• STX (Stacks) is a cryptocurrency of the decentralized computing platform Blockstack, which is focused on enhancing Bitcoin’s security without compromising decentralization.
• Despite widespread losses in the cryptocurrency market, Stacks (STX) is up 11% on the last trading day and its price has pushed above $0.7166 to $0.7821382.
• The circulating supply of STX is 1,375,596,474 while the maximum supply will be 1,818,000,000.
What Is Stacks?
Stacks (STX) is the cryptocurrency of the decentralized computing platform Blockstack. While bitcoin and other virtual currencies serve primarily as a medium of exchange, Stacks is focused on enhancements. It aims to bring smart contracts and decentralized applications (dapp) to the Bitcoin network. Its innovative design enables developers to build dapps leveraging Bitcoin’s security without compromising decentralization. The platform allows users to fully own and control their personal data through this style.
Current Market Performance
The cryptocurrency market is retracing with some top coins such as bitcoin (BTC) and solana (SOL), reversing gains; BTC is currently down 1.22%, holding the demand zone at $28,000 while SOL fell 4.02%. However amidst this decline STX has outperformed most crypto assets adding 11% in 24 hours pushing its price above $0.7166 to $0.7821382 according to CoinGecko data.
Circulating & Maximum Supply
The circulating supply of STX stands at 1,375,596,474 while its maximum supply will be 1,818,000,000 tokens once it reaches its full capacity.
Why Is Stacks Doing Well?
Stacks has done well as it offers an improved version of Bitcoin that enables developers to create dapps leveraging Bitcoin’s security without compromising decentralization or user privacy – something that regular cryptocurrencies are unable to do effectively due to their structure and scalability issues associated with them .
Conclusion
In conclusion Stacks (STX) has been performing well despite the bearish nature of the markets lately due its focus on bringing smart contracts and dapps onto the Bitcoin network enabling enhanced privacy for users when utilizing these services compared to traditional cryptocurrencies in terms of scalability issues and their structure .