- The STX crypto price has increased by 650% in the last year.
- The trading volume of the Stacks crypto has strongly declined in the last 24 hours.
Stacks is a layer-one blockchain on Bitcoin that enables dApps with smart contracts. STX is the native token of Stacks that secures and powers the network. Stacks was created by Blockstack PBC, a US-based company.
The market cap dominance of the STX crypto is 0.143%, making it the 37th largest cryptocurrency in the global crypto market. Also, the volume/market cap ratio of Stacks is 0.0995.
The market cap of the Stacks crypto has declined by 10.5% in the last 24 hours and the current market cap value of the Stacks crypto is $2.518 Billion. The trading volume of the crypto has declined by 36.5% and the volume ranking of the crypto is #19, as per CoinMarketCap.
The current total supply of the Stacks crypto is 1.431B Billion STX and the max supply of the crypto is similar to the total supply, resulting in 1.818B STX. Additionally, the fully diluted market cap of the crypto is $3.196 Billion.
Stacks Crypto Derivatives Analysis
The recorded long liquidation of the Stacks crypto, as per Coinglass, is $922.47K in the last 24 hours, while the derivatives trading volume has declined by 37.10%. The open interest of the crypto has further witnessed a decline of 17.8%.
The long/short ratio of the Stacks crypto is 0.9512 and the open interest value for the crypto is $110.37 Million.
STX Crypto Technical Analysis
The STX crypto price was inside a triangle pattern for a long time and this led to a breakout. This breakout resulted in a very strong movement in the crypto and the price has increased by more than 120% since the breakout.
The STX crypto price has also given the targets as per the breakout of the triangle pattern. For any fresh entry, one must wait for the price of the crypto to retrace a bit.
STX/USD Chart by TradingView
The STX crypto price is reflecting a golden cross of the 50-day and the 200-day EMsA on the daily chart. The price of the crypto has increased to higher levels and this is further indicating the dominance of buyers at the moment.
The MACD is also giving a buy signal on the daily chart of the crypto. The MACD and the signal line are forming a bullish cross and the MACD is forming bullish histograms.
Conclusion
STX is a layer-one blockchain on Bitcoin that enables dApps with smart contracts. The STX price has surged by 650% in a year and has broken out of a triangle pattern. It has a strong market cap and low supply. At the moment, STX is bullish and could rally further since the buyers are currently dominant.
Technical Levels
Support Levels: $0.4370 and $1.1570
Resistance levels: $1.9400 and $2.4800
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
