Key Notes
- STX is up over 17% in 24 hours, now trading near $0.88.
- BitGo’s integration of sBTC marks a major step toward institutional adoption.
- Stacks’ DeFi ecosystem saw a 400% jump in stablecoin supply in Q1 2025.
Bitcoin layer-2 protocol Stacks (STX) has recorded a 50% value gain over the past seven days. At the time of writing, STX is trading near $0.88, up by over 17% in the last 24 hours.
The token’s market capitalization has swelled by around $45 million this week, reaching $1.35 billion, according to CoinMarketCap.
The sharp rally comes as crypto custody provider BitGo announced on April 22 that it will integrate sBTC, Stacks’ synthetic Bitcoin derivative pegged 1:1 to BTC, into its platform.
This move allows BitGo clients to generate yields using Bitcoin, without compromising its security or decentralization principles. The addition of yield-bearing sBTC to BitGo’s custodial services is expected to attract institutional interest by bridging Bitcoin’s liquidity with the Stacks DeFi ecosystem.
Notably, the withdrawal functionality for sBTC is scheduled for April 30, enabling institutions to seamlessly switch between BTC and sBTC.
Liquidity Increase Across the Stacks Ecosystem
Meanwhile, Stacks has recently seen an increase in liquidity within its DeFi ecosystem. According to the protocol’s update on X, more than 3,000 sBTC have already been minted, pushing the chain toward becoming the largest Bitcoin layer-2 in terms of BTC held.
liquidity in the stacks defi ecosystem is accelerating:
– 3k sbtc already on stacks – on track to become the #1 bitcoin l2 by btc supply
– stablecoin market cap surged 400% in q1, crossing $12M+
– new tvl record for stx being liquid stacked unlocking more stx capital pic.twitter.com/0mj3CWL9I4— stacks.btc (@Stacks) April 24, 2025
Stablecoin supply has also risen over 400% in Q1 2025 to more than $12 million. Interestingly, the ecosystem now boasts the third-highest stablecoin growth behind Morph and Cronos.
Moreover, the total value locked (TVL) in liquid stacking has hit an all-time high, signaling growing demand for capital efficiency in STX staking.
Interestingly, Stacks co-founder Muneeb Ali posted a cryptic message on X, saying, “i’m cooking,” just ahead of BitGo’s announcement. He followed it up today with another post, saying “hold up, I’m not done cooking yet.”
hold up, i’m not done cooking yet 🧐
— muneeb.btc (@muneeb) April 25, 2025
This has fueled speculation about potential new partnerships or developments in the near future.
STX’ Price’s Outlook
On the daily STX price’s chart, the RSI stands at 72.64, suggesting overbought conditions. However, sustained RSI levels above 70 in trending markets often indicate strength rather than exhaustion.
STX price chart | Source: Trading View
Bollinger Bands are expanding, and the price is riding the upper band, a sign of a bullish breakout with strong volatility. Traders could see a pullback toward the mid band (20-day SMA) at $0.65 if momentum fades.
However, as long as the price holds above the upper Bollinger band, the bullish trend remains intact. A sustainable break above $1 psychological level could trigger a move toward $1.15.
Meanwhile, the MACD indicator also confirms bullish sentiment, with the MACD line (blue) well above the signal line (red). Histogram bars are expanding, pointing to increasing upward momentum.
STX price chart | Source: Trading View
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
