STX emerges as a top performer as market participants’ interest in layer-2 Bitcoin continues to grow.
STX, the native token of the Bitcoin-focused Stacks layer 1 smart contract platform, is making waves in the crypto market after posting a 400% rally since October 2023.
STX trading volume has jumped a staggering 2,600% over the same period to $437.6 million on Feb. 22. STX’s performance surpasses Bitcoin’s (BTC) 90% increase since Oct. 15, 2023, and according to Messari, STX outperformed Bitcoin in 2023 with a 600% increase year-on-year.
This year has seen a growing interest in Bitcoin layer-2 projects not only because of spot Bitcoin ETFs, which now have more than $10 billion in assets under management (AuM), but also because of their focus on Bitcoin Ordinals, which already have a $2.5 billion market cap.
