Altcoin Built to Boost Bitcoin Explodes As Veteran Crypto Investor Says Overlooked Opportunities Await

Bitcoin-focused crypto assets are in the midst of a strong price rally as the entire digital asset market continues to turn green.

Stacks (STX) enhances the utility of Bitcoin (BTC) by enabling applications to smart contracts, decentralized finance (DeFi) activities, non-fungible tokens (NFTs), and other major cryptocurrencies. A layer 1 blockchain that aims to elevate

Early Sunday morning, Chris Berniski was exactly called The bottom of the crypto market in November, Said Ethereum (ETH) has a huge number of Layer 2 projects, but Bitcoin has only two big ones so far.

He cites Bitcoin’s most popular payment sidechain networks, Stacks and Lightning.

“While there are many very high value L2 races on Ethereum, Bitcoin really only has stacks and lightning in the general purpose L2 race (so far).”

A few hours later, Stacks’ native token STX surged about 110% from $0.35 to $0.77 in less than a day.

Burniske quickly acknowledged the rise and said his company holds STX as an investment.

“The reassessment of overlooked opportunities is happening rapidly in crypto…and yes, we have STX.”

sauce: Chris Bernisk/Twitter

At the time of writing, STX has been pegged to the $0.57 range and has a current market cap of $781 million.

Burniske, a partner at venture capital firm Placeholder and a former executive at ARK Invest, previously asked for some narrative to propel the next cryptocurrency bull market.

A crypto veteran said:

“Obvious hype theme to the next expansion:

1) Bridging and multi-chain services
2) AI Meets Blockchain
3) App Chain and Sector Chain”

Berniske also mentioned a data availability layer or system that stores and provides consensus on the availability of data on the blockchain.

A former ARK Invest analyst has clarified what the “hype theme” means.

“Given how some people are reacting, we need to make it clear that a ‘hype theme’ is a theme that is going through its first major cycle in the limelight. There are some very real protocols that pursue , and many other “grifter protocols” that slipstream themes. “

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Featured image: Shutterstock/Andy Chipus/sdecoret

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