STX token price increased by 27 %

Dec 21, 2023
Stacks Network STX token price grew by 27% on Wednesday after a series of positive comments from legendary investor Tim Draper.
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The specialist noted in his interview that he is inspired by Stacks and considers the transition of important applications to BTC an interesting trend. He also noted that it is necessary to follow the same development path as Microsoft. At the same time, Draper previously announced the growth of BTC to $ 250 thousand by 2025.

Stacks’ popularity grew within a year after the emergence of Bitcoin-based NFT projects, including Ordinals. According to DefiLlama, since the beginning of the year, Stacks’ capital has grown from $7 million up to $50 million.

Stacks is a Layer 2 network designed to enable smart contracts for BTC. In turn, the STX token was distributed through the first ever SEC-qualified token offering in 2019.

At the beginning of this year, the token was trading at a price of $0.21, and at the time of writing this article, its value reached $1.48, which is the highest level since February 2022.