Why did the price of STX rise by 30% this week and is it too late to buy?
The strong rise of STX began the first week of last December. After a report was issued by an investment fund in which it was expected that the performance of this digital currency would be the best among alternative digital currencies in the near future.
In a previous report published by BeInCrytpo in Arabic, the North Rock Digital investment fund said that the currency features strong fundamentals, a supportive token economy, and important upcoming catalysts, including the expected approval of a Bitcoin exchange-traded fund, a reduction in the Bitcoin supply, and a Nakamoto STX fundamental update, as reasons for their positive outlook. Towards STX coin.
The fund's analysis focused on the importance of Nakamoto's upgrade scheduled before the April Bitcoin halving on the Stacks network.
This update is seen as a watershed moment for STX, as it promises dramatic improvements in speed and efficiency. Including, the speed of creating new blocks will reach 5 seconds.
It supports the sBTC token, a secure version of encrypted Bitcoin. This development, according to North Rock Digital, is a step closer to STX being a true Layer 2 network for the Bitcoin network.
The previous high in December reached 250% as the STX price peaked at approximately $2. Before it corrected with the same severity and fell to the Fibonacci level 61.8% at $1.30
