Bitcoin layer 2 cryptocurrency, Stacks, has soared over 7% today as excitement around the Bitcoin ecosystem grows.
Meanwhile, the new presale 99Bitcoins token is also seeing success as its total raise clears $2.2 million.
Stacks’ position as Bitcoin’s largest layer 2 has provided a huge advantage in the market today.
It has piggybacked on the market leader’s 1% bounce, except with much more haste.
Bitcoin has jumped 1% today after three weeks of bear-dominated market activity.
However, bulls are becoming increasingly confident that the correction has run its course and that the price will now recover.
That’s been a huge boon for Stacks. It is currently trading at $1.72, up 7.55% today.
This has made Stacks a top gainer in the market today. Currently, it’s the third-best performing top 100 crypto behind Notcoin and Ethereum Name Service.
Taking a weekly outlook, its recent uptick has provided a clean slate, wiping out this week’s losses. It’s currently at a 1.1% premium this week.
Stacks holds a $2.5 billion market cap and a $157 million 24-hour trading volume, up 50% today.
With STX displaying such strength on the back of a 1% Bitcoin bounce, social media users are buzzed about its upcoming trajectory.
Sakemate suggests that Stacks will rise to $10 this cycle, which is over 5x higher than its current price.
Meanwhile, prominent analyst Cilinix Crypto provided a chart analysis illustrating a bottom forming around $1.4.
Based on the chart, Cilinix Crypto believes the uptick to $1.7 marks the beginning of a trend reversal. The chart depicts a consolidation around this level before an explosive wave to $2.3.
With the Bitcoin ecosystem seemingly on the up, the timing couldn’t be better for the 99Bitcoins token to emerge.
The project is undergoing a presale and has raised $2.2 million in funding so far. This reflects a brewing excitement among early-stage investors.
There’s swelling interest in the 99Bitcoins token presale as its BRC20 ecosystem debut nears.
The project was launched by the prestigious 99Bitcoins media outlet, which rivals the likes of CoinDesk and Cointelegraph.
Alongside its news website, 99Bitcoins has a YouTube channel with 700K subscribers and an email list of 2.8 million.
With that in mind, the outfit was not hard-pressed to draw attention to its latest initiative.
The Learn-to-Earn feature is a new paradigm of incentivized learning. Users can complete quizzes, tests, and modules in exchange for crypto rewards.
99Bitcoins is raising funding for development through the presale.
The presale is occurring on the Ethereum and BNB Smart Chain networks to ensure widespread availability, but $99BTC will also launch under Bitcoin’s BRC20 token standard.
This sets an exciting course for the project, tapping into crypto’s biggest ecosystems while providing a groundbreaking use case.
Users must hold $99BTC to access the Learn-to-Earn layer, and it will also provide utilities like crypto trading signals, BRC20 tools and education, a VIP community group, and more.
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