Live STX Price Overview
The current Stacks (STX) price is $0.6532**, with a 24-hour trading volume of **$15,309,142. Over the past day, STX has increased by 0.76%, while it has decreased by 2.45% over the last week. Stacks holds a market capitalization of $1,001,081,097, ranking #61 in the cryptocurrency market. The circulating supply is 1,532,572,603 STX, with a maximum supply capped at 1,818,000,000 STX.
Compared to its all-time high, the current price is 82.93% lower, yet it remains 1,351.32% above its all-time low. All data provided is updated in real-time to ensure accuracy.
Understanding the Stacks Token (STX)
Stacks (STX) is the native cryptocurrency of the Stacks blockchain, formerly known as Blockstack. It functions as a Bitcoin scaling solution, designed to bring smart contracts and decentralized applications (dApps) to the Bitcoin network. The STX token is integral to network operations, including transaction execution, smart contract deployment, and miner rewards.
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STX operates as a utility token within its ecosystem. It facilitates various functions such as stacking (similar to staking), executing smart contracts, and participating in network governance. Price fluctuations are influenced by market dynamics, making it essential to monitor historical trends and real-time data.
Development and Background
Stacks was developed by Hiro Systems PBC (previously Blockstack PBC), founded by Muneeb Ali and Ryan Shea. The project received funding from prominent venture capital firms, including Winklevoss Capital, Digital Currency Group, and Y Combinator. This strong backing has contributed to its growth and adoption within the cryptocurrency space.
Key Features of Stacks
- Network Fuel: STX tokens are used to pay for transaction fees and computational services on the Stacks platform. These fees are distributed as rewards to miners, ensuring network security and efficiency.
- Bitcoin Rewards: Token holders can participate in "stacking" (distinct from staking) to earn Bitcoin rewards. This process is part of the Proof-of-Transfer consensus mechanism, offering up to 10% annual percentage yield (APY).
- dApp Integration: STX is utilized across various decentralized applications built on the Stacks network, including NFT marketplaces and DeFi platforms. This versatility enhances its utility and adoption potential.
The total supply of STX is expected to reach 1.82 billion tokens by 2050, minted through the Proof-of-Transfer mechanism. Like other cryptocurrencies, STX is subject to market volatility, influenced by factors such as regulatory developments and technological advancements.
A notable milestone for Stacks was its approval by the U.S. Securities and Exchange Commission (SEC) for a Reg A+ public offering, raising $28 million. This regulatory approval underscores its legitimacy and compliance within the financial landscape.
Security Measures
Stacks leverages the security of the Bitcoin network through its base layer, which utilizes the Proof-of-Work consensus mechanism. Additionally, the Stacks blockchain employs Proof-of-Transfer, a unique mining model where participants transfer BTC to mine STX tokens. This dual-layer security approach enhances network resilience and trustworthiness.
Frequently Asked Questions
What is the 24-hour trading volume of Stacks?
STX recorded a trading volume of $15,309,142 over the past 24 hours, reflecting active market participation.
What is the all-time high price of STX?
The highest price reached by STX was $3.83 on April 2, 2024.
What is the all-time low price of STX?
The lowest price recorded for STX was $0.0450 on March 13, 2020.
How can I start earning rewards with STX?
You can participate in stacking to earn Bitcoin rewards. This involves locking your STX tokens to support network operations and generate yields. 👉 Explore advanced earning strategies
What makes Stacks unique compared to other cryptocurrencies?
Stacks stands out for its integration with Bitcoin, enabling smart contracts and dApps on Bitcoin’s secure network. Its regulatory compliance and innovative consensus mechanism further differentiate it.
Is STX a good long-term investment?
While STX offers unique utilities and Bitcoin-backed security, its value is subject to market volatility. Conduct thorough research and consider factors like adoption rates and technological developments before investing.