Stacks (STX) Rises Another 12%, Bitcoin Flat at $23,000: Weekend Watch

Stacks (STX) Rises Another 12%, Bitcoin Flat at $23,000: Weekend Watch

After falling about $1,000 and hitting a multi-week low below $23,000, Bitcoin has calmed down and is just above that line amid low trading volumes.

Altcoins are also quiet today given trading volumes, apart from Stacks and Lido Dao, both of which are up by impressive percentages.

Bitcoin Flat at $23,000

Bitcoin has attempted to reach $25,000 three times in the last 10 days, with the most notable surge coming in the middle of last week when it shot up by $3,500 on Thursday.

Volatility only increased as BTC slipped below $23,500 shortly after, while its last attempt at $25,000 came on February 21st. Bitcoin briefly jumped above this line but was quickly rejected and fell back to $23,500.

After another price increase to $24,600, US PCE data came out and Bitcoin fell by almost $1,000 in hours. It fell to a 10-day low of $22,800 (on Bitstamp).

The cryptocurrency has recovered somewhat and is just inches above $23,000. Its market cap is close to $450 billion, while its dominance over altcoins is quiet at 42.2%.

BTCUSD. TradingView

STX steals the show

One of the best performers in recent weeks has been Stacks due to its relationship with the much-hyped NFT ordinals on the Bitcoin network. STX had skyrocketed 160% weekly a few days ago and there were predictions that it could continue its upward trajectory until it becomes a multi-billion dollar token.

The last 24 hours brought another impressive 12% increase, taking STX above $0.75.

LDO is the other notable gainer on a daily basis, up 6% and trading near $3.

The rest of the large-cap alternatives are quieter. Ethereum is still at $1,600, while RippleCardano, Polygon, Dogecoin, Solana, Polkadot and Shiba Inu are with small daily losses.

However, overall, the cumulative market capitalization has still remained at $1.060 trillion.

Overview of the cryptocurrency market. Quantify crypto