Stacks

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STACKS, the native token of Stacks Network, rose 27% on Dec. 20, fueled by positive comments from renowned investor Tim Draper.&nbsp; 
Draper, who has a history of making successful crypto investments, expressed his enthusiasm for Stacks in an interview with CoinBureau.&nbsp; 
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He believes that Stacks has the potential to reshape the way that smart contracts are deployed and used on the Bitcoin (BTC) blockchain. 
By default, Bitcoin is a transactional layer and doesn’t support smart contracts. Stacks aim to tap into Bitcoin’s decentralization and security by acting as a layer-2 network from where protocols can quickly deploy smart contracts. By “pegging-in”, it is possible to transfer STACKS between Bitcoin and Stacks without modifying the legacy blockchain. 
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Draper’s comments come when Stacks is gaining traction, rising in tandem with the broader crypto network. Bitcoin remains firm, and bulls are targeting $50,000 and even all-time highs recorded in late November 2021 at $69,000. 
In recent months, there has been a notable uptick in capital flows into Stacks. Its total value locked (TVL) is up from $7 million recorded in early 2023 to over $56 million when writing, according to DeFiLlama&nbsp;<a target="_blank" href="https://defillama.com/chain/Stacks" rel="noreferrer noopener">data</a>.&nbsp; 
This growth is partly attributed to the emergence of Bitcoin inscription projects like <a href="https://crypto.news/bitcoin-and-ordinals-now-supported-by-solanas-phantom-wallet/" data-type="post" data-id="14230049">Ordinals</a>. Due to the rapid rise of some BTC-20 tokens, the focus has been on projects tapping into Bitcoin, lifting Stacks. 
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Draper’s bullish sentiment towards Stacks aligns with his broader outlook on Bitcoin.&nbsp; 
The venture capitalist is bullish on Bitcoin and expects the coin to reach $250,000 by 2025.&nbsp; 
The crypto community expects the Securities and Exchange Commission (SEC) to approve several spot Bitcoin ETFs. This move could lift prices, further pumping STACKS. 
Trading at&nbsp;<a href="https://www.coinlore.com/coin/stacks" target="_blank" rel="noreferrer noopener">around</a>&nbsp;$1.33 on Dec. 22, STACKS is up 215% from September 2023 lows. The uptrend remains, and bulls might extend gains, lifting the token to 2021 highs of around $3.2. 
 Read more: <a href="https://crypto.news/stx-rallies-42-as-social-activity-and-oi-soars/"> STX rallies 42% as social activity and OI soars </a> 
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Stacks up 215% in 3 months, Tim Draper bullish

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