How to Buy Stacks (STX)

While it is impossible to offer an accurate Stacks token price prediction, several fundamentals play a significant role in driving price action and volatility in the STX coin. These include:

Level of Adoption of Stacks Ecosystem

An uptick in development activity on the Stacks blockchain, leading to the rollout of new dApps, helps the price of STX. As more projects launch on the platform and leverage Stacks’ infrastructure, the higher on-chain activity could drive up the demand for the STX crypto among users and investors.

Future Developments

Whenever developers announce new upgrades that equip Stacks with more features and make it more efficient, investor confidence in its native token enjoys a boost. This, along with announcements about new investments and partnerships, can also raise the STX price in the market.

Market Sentiment

Market sentiment plays a significant role in driving price fluctuations in almost all cryptocurrencies, including STX. The Stacks price could head higher when the market mood is bullish. On the other hand, bearish or risk-averse sentiment among investors could weaken the price of STX token.

$STX is the native crypto asset of the Stacks blockchain and has the following applications:

Incentive Token

$STX incentivizes using the Stacks ecosystem, letting users who help build and maintain the Stacks network earn rewards.

Native Currency

STX is also used to pay transaction fees when using the Stacks network. Users and developers pay using the $STX token when executing smart contracts, performing computational operations, and interacting with dApps.

Earn BTC Via Stacking

Stacks also lets STX holders earn Bitcoin by stacking their STX tokens on the network. Stacking is part of the PoX consensus mechanism, where users must lock their tokens while providing valuable services to the blockchain.

Crypto Asset to Trade and HODL

Trade Stacks cryptocurrency against other digital assets and profits from changing market conditions and volatility. Buy or sell STX against other cryptocurrencies or hold it long-term if you believe in the future potential of the Stacks blockchain. Check the live price of Stacks token, STX market cap, circulating supply, 24-hour trading volume, and the latest crypto news before trading STX in the market.

Earn Passive Income on KuCoin

Grow your STX holdings in a safe and risk-free way with KuCoin Crypto Lending. Head to this section and lend liquidity in STX to our platform. Earn attractive daily interest over seven days, 14 days, or 28 days.

As of February 2023, the circulating supply of STX tokens stands at a little over 1.36 billion. This is around 75% of the token’s max supply, just over 1.81 billion. The circulating supply changes based on the mining frequency as more Stacks blocks are mined, and rewards get distributed.

You can temporarily lock your STX holdings and contribute to improving the Stacks network’s security, earning BTC in the process. This process is known as stacking.

Here’s how you can stack STX on the Stacks blockchain using Hiro Wallet to earn Bitcoin:

1. Download and install the Hiro Wallet browser extension or desktop app on your web browser or computer, respectively.

2. Set up an account on the wallet and fund it with sufficient tokens by buying STX on KuCoin or other supported exchanges and withdrawing the funds to your Hiro Wallet account.

3. Click on Get Started to head to the “Start earning Bitcoin” section of the wallet.

4. Enter the number of $STX tokens you wish to stack and click on Continue.

5. Check when the next stacking cycle will begin and select the number of cycles you wish to stack your tokens for. Each cycle lasts seven days.

6. Enter your Bitcoin address where you wish to earn your stacking rewards and click Continue.

7. Confirm the transaction with your wallet, sit back, earn BTC rewards, and grow your crypto portfolio by stacking STX.