Stacks (STX) Jumps Over 32%, Collaborates With OKCoin In Latest Bitcoin Project

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 While Bitcoin (BTC) recorded a decline today, followed by some major altcoins such as Solana (SOL), and Cardano (ADA), Stacks (STX) recorded a remarkable increase in 24 hours!


Based on current observations, STX traded at $ 1.41, jumping over 32% and nearly 22% for a record week.


What happen?


In the latest announcement, the Asian crypto exchange - OKCoin announced a partnership with Stacks to bring the importance of the Web 3.0 revolution to the Bitcoin network.


Through its latest project, OKCoin has also made an investment of $ 165 million (RM692 million) to support a number of decentralized application development projects - ‘The Bitcoin Odyssey’ in Bitcoin.


TBO also receives support from entities that include several companies: Digital Currency Group, White Star Capital, and GSR.


OKCoin's head of listing, Alex Chizhik explained that the initiative is indeed a joint effort but is decentralized without hierarchy.


In fact, Bitcoin’s choice is due to its potential as a fully decentralized network for the entire ecosystem. It is only fitting that Bitcoin be the main focus in the adoption of crypto.



But investors need to know that Bitcoin is still not sufficiently explored.


The proof is, these networks are not yet capable of running decentralized applications (dApps) or supporting complex support just like an old computer.


So, the effort between OKCoin and Stacks is expected to take a very long period of time!


Anyway, let's wait and see how Bitcoin's growth catches up with the already advanced networks!


Stacks Details (STX)


Stacks is a layer-1 blockchain that utilizes Bitcoin network protection using the Proof of Transaction (PoX) mechanism.


Essentially, Stacks acts as a computational layer and at the same time uses Bitcoin as a solution layer.


STX is a native token that helps and accelerates the execution of smart contracts in Stacks.

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