Stacks

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 <p class="is-style-lead">STACKS, the native token of Stacks Network, rose 27% on Dec. 20, fueled by positive comments from renowned investor Tim Draper.&nbsp;</p>
 <p>Draper, who has a history of making successful crypto investments, expressed his enthusiasm for Stacks in an interview with CoinBureau.&nbsp;</p>
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 <p>He believes that Stacks has the potential to reshape the way that smart contracts are deployed and used on the Bitcoin (BTC) blockchain.</p>
 <p>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.</p>
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 <p>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.</p>
 <p>In recent <a rel="noopener noreferrer nofollow" title="months" href="https://thebittimes.com/tag/months.html">months</a>, 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;data.&nbsp;</p>
 <p>This growth is partly attributed to the emergence of Bitcoin inscription projects like Ordinals. Due to the rapid rise of some BTC-20 tokens, the focus has been on projects tapping into Bitcoin, lifting Stacks.</p>
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 <p>Draper’s <a rel="noopener noreferrer nofollow" title="bullish" href="https://thebittimes.com/tag/bullish.html">bullish</a> sentiment towards Stacks aligns with his broader outlook on Bitcoin.&nbsp;</p>
 <p>The venture capitalist is <a rel="noopener noreferrer nofollow" title="bullish" href="https://thebittimes.com/tag/bullish.html">bullish</a> on Bitcoin and expects the coin to reach $250,000 by 2025.&nbsp;</p>
 <p>The crypto community expects the Securities and Exchange Commission (SEC) to approve several spot Bitcoin ETFs. This move could lift prices, further pumping STACKS.</p>
 <p>Trading at&nbsp;around&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.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/stacks-up-215-in-3-months-tim-draper-bullish-tbt74548.html">https://thebittimes.com/stacks-up-215-in-3-months-tim-draper-bullish-tbt74548.html</a></p>

Stacks up 215% in 3 months, Tim Draper bullish

TheBitTimes

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