Bitcoin L2: Stacks' latest upgrade causes a stir among STX holders - Why?

The Exciting Rise of Stacks [STX] After Nakamoto Upgrade Approval

After a long-awaited decision, the Stacks community has given the green light to the Nakamoto Upgrade. This upgrade promises faster transactions and decreased MEV associated with bitcoin transactions. And the community’s excitement was evident as both STX and TVL saw a significant jump following the approval.

### STX Price Surge

Following the announcement of the upgrade approval, STX’s price soared by 17.34% in just 24 hours. This impressive performance outdid bitcoin‘s, despite Stacks being a Layer-2 on the network.

### Enhanced Security and Value

The approval of the Nakamoto Upgrade not only affected STX’s price but also pushed the Total Value Locked (TVL) to an all-time high of $156.52 million. This increase in TVL signifies the community’s confidence in Stacks, making the network more secure and valuable.

### Positive Metrics

Market participants are optimistic about Stacks’ future, evident from the surge in developers’ activity and code commits. The rise in these metrics hints at potential new features and improvements coming soon.

### Moving Forward

With the Testnet set to go live on the 25th of March and the Mainnet expected to be activated between the 15th and 29th of May, the Stacks community eagerly anticipates the future developments and advancements with the Nakamoto Upgrade.

Is your portfolio green? Check the Stacks Profit Calculator to see how this exciting news might impact your investments.

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By Team