Stacks Price Prediction as STX Becomes Top 15 Most Traded Crypto in 24 Hours – How High Can STX Go?

cryptonews.com:

Stacks (STX), the cryptocurrency that powers the smart-contract enabled Bitcoin layer-2 scaling blockchain called Stacks, saw the 13th highest trading volume of all cryptocurrencies over the last 24 hours, as per data presented by CoinGecko on Tuesday. Price predictions subsequently remain bullish.  

STX/USD was last changing hands around $1.26, close to its highest levels since April 2022, up around 6.4% on Tuesday, taking weekly gains to close to 10%.

Trading volumes hit a massive $430 million, corresponding to over 25% of the cryptocurrencies overall market cap.

By contrast, Bitcoin’s trading volumes of just over $36 billion in the last 24 hours only correspond to only around 6.7% of its overall market cap (of close to $540 billion).

Over the past 30 days, Stacks is the best-performing cryptocurrency in the top 100 by market capitalization, having enjoyed gains of nearly 3x.

That’s significantly better than the next best-performing cryptocurrency over the same time period Conflux (CFX), which is up a little over 30% over the same time period.

Stacks has been pumping amid growing hype about the layer-2 protocol’s potential to facilitate the emergence of a Bitcoin-centric decentralized web3 ecosystem.

The initial catalyst for increased interest in the project was the success of the Ordinals non-fungible token protocol which brought NFTs directly to the Bitcoin blockchain.

The cryptocurrency’s on-the-year gains sit at above 500%, a staggering turnaround in the cryptocurrency’s fortunes.

Admittedly, that still leaves stacks 65% below its all-time highs hit in late 2021 above $3.0.

A recent Forbes article citing “researchers” speculated that Stacks could become a “multi-billion dollar” cryptocurrency.

If they are right and Stacks