STOCKS TELEGRAPH

Tag: STX

  • Why is Stacks (STX) Pumping?

    Bitcoin is as often as possible scrutinized for its shortage of uses. Indeed, it tends to be utilized to make an exchange, yet financial backers are bound to purchase and hold the resource as opposed to spending it because of its extreme costs. In any case, there are different drives accessible to resolve this issue. Stacks is one of the most notable of these. Through its own layer-1 organization, it is endeavoring to add to the improvement of the Bitcoin ecosystem. Also, today, the Stacks digital currency, STX, is partaking in a few huge additions on the rear of reports of a significant new designer exertion.

    Stacks is a layer-1 blockchain stage that means to interface Bitcoin to new applications. The Stacks network has developed to incorporate more than 20 decentralized applications since its beginning three years prior (dapps). Clients can mint and trade non-fungible tokens (NFTs), join crypto mining pools, send private texts to different clients, etc, utilizing these applications.

    This might seem like some other layer-1 organization, however, to interface with Bitcoin, Stacks adopts an original strategy to the innovation. For information capacity, the Stacks layer is based on top of Bitcoin’s base layer blockchain. This implies that Bitcoin monitors all Stacks network exchanges on its own chain. Everything on Stacks is eventually intervened by Bitcoin, and everything is containerized on Bitcoin.

    STX is used to drive the organization’s exchanges. It’s likewise a not unexpected method for cultivating Bitcoin property; by locking STX on the organization, one can “stack” their resources. This outcome in BTC grants.

    Why is Stacks (STX) Pumping?

    The Stacks network is working on a project called Bitcoin Odyssey with Okcoin, a cryptocurrency exchange. The project is a one-year commitment to boost Bitcoin and Bitcoin-related technology adoption. Venture capital businesses that helped form the committee will put up a total of $165 million through Bitcoin Odyssey to fund the creation of goods for the Stacks network. White Star Capital, Digital Currency Group, and Alumni Venture Group are among the companies that have contributed to the incentive.

    This is unquestionably significant for the Stacks cryptocurrency. The network is seeing a tremendous infusion of working capital for goods in every fashionable area, including the metaverse, Web 3.0, and non-fungible tokens, among others. Developers will also be able to build on top of existing projects on the Stacks network.

    The STX currency is experiencing significant price volatility as a result of favorable news. It is currently increasing by approximately 37%. Furthermore, trading volume is hitting new all-time highs for a 24-hour period. Today, nearly $381 million in STX is traded, a significant rise over yesterday’s volume of $18 million.

  • Seagate Technology Holdings plc (STX) stock is on rise – Learn why?

    Seagate Technology Holdings plc (STX) experienced an increase of 6.95% in the aftermarket following the announcement of fiscal second-quarter 2022 results and a new appointment to its BoD. However, the last trading session closed at $96.31 with an increase of 1.61%.

    Fiscal Second Quarter 2022 results by STX – What’s new?

    STX announced fiscal second-quarter 2022 results on 26th January 2022. The company reported net revenue of $3.12 billion. Moreover, the cash flow from operations was $521 million with a GAAP operating margin of 18.6%. Seagate had a great year in the calendar year 2021. The company noticed increased revenue by 18% year over year. The company achieved a 39 percent increase in free cash flow, which we are putting to good use in the long-term capital return program.

    Now what?

    The calendar year was closed off with a robust December quarter, which saw the company achieve the best revenue level in over six years. This was possible because of a cloud data center interest for the larger capacity nearline products. With positive demand trends supporting revenue expansion consistent with the long-term financial model range of 3-to-6 percent annual growth, the company looks to improve on the 2021 performance this calendar year and beyond, assuming any substantial new economic challenges.

    Appointment of Yolanda Lee Conyers by STX – More About it

    On 25th January 2022, STX announced that the company has appointed Yolanda Lee Conyers to the board of directors. Ms. Conyers has worked in roles ranging from technology to global operations to talent management for more than 30 years. Moreover, she oversaw Lenovo’s human resources strategy and advised various executive members of the committee.

    The company is very happy to welcome Yolanda to the Board of Directors. Yolanda is a well-known global human resource leader with experience in organizational and leadership development. Furthermore, her vast technology sector experience and considerable knowledge will be a valuable addition to the Seagate board of directors, and she will assist the efforts to build a more diverse and inclusive workforce to create successful business outcomes.

  • dApps for Bitcoin – Stacks (STX)

    dApps for Bitcoin – Stacks (STX)

    Cryptocurrency has taken the world by storm, and the original cryptocurrency, Bitcoin, has been instrumental in this. Bitcoin is without a doubt the “King” of the market, with a price of $47,723.08 at the time of writing. However, bitcoin is not without flaws. Along with the desire to have their inventiveness recognized by the general public, the majority of other developers have strayed from the Bitcoin path and attempted to carve out their own niche in the market. This is exemplified by Ethereum. Stacks (STX) thinks Bitcoin will lead the future.

    Stacks 2.0 (STX), on the other hand, feel that Bitcoin is the cryptocurrency of the future. Bitcoin will gradually be used to build decentralized applications and use cases. This, they say, can be compared to the early Internet boom, when, despite the presence of other competing protocols, TCP/IP emerged as the winner, and everything on the Internet was eventually built on it. The same is true for Bitcoin.

    Stacks (STX) is a consensus algorithm developed by Princeton and MIT academics that is distinct from any previous consensus algorithm. It is a consensus mechanism between two blockchains. This is the Proof of Transfer (PoX) protocol, which connects the Bitcoin and Stacks blockchains and enhances Bitcoin’s capabilities. The basic Bitcoin chain elects a new leader, after which new blocks are put on the related Stacks chain.

    The Stacks 2.0 (STX) is a layer-1 blockchain that will introduce Bitcoin smart contracts and decentralized apps. It promises two blockchain benefits: first, scalable transactions, and second, general-purpose smart contracts that use the Bitcoin blockchain without modifying it. Stacks miners can use Bitcoin to mine freshly created Stacks. Stacks holders, on the other hand, can lock their STX in consensus to earn Bitcoin.

    Price Movement

    At the time of writing STX is being traded at the price of $2.15 with a decrease of almost 13% in the last 24 hours. STX is a really strong token fundamentally. The maximum and minimum today are $2.48 and $2.14 respectively. The daily trading volume has decreased by almost 42%. STX had created its ATH in December 2021 and reached a price of almost $3.26. After the reversal, STX has a circulating supply of almost 1.29B coins and a total supply of almost 1.81B. It is listed on coinmarketcap at rank 54th. It can be exchanged on Binance, KuCoin, OKEx.

    Price Prediction – Stacks (STX)

    According to wallet investor thinks that STX is a good investment. According to them, in one year, STX would be worth around $3.813. In five years, the price is expected to reach a value of $9.156.

  • Stacks (STX) – Where will it move Now?

    According to coinmarketcap, the total supply of STX is around 1.8B STX, and around 1.0B of the STX are in circulation at the moment. It holds the 63rd rank according to market cap and has a market dominance of about 0.10%.

    At the time of writing STX is being traded at the price of $2.33 with an increase of almost 18% in the last 24 hours. The maximum and minimum today are $2.38 and $1.87 respectively. The daily trading volume has also increased by almost 194.00%. STX had created its ATH in December 2021 and reached a price of almost $3.256. The price during the crash dropped down to a price of almost $0.50 in the month of July 2021. Overall the price is moving to higher highs. In November, we saw an increase of almost 50%. This month, we have seen a decrease of almost 18%.

    Technical Analysis 

    On the daily time frame, we can see that the price has been ranging in a zone. At one point, the price did a massive move upwards and grabbed all the liquidity above. After this move, the price fell down again to come back and close in the same level.

    It can be seen that the price had followed the channel in a very good way. STX had bounced and got rejected from the level many times.

    STX - 1D

    Now the point of interest is the daily order block. This order block was formed when the price broke upwards and shifted the structure of the market. Now until now, this order block has remained unmitigated. We can expect the price to drop down and touch the level from where we can look into a possible long position.

    Lower time frame confirmations should be taken into consideration as the price can bounce from the zone itself instead of coming down to the level of order block. Failure of this scenario would be price moving upwards and stabilizing above $2.45 in which case this case would be invalidated.

    Price Prediction – Stacks (STX)

    According to the traders, STX is a good investment and is providing a great return. Wallet investor considers STX to be a really good investment as well. According to them, in a year the price is expected to reach a value of $3.249. In five years the price is expected to reach a value of $8.890.

  • DApps for Bitcoin – Stacks (STX)

    Cryptocurrency has taken the world by storm and it has done this through the first cryptocurrency, Bitcoin. Bitcoin is no doubt the “King” of the market with the price of the coin, at the time of writing, is $57,023.08. But bitcoin does have its problems. Along with egos to have their ingenuity recognized by the public, most other developers have ventured off from that of Bitcoin and have tried to make their own mark on the market. Ethereum is an example of this.

    But Stacks 2.0 (STX) believes that the future of cryptocurrency is Bitcoin. Decentralized applications and use cases will gradually be constructed on Bitcoin. This, they believe, by analogizing the same during the early Internet boom and, while there were different kinds of competing protocols, TCP/IP had emerged as the winning standard, and everything on the Internet was eventually built on it. The same can be said for Bitcoin.

    Stacks (STX), developed by Princeton and MIT scientists, employ a consensus algorithm separate from any other which is a consensus algorithm between two blockchains. This is the Proof of Transfer (PoX), that connects the Bitcoin and the Stacks blockchains and extends the functionality of Bitcoin. Leader election occurs on the base Bitcoin chain, and subsequently, novel blocks are written on the connected Stacks chain.

    The Stacks 2.0 (STX) is actually a layer-1 blockchain that is to bring smart contracts and decentralized apps to Bitcoin. It proposes two beneficial features to blockchain; the first is scalable transactions and the second is the general-purpose smart contracts using the Bitcoin blockchain without changing it. The miners of Stacks can employ Bitcoin to mine newly minted Stacks. On the other hand, Stacks holders can lock their STX in consensus to earn Bitcoin, making STX a unique crypto asset that is priced in BTC and gives BTC earnings.

    Current Price – Stacks (STX)

    At the time when this article is being written, the current value of STX, the native token of Stacks is, $2.75, which is a 27.25% increase over the past twenty-four hours. The current trading volume of the coin is $663,004,640 with an increase of trading volume of nearly 340%. The monthly high of the coin of $3.80 was reached just a week ago but aftermarket corrections, the market came down again. But the prospects of the coin do look bright. The Stacks ecosystem is slowly growing such ALEX (Automated Liquidity Exchange) announcing it raised $5.8 million for decentralized finance (DeFi) on Bitcoin. Some analysts predict that the coin is going to hit the $4 mark soon.

  • Stacks (STX) Coin – What does the Chart Tells us Now?

    At the time of writing STX is being traded at the price of $2.06. The price has decreased by almost 7.47% in the past 24 hours. STX created its all-time high around the value of  $2.850 in April 2021 before the drop to a value of $0.500. The daily trading volume has decreased by almost 24.06% in a day. The total supply of STX is around 1.352B tokens. The circulating supply is around 1.28B STX.

    The Native Token – Stacks  (STX)

    The native token of Stacks is known as STX. STX has a variety of use. It is used for the execution of smart contracts. It is used for transactions and also for registering new assets on Stacks. STX is listed on coinmarketcap at 65th position and has a market dominance of about $0.10.

    Technical Analysis- Stacks (STX)

    Stacks (STX) has been one of the coins that have been slow to gain pace but are slowly gaining more and more. The chart at the moment is showing bearish movement.

    The price moved up by creating an order block which eventually broke the structure towards the upside. It continued to create a higher high till a point came from where it wasn’t able to create a new high. That was a sign that the market structure is shifting bearish. From there lower highs and lower lows were created and a drop in price occurred.

    Stacks (STX) - 1D

    The price was bouncing from a trend line (it had bounced 3 times in total). But overall, the order block still hasn’t been mitigated and the way STX is losing steam, it might not bounce the next time it touches the trend line. If it drops to the order block, we can expect the price to shift structure. But this drop would only come into play if the trend line doesn’t hold. If it holds we can look for a bullish price movement, even if it is for a short period of time.

    Price Prediction – Stacks

    In the long run, STX is a good opportunity. According to the wallet investor, the price of Stacks is to reach a value of $3.419 in a year. For a five-year plan, the price will reach a value of $8.230. But the investors are even more bullish on the value and they think that it will reach even more.