The Stacks token $STX has gained 23% in March and is up 350% over the past year amid booming hype for Bitcoin Ordinals and growing total value locked on the protocol. LedsmaLyllah writes
also spiked over the last few months, climbing from $8 million in February to $35 million in mid-March, according to data from DeFiLlama. It has since retreated to $25 million.
The Stacks smart contract protocol has a ledger to store data outside of Bitcoin’s layer 1, enabling developers to build apps on the platform, similar to what they can do on Ethereum or Solana. Stacks’ Ali said in an interview with CoinDesk that the recent interest surrounding STX could partly stem from anticipation for Stacks’ upcomingHe said the release will give users access to full smart contracts on layer 2, enabling them to move bitcoin in and out of the layer while their layer 2 transactions are secured by the Bitcoin layer 1.
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