This year has been a tough sail for Stacks since May 2022, when the Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of STX.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for Stacks to reclaim its all-time high in 2023? Continue with the article to learn about Stacks price analysis and prediction by Coinpaper.
What is Stacks?
Stacks, formerly Blockstack, is an open-source and developer-friendly blockchain-based platform that allows to build smart contracts, DApps, and NFTs on Bitcoin. Stacks blockchain uses Bitcoin as its base layer, similarly to the Lightning Network, which makes it secure and stable. The platform is powered by its native STX token, which is used to pay gas fees for executing smart contracts, processing transactions and registering new digital assets on the Stacks blockchain.
Stacks (STX) price
Currently, Stacks Price is USD. STX has a circulating supply of coins and a total supply of . If you are looking to buy or sell Stacks, Binance is currently the most active exchange.
|Fully Diluted Valuation
Stacks price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish Stacks 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see Stacks price at $1.35 to $1.46. On the flip side, a fading interest in the new meme coin may push the price of Stacks to $0.38-$0.21 lows.
Stacks price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to Stacks (STX) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of Stacks to climb as high as $1.72, with the more distant prospect of reaching $1.96 in 2024. The bearish scenario is likely to see Stacks (STX) trading between $1.56 and $1.24 in 2024.
Stacks price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our Stacks (STX) price analysis and prediction is based on pure speculation and observation of Stacks historical price movements.
Our Stacks 2025 price forecast expects STX to rally towards $2.21 and reach $2.98 by the end of the year. The bearish scenario would see Stacks at $2.04 to $1.62.
Stacks (STX) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for Stacks is neutral. In 2026, we expect Stacks to reach at least $3.63 before climbing higher to $4.11. In case of a bearish scenario, Stacks may fall to $3.21.
Is Stacks (STX) a good investment?
Since STX token has a solid utility case as a native token of the smart contracts platform on Bitcoin, it can be a good addition to the altcoin allocation in your portfolio. Moreover, the token has a potential to greatly appreciate in value due to the rise of Ordinals NFTs, which drew attention to the non-payment use cases of Bitcoin. However, bear in mind that investing in cryptocurrencies carries a high degree of risk, so make sure to do your own research before investing in any token.
Are you ready to invest in Stacks? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy STX from many crypto exchanges, including Binance
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
Who created Stacks?
Stacks project was launched in 2018 by Muneeb Ali and Ryan Shea.
What was the all-time high for Stacks (STX) ?
The all-time high price of Stacks is $ on 2021-12-01