Stacks Crypto Maintains Uptrend Amid Bitcoin Staking Round Completion
Key Summary
Stacks crypto (STX) holds above $0.40 as Bitcoin staking round participation expands, showing a 3% return on investment for users in the form of BTC, with no guarantees on return. The filled round shows increased participation in a program that pairs Bitcoin with locked STX, but the price rise is unclear. Stacks Labs expects Bond 3 to launch around November 10, with a focus on clarity and context in the crypto market.
Introduction
Stacks Labs reported a second Bitcoin staking round, which was full with 500+ BTC and joined by over 6.7M STX.
The filled round shows participation in a program that pairs Bitcoin with locked STX, but it does not show why its price rose.
In its October 12 update, Stacks Labs said most of Bond 2 filled through Stacking DAO, with the Xverse pool also participating.
The program hopes to give a return to users of 3% on their bitcoin, paid in BTC, with no guarantees on return.
Through Stacking DAO, users receive stBTC [representing the share of their position], and they can use it in financial apps in Stacks [for example, as collateral to borrow USDCx], and they continue to receive staking rewards.
The distinction between participation routes matters because: Bonding STX limits its availability during the lock period, but those tokens are not permanently removed.
The daily chart showed STX up 1.83% from its previous daily close at the time of this writing.
It remained about 7.1% below the session high, with the trading still going on.
The latest two candles actually topped out at a higher price but quickly came back down.
Hence, the $0.45 and $0.46 area stands out as an obvious hurdle.
Its trading prices have hovered above the key averages after this rise, supporting the rally.
Holding above $0.40 will give another opportunity to attempt the resistance.
If that level gives way, traders could start looking at the $0.37–$0.38 price areas.
If it trades steadily above $0.46, the outlook for recovery looks good.
Bond 3 is expected to launch around November 10, according to Stacks Labs.
Anyone wanting to take part directly must hold at least 50 BTC and be approved, but it can also be done through partner pools according to the requirements set by them.
The next round will show how the level of participation has increased or decreased.
For STX’s immediate outlook, it remains to be seen whether buyers can defend the $0.40 price area.