CandleFocus

Expert analysis: STX poised for long-term growth following Nakamoto upgrade 

Author: Content Editor
Stacks, a Bitcoin layer-2 solution, has seen increased attention and potential for long-term growth following the recent Nakamoto upgrade. The upgrade has led to a surge in activity, with active addresses growing by 97% and transactions rising by 94%. The upcoming sBTC release aims to facilitate DeFi functions on the network, which could make Stacks a major player in Bitcoin's growing DeFi space. However, Stacks has not seen as much growth in total value locked compared to other Bitcoin L2 solutions. The price of STX has shown promising signs following the upgrade, with an 11% increase. While there may be near-term corrections, weekly indicators present more bullish signs. STX is currently trading at $1.71, down 6.69% in the past 24 hours. It is noted that STX often experiences greater price swings due to its small market size. If STX follows a similar pattern to BTC, it could see a significant uptrend, with its first major resistance level at $2.033.

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