Crypto News

Stacks (STX) token surges by over 30% in the past 24 hours, reaching 22-month high

Stacks (STX) is the crypto that has gained the most out of the top 100

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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