Stacks Bond 3 is sold out, with 1,005 BTC from institutions like Bullish and 21Shares. A total of 1,740 BTC has been staked, locking up 24 million STX. The target is a 3% annualized BTC yield over a six-month term.
Don’t rush to hail this as institutions getting in early. 1,005 BTC is not a huge amount compared with yesterday’s $430 million in net outflows from BTC ETFs in a single day. The 3% is only a target, not a guarantee, and you also have to lock up STX worth 5% of the value for six months. If STX falls, this bit of yield might not be enough to make up for the loss. If you want to see a real signal, wait for the size of Bond 4 in early December.
#Stacks #BTC
Don’t rush to hail this as institutions getting in early. 1,005 BTC is not a huge amount compared with yesterday’s $430 million in net outflows from BTC ETFs in a single day. The 3% is only a target, not a guarantee, and you also have to lock up STX worth 5% of the value for six months. If STX falls, this bit of yield might not be enough to make up for the loss. If you want to see a real signal, wait for the size of Bond 4 in early December.
#Stacks #BTC