$STX staked supply went from 392M to 493M since the PoX-5 hard fork, according to Stacks' own Q3 ecosystem report.
that's more than 25% extra coin locked up, and locked coin can't be sold into a bounce. it's the project's number, so treat it as a claim, but it's one you can check onchain.
the BTC side is the part i like. 735 BTC went into Bitcoin Staking over two bonding periods. bond 1 filled at 230 BTC, bond 2 more than doubled that at 505, and 483 of it came through StackingDAO's stBTC. staked BTC that stays liquid inside apps is why people come back for a third round.
$STX trades at $0.4063 right now. if it holds $0.3912, the 24h low, i think it retests the $0.4355 high as staking keeps soaking up supply. if it loses $0.3912, i'm wrong on this and there's nothing to defend. anyone long is just holding a bounce that failed.
$0.3912 holds or breaks?
follow me for more calls like this.
that's more than 25% extra coin locked up, and locked coin can't be sold into a bounce. it's the project's number, so treat it as a claim, but it's one you can check onchain.
the BTC side is the part i like. 735 BTC went into Bitcoin Staking over two bonding periods. bond 1 filled at 230 BTC, bond 2 more than doubled that at 505, and 483 of it came through StackingDAO's stBTC. staked BTC that stays liquid inside apps is why people come back for a third round.
$STX trades at $0.4063 right now. if it holds $0.3912, the 24h low, i think it retests the $0.4355 high as staking keeps soaking up supply. if it loses $0.3912, i'm wrong on this and there's nothing to defend. anyone long is just holding a bounce that failed.
$0.3912 holds or breaks?
follow me for more calls like this.