The Bitcoin Layer 2 (L2) Network Stack (STX) has approached $1 in the last 24 hours after gaining 27% to $0.95 at the time of writing. of crypto slate data.
L2 tokens are seeing renewed interest from community members as the demand for non-fungible tokens (NFTs) on BTC’s blockchain network increases.
Markus Thielen, head of research at Matrixport, said the Bitcoin NFT hype could help boost STX’s valuation to a multi-billion dollar token.
Over the past 7 days, STX has been one of the best performing digital assets, up more than 50%. of crypto slate data. He also regained $1 billion in token market capitalization.
Meanwhile, Stacks Network will be upgraded on March 20th. According to February 22nd, statementthe Stack 2.1 upgrade strengthens the connection between the network and Bitcoin.
The upgrade enables more efficient BTC yields through stacking, lays the foundation for subnetting, and brings further speed and scalability to the network.
Project co-founder Munib Ali Said The upgrade is activated at Bitcoin block 781,551. He added that future upgrades should not be confused with Nakamoto’s release.
Meanwhile, Hal Press, founder of crypto investment fund North Rock Digital, said his fund had a long-term position on STX.
The crypto investment fund also published an investment paper on the token, highlighting its relationship with Bitcoin, growing interest in DeFi, and other developments.
According to Press, STX offers the best way to attend the Bitcoin halving event expected to occur next year.press Added:
We have a large and relatively untapped market opportunity, a huge cultural inflection point within our community (driven by ordinals), and a revolutionary stack upgrade planned for later this year. I believe.”
