Stacks (STX) is the crypto that has gained the most out of the top 100. The price increase coincides with a 22-month high in the global crypto market capitalization.
As of this writing, STX is trading at $2.67, up 27% over the last 24 hours. Earlier today, the asset briefly reached a 26-month high of $2.8, a price last seen in December 2021.
After the price increase, STX became the 29th-largest crypto when its market cap surpassed the $3.8 billion threshold.
The increase occurs as the value of the entire crypto market exceeds $2 trillion, with Bitcoin (BTC), the most popular coin, approaching $52,000.
Santiment’s data shows that as of this writing, Stacks’ total open interest (OI) had increased from $55 million on February 4 to $118 million. Interestingly, the asset’s overall OI increased by $18 million just the previous day.
Trades are positioned for more bullish momentum as STX prices begin to rise. According to Santiment, STX’s overall funding rate across all exchanges is 0.02% at the moment.
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