If you have been paying close attention to the cryptocurrency industry even since 2021, you would have observed a particular trend. That particular trend is the rally cryptocurrencies experience on a weekly basis. Every week, a new cryptocurrency rises to fame because of the services and upgrades they make to their systems.
At the beginning of 2021, it was Dogecoin (DOGE) that rose to fame. Then it was Binance Coin (BNB) that gained adoption, then more meme coins gained rally. The trend was followed by other decentralized finance (DeFi) projects, and then platforms on the Polkadot blockchain.
However, there is one particular cryptocurrency that is always the hottest topic in the entire cryptocurrency industry is Bitcoin. The currency has been around ever since the advent of the crypto-industry and it is currently the largest in the entire crypto-verse in terms of market capitalization.
Despite being launched before any other cryptocurrency, the users of Bitcoin had one particular concern around Bitcoin. Being the first cryptocurrency and the starting idea, there was not much that Bitcoin had to offer its users. The only utility Bitcoin offered was to mine them or trade them to make money.
This trend was revolutionized with the launch of Ethereum (ETH) that brought way much more to the cryptocurrency industry. It offered the cryptocurrency industry a vast number of projects that are currently running on its network. One of the most prominent projects offered through the Ethereum network is the smart contract capability.
Since Ethereum’s foundation, several more networks have been launched in the crypto-verse that are offering so much to their users. However, Bitcoin is still at the top and now, the Bitcoin sector is going to grow even stronger.
This is because the Bitcoin teams are now working on different products that they are planning to integrate with the largest cryptocurrency. Just recently, it was the founder of Twitter and Square, Jack Dorsey who shared his thoughts about the growth of Bitcoin.
He recently announced that he is currently working with the development teams in order to build a bridge between the Bitcoin network and the decentralized finance sector.
Stacks (STX) is one of the stop firms that is currently aiming to introduce the DeFi space to the network of Bitcoin. Stacks is a layer-one blockchain protocol that is known for designing decentralized applications and smart contracts for the Bitcoin network.
It was back on June 22 when the price of STX experienced a drop and went down to $0.50. Since then, the price of STX has experienced a rally and until July 11, the price of STX gained an increase of 195%. As of now, the price of STX is hovering around $1.47. Even in the last 24-hours, the price of STX has experienced a 10% increase.
This is mainly because of the announcements made by STX in the Bitcoin network space revealing it is developing several DApps.