Stacks Plummets to Six-Year Low Amid Binance Tag Concerns

Stacks (STX) plummeted to a six-year low of $0.13 on July 25 after experiencing strong bearish pressure, according to AMBCrypto. This decline is likely due to market concerns over the token's tag on Binance.

The Stacks Endowment acknowledged these concerns and stated that they were in contact with Binance to resolve the issue. They attributed the change in tag to the upcoming PoX-5 hardfork, which is scheduled for July 29. This upgrade will bring trustless, self-custodial Bitcoin staking, allowing users to earn BTC-dominated yield while keeping their holdings under their own key.

However, despite the rollout of the public testnet and market anticipation, Stacks' on-chain activity has failed to keep up. In fact, daily active users plunged to 1.1k in January 2026, according to Token Terminal data. This decline in usage suggests that the upcoming upgrade has not incentivized users to stay or attracted new users.