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26 July 2021

Stacks (STX) price rallies 195% after revealing plans to bring DeFi to Bitcoin

Stacks (STX) price rallies 195% after revealing plans to bring DeFi to Bitcoin


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One project aiming to combine the features of DeFi with the security of the Bitcoin network is Stacks (STX), a layer-one blockchain protocol designed to bring smart contracts and decentralized applications (dApps) to the Bitcoin network.

Three reasons for the recent strength in STX include the release of the Clarity programming language which brought smart contracts to Stacks 2.0 and Bitcoin, the ability for STX holders to stake tokens for BTC rewards and the arrival of DeFi and nonfungible tokens (NFTs) to the Bitcoin network.

The introduction of the Clarity programming language on Stacks has been the main catalyst of growth for the Stacks ecosystem because it enabled the creation of smart contracts on the Bitcoin network.

 The event was meant to mark the beginning of a new era of smart contracts on Bitcoin and additional bullish news revealed that USD Coin (USDC) will expand to the Stacks network.

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BTC gains 15% in 3 hours amid tight squeeze
published: 32 minutes ago
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cointelegraph.com
Market data feeds provided by cryptocompare.com
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