Stacks, a layer-2 solution for Bitcoin, has made significant strides this year with many headlines to its name. Stacks' decentralised exchange aggregator
Bitflow is now live on its Bitcoin L2. The platform also prepares for its largest-ever
hard-fork, the Nakamoto Upgrade, signalling a new era. Furthermore, the
SEC has dropped its investigation of Stacks blockchain and its developer
Hiro Systems without enforcing any action. These steps highlight the project's legality and add an extra layer of trust for Stacks investors.
BitGo integrated Stacks for
Bitcoin rewards, following the institutional demand for BTC. The active user base of Bitcoin's Layer-2 network Stacks evidenced a surge, appealing to potential investors with its growing popularity.
Creating a buzz in the altcoin market,
Grayscale Investments announced the launch of new investment trusts - Grayscale Near Trust, and Grayscale Stacks Trust. This development is indicative of the trust's anticipation of Stacks' potential growth. The platform also witnessed a painful setback when Stacks network halted for
9 hours, attributing to a more than
5% drop in the cryptocurrency's value within 24 hours, though it recovered quickly with a over
40% surge from August 5 lows and even crossed the
$2 threshold.
In terms of adoption and application, Stacks was utilized to deploy blockchain nodes on
AWS using the AWS Blockchain Node Runners Stacks blueprint. Moreover, it very innovatively contributed to the vertical farming industry, which a study confirmed 'stacks up'
environmentally.
All these events outline Stacks' growing influence in the blockchain industry, its recovering market value, and steadily expanding user base.
Stacks News Analytics from Wed, 08 Nov 2023 08:00:00 GMT to Wed, 21 Aug 2024 09:31:24 GMT -
Rating 8
- Innovation 9
- Information 8
- Rumor -5
