Key Points
- STX Crypto has launched its significant “Nakamoto Upgrade”, improving transaction speed and efficiency.
- STX token is approaching critical technical levels, which could determine its future direction.
The STX cryptocurrency has made a significant advancement with the launch of its long-awaited mainnet upgrade, known as the “Nakamoto Upgrade”.
This Layer 2 enhancement essentially separates Stacks’ block production from that of Bitcoin, enabling the network to process transactions more rapidly.
Nakamoto Upgrade Launched
The Nakamoto Upgrade is considered the most significant upgrade for the Stacks platform to date. The upgrade was set to activate at Bitcoin Block 867,867 around 29th October, and data confirms its successful activation at Block 867,900.
This development implies that transactions on STX Crypto are now processed within seconds, marking a significant improvement in speed and efficiency.
Moreover, the Stacks team has announced the introduction of “sBTC,” a unique token designed to bridge Bitcoin with the Stacks ecosystem seamlessly.
STX Crypto: Key Price Levels
As STX Crypto adjusts to its post-upgrade momentum, certain technical levels will be crucial in determining its future direction. The token is approaching its 50-day moving average, which could provide support if its recent bullish trend continues.
However, resistance lies just below the psychological $2.00 mark, a point where previous rallies encountered selling pressure. A breakout above this level could signal further gains.
Conversely, failure to maintain support could lead STX to reverse recent advancements.
The Nakamoto Upgrade paves the way for a promising new chapter for Stacks, characterized by quicker transactions and the introduction of sBTC. The market’s response has been positive, with technical indicators showing favorable conditions for further upward movement.
If STX Crypto can maintain its support and successfully break through resistance, the recent upgrade could fuel sustained growth for the token in the coming weeks.
