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Crypto

Stacks Surges as Bitcoin Staking Expands

Guavy AI Editorial Team
Instruments
BTC STX
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Stacks (STX) has surged by over 23% in daily gains, outperforming all top 100 cryptocurrencies by market capitalization. The altcoin's price breakout from a descending channel last week is attributed to a broader crypto market rebound.

The expansion of Bitcoin's utility, particularly the staking feature, has driven Stacks' prices upwards. As a result, social mentions of STX increased by 31.7% this week, according to LunarCrush.

Recently, Stacks announced that self-custodial Bitcoin staking would go live with the Genesis Bond on September 10th. This upgrade allows holders to earn BTC-denominated yield while keeping their coins in Bitcoin's base layer under their own keys.

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