Stacks Price

Formerly known as Blockstack, Stacks uses Bitcoin as a base layer but makes it programmable, enabling developers to build smart contracts and decentralized applications on top of it that inherit Bitcoin’s stability and security. Developers can use the secure and predictable programming language Clarity to create dApps and new kinds of digital assets with built-in privacy, as Stacks aims to build an open and composable financial system on top of Bitcoin.

STX is the native token of the blockchain and is used to fuel smart contracts and participate in consensus. The price of STX has changed significantly since it joined the crypto market and if you want to know why then you’re in the right place. We’ve compiled everything you need in order to get a better understanding of STX price – as well as the factors which influence it.

Stacks Price History

Stacks entered the crypto market towards the end of October 2019 trading at $0.30. Although it reached $0.70 on its first day, prices then began to decline and by mid-December STX had fallen to $0.08. The token then rebounded to $0.14, before finishing the year with a price of $0.09, having lost more than two thirds of its value since launch.

There was little change in January 2020 but prices climbed to $0.26 in February. The rally was short-lived, however, and STX bottomed out at $0.04 a month later following a single-day crash of more than 50%. The next few months brought steady gains as prices rose to $0.20 in July. A steeper increase in August then took STX up to a peak of $0.32. Prices crashed back down to $0.14 in September and consolidated around this level for the next two months. STX then began to rally in November and as 2020 came to a close, it was trading at $0.40, representing gains of 320% over the course of the year.

STX continued to surge in 2021, hitting $0.60 in the first week of January. A month of consolidation followed before a bullish February saw prices hit $1. The Stacks market cap surpassed $1 billion for the first time before a more than 150% surge on April 5 saw STX hit its all-time high of $2.91. By that point, the token had provided year-to-date gains of over 630% and the Stacks market cap was nearing $3 billion. STX shed nearly half of its value over the next two days and then rebounded to $2.78. The rest of April was more bearish and STX touched a low of $0.70 in May when it crashed by 50% during a single day. Prices fell further in June, hitting a low of $0.49.

Analyzing Stacks Price History

Stacks price history can be analyzed with many of the same techniques as the stock market. Technical analysis involves using various indicators while studying price charts in order to make sense of previous price movements. With STX, as with many other tradable assets, large price swings are often accompanied by spikes in trading volume, as a large number of traders buy or sell their coins on exchanges.

Fundamental analysis, on the other hand, looks at the finances and activities of a company, as well as the state of the wider market and economy. STX was the first cryptocurrency in US history to be distributed to the public through an SEC-qualified token offering. This involved more than 4,500 participants and raised $28 million. The project also received the backing of prominent venture capital funds such as Winklevoss Capital, Digital Currency Group, and Y Combinator. This could be a good sign for the fundamental Stacks value.

Broader market trends have also played a role in the price history of STX. Its surge early in 2021 wasn’t unique – the entire crypto market pumped around this time. Bitcoin was in the midst of a major bull run then, and with such strong market dominance, any significant price movement for Bitcoin often impacts other cryptocurrencies.

STX’s huge single-day drop in March 2020 came as economies and borders were closing down around the world in response to the COVID-19 pandemic. The effect of this was felt by the whole cryptocurrency sector and the entire stock market, which experienced the biggest single-day crash since 1987.

The sudden crash in May 2021 was also market-wide, affecting every single major cryptocurrency. Various contributing factors have been suggested, including comments made by Elon Musk, a crackdown by Chinese authorities, liquidations, and a healthy market correction.

The overall price trend for STX tends to follow what’s known as a boom-and-bust cycle. This is a pattern in which a period of growing excitement leads to a surge in price before doubt and disillusionment set in and result in a crash.

Factors Influencing The Price of Stacks (STX)

A variety of different things can affect the price of STX, including project news and developments, the flow of assets on exchanges, public sentiment, and emerging trends in the wider cryptocurrency and global economies.

STX has no capped max supply. The mining schedule involves a block reward of 1,000 STX per block for the first four years, 500 for the next four years, 250 for the following four years, and 125 STX per block in perpetuity after that. This puts downward pressure on the long term price of STX as demand for the token would have to increase more than supply for a price rise.

Demand for STX is partly driven by Clarity smart contracts as their execution requires a gas fee paid in STX. DApps built on Stacks therefore require STX fees for every user interaction. The token is also used to pay for other network functions, such as transactions, registering digital assets, and publishing Clarity contracts on the blockchain.

There is further demand for STX from participants in the Proof of Transaction consensus mechanism. In PoX, miners bid in Bitcoin to write the next block and earn STX rewards. That Bitcoin is paid to STX holders who secure the network through “stacking” – a process like staking that requires STX to be temporarily locked up. While stacked, tokens are removed from the effective liquid supply and the opportunity to earn Bitcoin rewards could incentivize more people to buy STX for stacking.

If the network gains more users, this means both more demand for STX to pay fees and a larger Bitcoin reward for stackers creating a greater incentive to buy and lock up STX. Activities that drive Stacks adoption, such as performance improvements, new features, and community engagement, could therefore boost STX price.

Live Stacks Value and Market Cap

The live STX value varies from moment to moment as it’s dictated by the balance of buyers and sellers on exchanges, which is in constant flux. 

Given STX’s volatility, its current price can change by a large amount in a very short space of time. The market cap of Stacks is equal to the price of STX multiplied by the number of STX in the circulating supply.

Stacks Price FAQ

What is the highest Stacks price in EUR?

Stacks price history shows that STX has recorded a peak value of EUR.

What is the lowest Stacks price in EUR?

STX price history shows that EUR EUR is the lowest recorded Stacks value.

How can I buy Stacks?

You can purchase Stacks and over 290 different cryptocurrencies in seconds with Kriptomat, learn more about how to buy Stacks. It’s available for immediate purchase at the current STX price quote of EUR. Current prices are always displayed in the STX chart.

What is the current Stacks price in EUR?

Kriptomat data confirms that the current Stacks price is EUR.

How is the price of STX calculated?

STX’s price at any given time is decided by the balance of supply and demand on exchanges. When more people are buying STX than selling it, the price goes up, and when more are selling than buying, the price goes down.

Why is the price of STX different on each crypto exchange?

STX’s price is based purely on trading as there is no standard global Stacks price, so no one knows what it is “supposed” to cost. The trading volume and liquidity are different for each exchange and those differences are what affect the price.

What will STX be worth in the future?

It’s impossible to make price predictions with any kind of absolute certainty, as a whole host of different factors could play a role in determining the future value of STX. However, if Stacks network usage increases in the future, the combination of more STX fees and better incentives to stack STX could lead to a price rise.

Conclusion

The price of STX has changed significantly since it joined the crypto market, going from lows of under $0.04 to highs of almost $3. Its journey hasn’t been smooth, however, as STX’s volatility has led to surges and crashes along the way.

Many different factors have played a role in determining the price of STX, including demand for Clarity smart contracts, the amount of tokens being stacked, and trends in the rest of the cryptocurrency market and wider economy. Its current valuation is derived from the balance of supply and demand in the markets and constantly changes.

If you want to get started with the most user-friendly trading experience on the market, register with Kriptomat today to begin your journey into the world of Stacks and cryptocurrencies!