The growth of a relatively new blockchain has caught the attention of the crypto market. A Stacks, second-layer cryptocurrency based on the Bitcoin network, showed a significant appreciation in February. With a high 256,24% no period of 30 dias, the financial company recorded the second best performance among 100 best cryptos on the market.
According to data released by CoinMarketCap, Stacks reached the US$ mark 0,9723 in quotation, conquering space among the main and best cryptoactive projects. According to segment analysts, This investment would be the result of a partnership signed by the blockchain with another Bitcoin project, or Ordinals.
ordinals: what is it??
The project gained popularity among the end of 2022 and the beginning of this year for enabling non-fungible tokens (NFTs) no Bitcoin redemption system. The news caused activity among users of the largest existing crypto to reach the highest value since May 2021. Evidently, Bitcoin partners also directly benefited from the project.
Like this, the cryptoactive market predicts continued growth and appreciation of Stacks. Although, for that, the project will need to be widely accepted, reversing to an increase in the number of blockchain users. The project developers would already be committed to increasing and qualifying the integration with Ordinals.
In the end, One challenge for Stacks is to overcome current complaints about flaws in usability and transactions. Furthermore, There is another controversy surrounding the case. Several Bitcoin enthusiasts argue that the blockchain was not developed for non-financial activities and to house NFTs, smart contracts and applications.
Stacks wins 9 positions
Stacks appeared in 2021 as a solution for users who wanted differentials such as NTFs, smart contracts and decentralized finance protocols. Now, with the recent appreciation and market capitalization, blockchain went from 50th to 41st place among cryptoactives.
Nonetheless, market investments were driven by the security guaranteed by the great Bitcoin. Em 22 In February, the company underwent network updates that allowed compatibility with other projects linked to the market leader. Like this, Stacks becomes one of the first blockchains to allow the minting of Ordinals tokens.
