• Stacks achieved a milestone with 10,371 transactions in block 132,377, attributed to STX20 inscription minting.

  • Stacks native token, STX, saw a 13% increase in value due to the surge in transaction activity.

  • Crypto investor Crypto Tony sees potential for STX expansion, suggesting a bullish outlook above $0.88.

According to the latest on-chain data, the Bitcoin smart contract layer Stacks achieved a significant milestone by recording 10,371 transactions in block 132,377.

The Bitcoin smart contract layer Stacks contained 10,371 transactions in block 132,377, or the most transactions ever in a block on Stacks, driven primarily by STX20 inscription minting activity on the Stacks. Stacks token STX also gained 8% as a result. https://t.co/2qMEh3AJ1j

— Wu Blockchain (@WuBlockchain) December 18, 2023

This notable number was shared by Chinese journalist Colin Wu and has been attributed to the vigorous activity related to STX20 inscription minting on the Stacks platform. Notably, the surge in transactions has had a tangible impact on the Stacks native token, STX, witnessing a 13% increase in its value at the time of writing.

The impact of this achievement is not confined to transaction records alone. It also affected the value of the native Stacks token, STX. Following the surge in transaction activity, STX exhibited a 13% increase in its value at press time. 

The 24-hour trading volume also surged by 186% and stands at $258 million. Crypto investor Crypto Tony recently shared an update about STX on X, mentioning that STX looks good for expansion and that it is bullish above $0.88. At press time, STX is trading at $1.17, which, according to the analyst’s predictions, might be seen as a bullish outlook. 

$STX / $USD – Update Bullish above 0.88c, set for expansion soon. Setup looks good pic.twitter.com/TI4DBlISjV

— Crypto Tony (@CryptoTony__) December 17, 2023

Furthermore, another crypto trader who’s known on X by the username “Trade4ddict” also mentioned that STX looks strong after a “rectangle plate out” on the daily chart. Moreover, the crypto trader also stated that if Bitcoin comes up with a range breakout, STX has the potential to outperform.

The post Bitcoin Layer Stacks Sets Record With 10,371 Transactions in a Single Block appeared first on Coin Edition.

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