STX decouples, ‘stacks’ up in value

December 19, 2023

By Adewale Olarinde

• STX has increased by over 9% in the last three days.

• Stacks has seen its highest transaction number at the block height of 132,377.

In recent days, Stacks [STX] has shown encouraging signs; particularly noteworthy is its price movement, which has diverged from the overall market trend.

Stacks see an over 200% volume change

According to CoinMarketCap, Stacks has witnessed significant movements in the last 24 hours.

The data showed a notable 10% increase in market capitalization during this period, primarily driven by a consistent uptrend in its price over the past few days.

However, at the time of writing, there has been a considerable reduction in market capitalization due to increased sell-offs, though it still stands at over $1.5 billion.

Source: Santiment

Despite the decline in market cap, the trading volume has continuously risen. CoinMarketCap’s data, as of press time, showed a remarkable 200% increase in volume.

A more in-depth analysis using Santiment data indicated that the volume was over $308 million at present.

The volume chart further illustrates an eventful month, with the press time volume being the highest in recent days, though not the peak for the entire month.

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