Cosmo Jiang, a portfolio manager at digital assets-focused hedge fund Pantera Capital, is highlighting one crypto project that could witness an explosion in activity this year.
Stacks (STX) aims to enable smart contracts and decentralized finance (DeFi) applications on Bitcoin (BTC). The project’s native token, STX, is up nearly 95% in the past month.
Jiang notes Stacks’ transaction activity has also been skyrocketing.
“On the eve of the Bitcoin ETF (exchange-traded fund), user activity already gives us a tell – they want to do more. Transaction activity on Stacks continues to trend upward. What does this look like in April, when the Nakamoto upgrade increases transaction speeds >100x?
Networks are flywheel businesses. Flywheel has begun spinning faster.”
Source: Cosmo Jiang/X
The Stacks Foundation says the Nakamoto upgrade is currently scheduled for release before the Bitcoin halving, which is currently estimated to happen on April 17th, according to BuyBitcoinWorldwide.c
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