Only one cryptocurrency from the top 100 grew by more than 14% per day

Cryptocurrency analysts have singled out the only token from the top 100 that managed to grow by more than 14% per day. The digital asset Stacks (STX) reached $ 0.802, up 14.4% over the past 24 hours.

According to CoinGecko, the market capitalization of Stacks is $ 1.1 billion, putting the token at 43rd place in the top 100 list. The daily transaction volume was recorded at $ 248 million.

Experts attributed the rise in the value of STX to the popularity of BRC-20 tokens. Over the past day, miners have earned even more on commissions than in the Ethereum (ERC-20) network. BRC-20 is an experimental standard that allows you to seamlessly generate and exchange tokens on the Ordinals platform. Digital assets are stored in the main chain of the BTC and are formed on the basis of serial numbers.

The popularity of Ordinals significantly affects various on-chain metrics not only of the flagship cryptocurrency but also of altcoins. Thus, the rapid growth of Conflux, Stacks, and SingularityNET tokens in February was associated with the launch of the Ordinals protocol.

STX is a native token of the Stacks network that supports DeFi, NFT, apps, and smart contracts for bitcoin. STX is used to pay transaction fees and can be blocked directly on the network to receive rewards in BTC. According to analyst Chris Berniske, Stacks is just beginning to «gain popularity among investors,» but the growth in value signals a promising future.