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Stacks (STX) is a cryptocurrency that recently saw strong volatility. Its price was strongly affected by the market in the last seven days. However, the token managed to recover its losses, and right now, it sits about 2% higher than where it was a week ago.
Stacks’ Very Volatile Week
Stacks started the last seven days with a price of $0.461 late on September 7. The next day, its price surged to $0.474, only to be rejected by a resistance at $0.48 and pushed back to $0.45. The token attempted to recover over the next few days, but it only reached $0.47 before being rejected again.
This new drop started on September 10, and over the next two days, STX price rashed to nearly $0.42. Its lowest point this week was seen this Monday, September 11. At the time, STX hit bottom at $.4239. However, only hours later, it surged back up, climbing to $0.45, only to find that this level had also become a resistance.
Recovery Brings Token Back to $0.47
After spending the next 24 hours trying to breach the resistance, it finally managed to do it on September 13. The token rose to its next resistance following the breach at $0.46. Like the last one, this one also took time for Stacks to go through, but it finally managed to do it only hours ago, on September 14.
Right now, the token is trading at $0.47, and the sharp rise of the past hours would suggest it has gained a lot of positive momentum. The big question is whether it will also manage to breach $0.47. Its sharp rise is also likely to result in an equally strong rejection.
Should the bullish market remain strong, STX might continue its surge. However, keep in mind that multiple factors could affect the token’s value in both a positive and a negative way.
New Opportunity for Buyers Emerges on the Binance Smart Chain
While Stacks’ short-term price has yet to be seen, many in the crypto industry have been turning to a new opportunity that emerged on Binance’s BSC. The exchange’s DeFi-centric blockchain recently saw a new presale launch by a Bitcoin BSC (BTCBSC) project. The token offers the ability to buy a BSC version of Bitcoin. However, this is something other than Bitcoin that currently struggles to remain above $26,000. Instead, it offers an understanding of BTC from 2011, when its price was only $1. That is why the token is selling for only $0.99.
The new project allows users to buy BTC before it goes big. Of course, there is no guarantee that BTCBSC will perform the same way as BTC itself did.
However, this token has a few advantages over the original BTC. It runs on a more scalable BSC, and once it goes live, it will allow users to stake their cryptocurrency. Like Bitcoin mining offers block rewards every 10 minutes, so will the staking. The presale is extremely popular and has already raised over $1.85 million in less than a week. If you wish to join, you can buy BTCBSC with ETH, USDT, and BNB.
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