Stacks, a Bitcoin Layer 2 solution, had major growth over the last year with a 3,386% quarterly and 3,028% annual increase in its revenue, reaching $637,000.
The market capitalization of Stack’s native cryptocurrency, STX, experienced a significant surge of 203% quarterly and an impressive 598% year-over-year, reaching a milestone of $2 billion.
Stacks Q4 Report Reveals 363% TVL Increase
Messari’s “State of Stacks Q4 2023” report pointed to a 363% quarterly increase in total value locked (TVL), which translates to an impressive 773% rise on an annual basis, reaching $61 million. Additionally, the report indicates a remarkable yearly increase in average daily miner revenue by 1,015%, reaching $78,000.
The report highlights Stacks’ prominent position within the Bitcoin Layer-2 ecosystem and its prospects for further growth through the Nakamoto upgrade in April 2024.
As detailed in the project’s white paper, this upgrade promises significant advancements, including accelerated
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