Table of content

Stacks Token (STX): Everything you Wanted to Know Before Investing!

Stacks token (STX) is one of the most popular cryptocurrencies in the crypto market currently. In terms of market cap, it is currently the 67th largest digital currency (over US$2.55 billion in market capitalizations). Should you invest in it? Is it a good investment? To answer all your queries, let me walk you through the STX coin, how it works, and many more.

What is the Stacks token (STX)? How does it Work?

What is Stacks? What is Stacks Token (STX)?

Stacks is a layer-1 blockchain solution, which has been designed in such a way so that both smart contracts and DApps (decentralized applications) can be brought to Bitcoin (BTC). This solution brings smart contracts to Bitcoin by keeping the coveted features such as security and stability intact.

As the decentralized applications are open as well as modular in nature, developers can build their own applications on top of each other’s apps for producing features that aren’t possible in a regular application. Bitcoin is used by the Stacks solution as a base layer. This ensures that everything happening on the network gets settled on the Bitcoin blockchain, arguably the most secure blockchain in operation currently.

The Stacks token (STX) powers the platform. STX is used to:

  • Fuel the execution of smart contracts
  • Preocess transactions
  • Register new digital assets on the Stacks 2.0 blockchain

Who are the Founders of Stack?

Stacks platform was earlier known as Blockstack. However, it was only in the 4th quarter of 2020 that it was rebranded to Stacks for separating “the ecosystem and open source project from Blockstack PBC”. It was only in January 2021, the mainnet for Stacks 2.0 was launched.

Multiple major venture capital funds including Winklevoss Capital, Digital Currency Group, and Y Combinator funded Stack initially. However, the development of the project was done by New York headquartered Blockstack PBC, which now operates as Hiro Systems PBC. To build the platform for Stacks, it has joined a wide array of companies. Muneeb Ali and Ryan Shea had founded the Blockstack PBC.

What’s so Special about Stacks?

The best thing about Stacks is that it uses Proof of Transfer (PoX) consensus mechanism to add functionalities by retaining the powerful aspects of the Bitcoin blockchain without the requirement of hard fork. As per the PoX mechanism, the miners pay in BTC for minting new Stacks tokens STX. The holders of STX tokens can stack (not stake) their tokens for earning BTC as a reward.

Clarity, a new smart contract programming language, has been introduced by Stacks. This language is secure as well as easy to build because of the unambiguous syntax involved. The Algorand (ALGO) blockchain also uses this smart contract-centric programming language.

A major point in favor of Stacks is that Stacks is the first ever crypto that received qualification from the SEC (U.S. Securities and Exchange Commission) for a sale in the US. This paved path for the STacks project to launch a US$28 million Reg A+ sale cash offering for its STX tokens in July 2019.

Stacks token (STX): Facts & Figures

All these facts and figures (as of November 25, 2021) will help you to make a decision on investing in the Stacks token. Before making STX token transactions, check out these facts and figures associated with this cryptocurrency of choice:

  • Stacks STX Price: US$1.98 (Current Stacks Price)
  • 24hour Trading Volume (24h Volume): US$70,052,091
  • All-Time High (ATH) Price: US$3.61 (reached on Nov 16, 2021)
  • All Time Low (ATL) Price: US$0.04501 (reached on Mar 13, 2020)
  • 24h Low: US$1.92
  • 7d Low: US$1.87
  • 30d Low: US$1.78
  • 90d Low: US$1.11
  • 52 Week Low: US$0.2058
  • YTD (Year-To-Date) Return: 355.95% YTD (Year-To-Date)
  • Market Cap: US$2,546,019,764 (US$ 2.55 billion)
  • Crypto Rank (in terms of market cap): 67th in the crypto market
  • Fully Diluted Market Cap: US$3,599,698,284
  • Max Supply: 1,818,000,000
  • Total Supply: 1,352,464,600
  • Circulating Supply: 1.29B STX (71%)

These are the facts that made the STX coin a preferred medium of exchange. Always check out market data and technical analysis before trading or investing. Also, consult crypto financial advisors and get tips from them on trending coins, know the ways of buying cryptocurrencies, and how to earn crypto easily.

STX Token Price Prediction

  • According to Wallet Investor, the average price of STX is going to reach around:
  • US$$3.419 by 2022
  • US$8.230 by 2026
  • According to Digital Coin Price, the average price of STX is going to reach:
  • US$3.04 by 2021-end
  • US$3.6 by 2022
  • US$4.43 by 2023
  • US$5.2 by 2024
  • US$6.01 by 2025
  • US$7.51 by 2026
  • US$8.06 by 2027
  • US$9.63 by 2028
  • According to Gov.Capital, the average price of STX is going to reach:
  • US$3.052 by 2022
  • US$4.524 by 2023
  • US$5.362 by 2024
  • US$6.296 by 2025
  • US$7.146 by 2026

Where can you Buy Stacks tokens?

You can buy STX coins in almost all reputed cryptocurrency exchanges including:

  • Binance
  • KuCoin
  • Gate.io, and many more.

You can use credit cards, debit cards, or money transfers from a bank account to fund your cryptocurrency trading or investing account in a leading cryptocurrency exchange.

The most popular price pairs of STX are:

  • STX/USDT
  • STX/BTC
  • STX/BNB
  • STX/BUSD, and many more.

Before investing, check out historical data of token STX, crypto news, Stacks token price charts, price performance, market updates, STX to USD (United States Dollar) exchange rate, the value of STX, trading fees, and others.

What are the Best Crypto Wallets to Store STX Coins?

The best Stacks token wallets to store STX coins are:

  1. Ledger Nano X
  2. Ledger Nano S
  3. Trezor Model T
  4. KeepKey
  5. Coinomi

Invest in Stacks token and Other Cryptocurrencies

You can buy and sell STX and other virtual currencies against various fiat currencies (US Dollar USD, British Pound Sterling, Canadian Dollar CAD, South Korean WON, Singapore Dollar, Taiwan Dollar, Russian Ruble, Chinese Yuan, Hong Kong Dollar, etc.) through a wide array of crypto exchanges (centralized or decentralized exchanges), crypto APIs or mobile app, and Stacks token markets. Use Dollar Cost Averaging DCA strategy to invest in cryptos to minimize the risks associated with high volatility.

If you want to increase your investment explosively in the coming 5-to-10 years, buy crypto coins now. Keep an eye on the market news, price statistics, block times, blockchain news, and others to time your trading of Defi protocols and tokens for maximum profit.

You can also diversify your crypto coin portfolio by including other digital assets such as STX, XMR, FIL, ETC, WBTC, BCH, BTC, AAVE, Ripple XRP, Bitcoin Ether ETH, Bitcoin Gold (also called Bit Gold), Bitcoin Cash BCH, Basic Attention Token, Ethereum Classic, Shiba Inu SHIB, Binance Coin, Wrapped Bitcoin (some also call it wrap bitcoin or wBTC), USD Coin, Gemini Dollar, ERC20 tokens (created on Ethereum blockchain), nonfungible tokens NFTs, and others.

Invest in cryptocurrencies, various types of stocks, mutual funds, index funds, real estate, and others to improve your personal finance. If possible, get help from a portfolio manager or wealth management firm for maximum return. You can also increase your income through yield farming, using STXegram bots and other automated trading bots, and many more.

Invest in NapBots: A Dynamic Cryptocurrency Index

Whether you are a professional or retail investor, you can expose your capital to a diversified portfolio of digital assets & crypto asset classes by simply investing in NapBots. It is a smart crypto index service that introduces multifarious features and passive portfolio management strategies for enabling cryptocurrency investors to streamline their trading experience in new ways.

NapBots provides you various indices that include a basket of tokens with high market capitalization and are categorized by theme (such as Solana, NFT, DeFi, and others). This platform introduces an intuitive interface as well as advanced allocation tools for enabling new investors to create and manage advanced crypto indices easily.

The best part of NapBots is that it tracks and executes trades automatically on the basis of your pre-set choices of indexes. The platform is very affordable as it enables you to start trading as low as US$150 with a monthly service fee of just 2.5%, which is far below the current rate of other cryptocurrency index providers. Therefore, NapBots reduces the financial barriers and at the same time eliminates the need for human intervention and the consequent human error.

Get started with crypto-asset investing by investing through napbots.com, a dynamic crypto index for expanding diversified exposure to bitcoin and leading Crypto-assets at reduced financial barriers and no human error.