Stu L., an analyst at the popular analytics channel Altcoin Buzz, recently announced an altcoin that he is “ultimate bull” and expects to rise up to 50x. The altcoin that the analyst pointed out is a coin that takes advantage of the latest layer-2 narrative. Here are the details…
Analyst expects bullish for this altcoin
Stu L., of the Altcoin Buzz team, stated that he has added a “super revolutionary coin” to his portfolio. The coin that the analyst pointed out is none other than Stacks (STX). As Cryptokoin.com reported, the price of STX has increased by 230 percent in the last 30 days. But the price is still under $1. Also, the excitement of Bitcoin Ordinals works completely in STX’s favor. Analyst, “Why Stacks?” He answers the question as follows:
There are several good layer-2 options, so it’s a fair question. We’re adding Stacks to our portfolio as it’s the most exciting thing to happen to Bitcoin in a while. It is currently building DeFi for Bitcoin and Bitcoin Name Service. But now with Ordinals, NFTs are in Bitcoin and only use 1 Satoshi block space in doing so.
Given the importance of narratives in the cryptocurrency space, it’s not surprising that the analyst chose STX. One of the biggest narratives right now is layer 2 solutions. Coinbase has announced a layer 2 solution called Base. On the other hand, Bitcoin’s layer-2 platforms including Stacks, Rootstock and Ordinals were busy.
Stacks allows the creation of many applications
But according to the analyst, Stacks offers more than recent hype. Other than Lightning Network, Stacks and Rootstock are the only 2 main layer-2 solutions working for Bitcoin, according to the analyst. Apart from BTC Name Service, the analyst pointed to the following as a few of the “great apps” on Stacks:
- Paradigm-Registrar: Allows you to register decentralized domains and identities without the need to use IPFS like Ethereum does. All secured by Bitcoin.
- Sigle: A Web3 journaling and blogging app so you don’t get censored for what you write.
- USDA: The first USD stablecoin in the Bitcoin ecosystem. Printed with Stacks and secured by Bitcoin.
- Zest Protocol: Bitcoin loans for institutions. Where DeFi and TradFi meet in Bitcoin and more.
The analyst points out that Stacks has built an extensive ecosystem that most of us don’t know much about. “There is a new awareness for Stacks and Bitcoin Layer 2s,” he says, although he thinks the excitement of Ordinals is overrated at the moment. Moreover, he argues that we should have this awareness from the very beginning. The analyst announced that he bought $ 500 STX at the level of 76 cents. In other words, its portfolio currently includes 657 STX.
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