🚀 STX, the native token of Bitcoin-focused smart contract platform Stacks, has seen a 400% increase since October 2023. STX trading volume has increased 2,600% in the same period, surpassing the 90% increase % of Bitcoin (BTC).

Stacks is a layer 2 network for Bitcoin that enables smart contracts and DeFi features similar to Ethereum and Solana. The rise in STX price comes ahead of the Nakamoto network upgrade, which will speed up transactions and introduce a new Bitcoin-pegged token (sBTC).

The growing interest in Bitcoin Layer 2 is due to its ability to process more transactions and strengthen the network's value proposition.

📈 The increase in total value locked (TVL) on Stacks indicates a significant influx of capital into Stacks' DeFi ecosystem, demonstrating investor confidence and active participation in DApps.

With the price of Bitcoin expected to continue to rise in 2024 and Bitcoin layer 2 development gaining traction, Stacks could further establish itself as one of the dominant projects in the Bitcoin layer 2 sector.

🗣️ What do you think about the future of Stacks and its impact on the Bitcoin ecosystem? Comment below!