedition.com/can-stacks-stx-keep-riding-on-the-bitcoin-btc-wave/">Can Stacks (STX) Keep Riding on the Bitcoin (BTC) Wave?</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

Can Stacks (STX) Keep Riding on the Bitcoin (BTC) Wave?

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