The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
Stacks STX/USD is a platform aiming to bring increased smart contract functionality to Bitcoin’s blockchain.
What happened: While the majority of the crypto market is bleeding today, STX/USD is up 13% and STX/BTC is up a modest 21%.
Unlike Ethereum ETH/USD, Bitcoin’s blockchain is not a turing-complete virtual machine, it’s primarily a database for transactions.
While Bitcoin BTC/USD can handle some basic smart contract functionalities, Stacks aims to make Bitcoin a viable competitor to the Ethereum blockchain.
With investments from Y Combinator, Winklevoss capital and Digital currency group, Stacks’ native asset, STX, has made its way into the top 100 cryptocurrencies by market capitalization.
Stacks currently has a market cap of $1.3 billion and $432 million locked on the platform.
On Wednesday, July 7, Stacks released their second-quarter recap and announced new goals.
See also:
You can buy Stacks on Binance, Crypto.com and KuCoin.
The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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