Welcome back,
Stacks is the layer 2 blockchain solution for bitcoin network. It's native token is known as STX and I am accumulating that at every dip possible. I have been buying it since it was 70 cents and currently the price is at 1.5+ dollars as of the time of writing this blog.
There are several reasons why I am accumulating STX as one of the coins in my portfolio and the very first reason for doing that is quite simple. It belongs to bitcoin ecosystem and is one of the first layer 2 blockchain to develop on Bitcoin network.
Transactions are currently not fast but a upgrade in on the way
So, currently it takes more than ten minutes to sign a transaction on bitcoin network and I think this is the fact that everyone knows already but there is a upgrade that will be coming this April on Stacks solving this problem.
Source to above picture and roadmap.
The bitcoin network transaction speed will be as fast as few seconds with sBTC getting introduced for paying fees and it will not only reduce the time of transaction but also reduce the fees on the network and that is why I think it has a bright future ahead.
Market Cap
The another thing that is worth to talk about is the market cap of this token. You can have a look at the screenshot taken from coingecko.
Market Cap is currently 2.17 billion dollars and if I compare other layer 2 blockchain solution from top blockchains like Ethereum. Ethereum layer 2 solutions touched quite high numbers in last bull run and I think that is the reason even 10X or even more is achievable for stacks.
I am not asking anyone to buy this but sharing why I think this coin has it in it for the max gains in next bull run. I will be bold here and say that 20-30 billion dollars is where I see the market cap of this coin in the upcoming bull run.
These are some reasons why I am accumulating stx tokens at every dip possible.
Thank You and Happy Trading Everyone