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.
Microsoft shareholders overwhelmingly rejected a proposal to add Bitcoin to the company's balance sheet, with only 0.55% in support. The board expressed concerns about Bitcoin's volatility, despite acknowledging its potential as an inflation hedge.
WeatherlyEl Salvador and Argentina have signed an agreement to collaborate on cryptocurrency regulation and innovation in Latin America. The deal aims to share expertise, boost crypto growth, and strengthen the regulatory framework for digital assets in both countries.
AnaisFormer Binance CEO Changpeng “CZ” Zhao Predicts China could beat the United States of America at building a Strategic Bitcoin Reserve.
XingChiBinance has not yet decided on its new global headquarters due to complexities like tax laws and talent acquisition challenges. Legal troubles, including Changpeng Zhao's legal issues and a $4.3 billion fine, have led Binance to restructure its leadership and adopt better governance strategies.
WeatherlyBilly Markus, the founder of Dogecoin, recently shared regret about selling 37.37 bitcoins in 2015 for $424,152.54 — a decision that would now be worth over $368 million. Despite stepping away from Dogecoin in 2015, Markus reflects on its impact as a cultural icon while highlighting its true value lies in its community and shared ideals, not just market performance.
WeatherlyBitcoin has reached a new all-time high, surpassing $100,000, while CZ remains unaffected by the surge, holding onto the same amount of Bitcoin. Binance Coin (BNB) also hit a record high, but CZ’s focus remains on Bitcoin’s long-term value rather than its fluctuating price.
WeatherlyMeitu sold its entire crypto portfolio, making nearly $80 million just before bitcoin’s surge above $100,000. The company plans to distribute 80% of the gains to shareholders and refocus on its AI-driven apps.
AnaisBitcoin surpassed $100,000 on 5 December, driven by growing optimism following Trump’s pro-crypto appointments, including Paul Atkins for SEC Chair. This milestone signals investor confidence in a crypto-friendly future under Trump’s upcoming administration, which takes office on 20 January 2025.
JoyBitcoin hit a new all-time high today, surpassing $103,000, driven by strong market sentiment, especially after Donald Trump’s election victory. The cryptocurrency has surged 126% since the start of 2024. Could 2025 be an even stronger year for Bitcoin?
KikyoDonald Trump's administration plans to create a national Bitcoin reserve, boosting Bitcoin's role in the global economy. State-level and institutional support is growing, with 10 US states preparing their own Bitcoin reserve plans.
WeatherlyNate 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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