Stacks STX/USD is a layer-1 blockchain solution that was created specifically to bring smart contracts and decentralized applications (dApps) to Bitcoin (BTC).
These can be added to the blockchain network without affecting any of the features that make it so powerful, which means that neither security nor stability are affected.
Any network activity is dependent on the STX token, which facilitates the execution of smart contracts on the Stacks network. The STX token also serves as a tool for users to publish new smart contracts to the blockchain.
Stacks developments as growth catalysts
Stacks (STX) was the second most traded coin on the Sevenb cryptocurrency brokerage on October 14.
Secret Key Labs launched the Xverse wallet on Android and iOS on October 15, according to Stacks, allowing users to easily manage STX, BTC, and MIA tokens, as well as other SIP-10 tokens, from their mobile devices.
Having said that, the token has been trading a lot, with a 410 percent increase in trading volume in the last 24 hours, which has increased its value significantly.
Should you buy Stacks (STX)?
Stacks (STX) was worth $2.52 on October 18.
To gain a better understanding of the token’s current value, we will compare it to its all-time high as well as its recent performance in September.
When we look at the all-time high value of the Stacks (STX) token, we can see that it was $2.92 on April 5, 2017. We can see that the token was worth $0.40 more at its peak, or 15% more.
However, when we look at September’s performance, we can see that the token’s highest point was on September 4, when it was worth $1.71.
STX’s lowest point was on September 29, when it was worth $1.12. We can see that the token’s value decreased by $0.59, or 34%, between September 4 and September 29.
However, between September 29 and October 18, it increased by $1.40, or 125 percent.
Considering all of this, Stacks (STX) has the potential to surpass its previous all-time high and reach $3 by the end of October, making it a worthwhile investment.