STX may jump higher when the Nakamoto upgrade hits Mainnet.
Despite decoupling from Bitcoin a few weeks back, STX may rise in BTC’s direction.
The price of Stacks [STX], the native token of the Bitcoin [BTC] L2 for smart contracts development, increased by 10% in the last 24 hours. The rise was a result of a widespread crypto recovery which saw BTC hit $45,000.
However, there could be more in store for STX because of the Nakamoto upgrade set for Q1.
Stacks gained popularity in 2023 on the back of a rise in the adoption of Bitcoin Ordinals. Following the traction it received, the Stacks Foundation came up with the Nakamoto upgrade in its roadmap.
Nakamoto is ready to breathe, and so is STX
The Nakamoto upgrade aims to boost STX’s price. According to the project, the boost would also come with faster block generation, improved security, and sBTC launch.
Details from the roadmap showed that sBTC would be the noncustodial, programmable 1:1 Bitcoin-backed asset.
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