While the rest of the $1.4 trillion crypto market stagnates, Stacks enjoyed a 12% overnight surge to $1.39. The gains continue a weeklong rally that has inflated the price of Stacks by 61% since last Sunday, according to CoinMarketCap.
While that’s music to the ears of Stacks holders, the coin is still halfway off its former all-time high of $2.82, set on April 5 this year.
Created by Hiro (formerly Blockstack), the Stacks blockchain brings smart contracts to Bitcoin. It opens up a world of NFTs and decentralized applications on the ancient blockchain, which is usually reserved for payments and HODLing.
Stacks has used a proof-of-transfer (PoX) consensus mechanism since the network launched Stacks 2.0 in January. PoX enables STX holders to lock up their tokens for a fortnight in exchange for Bitcoin rewards of up to 18% a year.
The current staking cycle on OkCoin ends in two days. Those who stake their STX now on OkCoin can suck up what’s left of the estimated 10% annual ret
Źródło: https://decrypt.co/75695/stacks-surges-12-overnight-while-bitcoin-stagnates
