Stacks (STX), the Bitcoin smart contract platform, has surged over 30% to reach its all-time high following the approval of a significant network upgrade. The token, which enables developers to write smart contracts for the Bitcoin network, saw its prices soar to $3.65 before experiencing a slight pullback.
The momentum behind STX's price surge stems from the approval of a major upgrade to the Stacks protocol known as Nakamoto. The upgrade, announced by the Stacks Foundation on March 20, received overwhelming support from the community and governance votes, with over 2,700 accounts voting in favor. Notably, more than 150 million STX tokens from nearly 400 accounts supported the upgrade.
The Nakamoto testnet is scheduled to launch on March 25, with the mainnet activation expected in the last two weeks of May. This upgrade aims to enhance block times and network security, ensuring that transactions on Stacks become as irreversible as those on Bitcoin.
Stacks co-founder Muneeb Ali revealed that around $200 million in BTC yields will be distributed to users this year at current levels. This move highlights STX as the only digital asset offering native BTC yield, promising fast, affordable BTC transactions and full-featured smart contracts on the Stacks L2.
STX is not the only altcoin experiencing significant gains today. Ethereum and Solana have both seen double-digit increases, with Ethereum surpassing $3,500 and Solana trading at $190 at the time of writing. THORChain (RUNE) also saw a notable increase of around 19% to reach $8.73.
Meme coins, including Dogecoin, Shiba Inu, FLOKI, and PEPE, have also witnessed substantial gains, with FLOKI surging by 42% in a single day.
South Africa's Schindlers Digital Assets has created a legal process allowing cryptocurrency holders to buy property, making it easier to use digital assets for real estate transactions. The first event will be a property auction on 21 November 2024, marking a key step in integrating crypto with the real estate market.
AnaisMichael Saylor plans to present a Bitcoin investment strategy to Microsoft’s board ahead of a key vote on 10 December. The proposal, backed by shareholder activism, suggests Microsoft consider Bitcoin as a potential investment, citing MicroStrategy's success with the asset.
AnaisA Brazilian pianist lost access to his Bitcoin wallet worth over 2 million reais after misplacing his recovery phrase. Despite efforts to recover it, he faces the harsh reality that without the backup phrase and PIN, the funds are likely gone for good.
JoyNFT sales surged to $181 million in the week ending 17 November 2024, driven by the broader cryptocurrency market rally, particularly Bitcoin's rise. Ethereum and Bitcoin led the market, while other blockchains like Solana also contributed to the rebound.
AnaisSince Trump's election, Bitcoin has seen a surge of 230,000 new funded wallets, signalling strong retail interest driven by FOMO. This influx of new investors is contributing to Bitcoin's price stability and pushing its dominance in the crypto market above 50%.
WeatherlyZK International is adopting cryptocurrency payments, starting with Bitcoin, to improve transaction speed and reduce costs for global trade. This move aims to simplify cross-border payments and provide a more efficient and flexible financial system for its international partners.
WeatherlyBhutan’s Bitcoin reserves have now crossed $1 billion, positioning the nation as one of the top holders of cryptocurrency.
XingChiHe shared that he first stumbled upon cryptocurrency a few years ago and immediately piqued his interest. After doing his own research on it, he decided to do a little bit of personal investment on crypto.
XingChiRoman Sterlingov, founder of the Bitcoin Fog crypto mixer, was sentenced to 12.5 years in prison for laundering over $400 million linked to illegal activities. He was also ordered to forfeit $395.5 million and his share in a Bitcoin wallet holding 1,345 BTC, worth over $103 million.
WeatherlyThe National Center for Public Policy Research is warning Microsoft that they could potentially be looking at a lawsuit if they decide to not invest in Bitcoin and the prices of Bitcoin increase.
XingChiNate Geraci, President of the ETF store, sheds light on the spot Ethereum ETF approval process, emphasizing the significance of SEC's greenlight on both 19b-4s and S-1s. Approval could catalyze mainstream adoption, while delays may heighten regulatory concerns, influencing market sentiment and Ethereum prices.
Xu LinStacks has been stuck in its position in the wave of Bitcoin ecological explosion.
JinseFinanceBitcoin prices are being pressured by interest rate concerns, net outflows from spot Bitcoin ETFs and the collapse of Mt. Gox.
JinseFinanceCrypto trader Altcoin Sherpa expresses bullish sentiment on Stacks (STX), with an entry point around $1.75, anticipating significant upside. The analyst also notes an uptrend for The Sei Network (SEI), suggesting consolidation around $0.58. For Bonk (BONK), potential upward movement is anticipated, with price targets at $0.0000163 and $0.0000180ish. Altcoin Sherpa's analysis provides insights for traders in the altcoin space within the Bitcoin ecosystem.
Huang BoPresently, the total hashrate dedicated to the Bitcoin network is coasting along at 236 exahash per second (EH/s).
Bitcoin.comYuan fell to a 14-year low against the U.S. dollar early Wednesday.
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BitcoinistAll is not going to plan for bulls, warnings say, as $44,000 support hangs in the balance.
CointelegraphBTC price tumbled back under $40,000 as on-chain metrics indicate dwindling demand from new investors, while long-term holders largely dominate the market.
CointelegraphAPE price could see more downside in the coming days as the Otherside hype cools down.
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