There has been a lot of media attention on Stacks ($STX) lately, with the price surging from $0.20 to over $1.00 over the last few weeks. The recent price action in Stacks left the token’s market capitalization at $1,136,486,885.24. However, much of that rally is in response to the continued adoption of the Ordinals NFT project on Bitcoin.

Stacks ($STX) is an open-source blockchain network that brings decentralized apps (dApps) and smart contracts to Bitcoin (BTC). Here’s a detailed analysis of the recent price movement, fundamentals, and price prediction for Stacks ($STX).

Price Movement Analysis

According to technical analysis, the price movement and range of STX suggest that investors are neutral on the coin now. However, the long-term technical analysis score for STX is superior to 54% of cryptos in circulation.

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As for price predictions, there are mixed opinions. Based on research, the maximum price of Stacks may reach $1.74 by the end of 2023. Tech News Leader’s STX price prediction has indicated a strong possibility of trading at $3.49 by the end of 2027. According to DigitalCoinPrice, the price of STX would grow by -$10.62% at the beginning of July 2023, and the price might reach $10.91 by 2028.

Fundamentals

The STX token is the network’s native cryptocurrency, and it is notable for being the first token offering qualified by the U.S. Securities and Exchange Commission (SEC). It is used on Stacks for transaction fees and deploying smart contracts. In addition, it can be “stacked” and earn Bitcoin rewards.

Price Prediction

News Leader’s STX price prediction has indicated a strong possibility of trading at $3.49 by the end of 2027. According to DigitalCoinPrice, the price of STX might reach $10.91 by 2028. Bitnation also predicts that Stacks can claim a maximum price of $4.93 by 2027 with an average price of $4.68 expected.

Also Read: Top 5 Cryptocurrencies to Invest in June 2023

It is important to note that price predictions end up being wrong more often than not, and no one can really tell right now.

 Conclusion

Stacks ($STX) is an open-source blockchain network that brings decentralized apps (dApps) and smart contracts to Bitcoin (BTC). The recent price movement and range of STX suggest that investors are neutral on the coin now, but long-term technical analysis scores for STX are superior to 54% of cryptos in circulation. Based on our research, Stacks ($STX) is bullish for the long term, and the maximum price of STX may reach $1.74 by the end of 2023. However, it’s important to remember that price predictions end up being wrong more often than not.

Note: This is not financial advice.

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Written by Agbo Obinnaya.

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