Stacks (STX) Rises Another 12%, Bitcoin Flat at $23K: Weekend Watch

After falling roughly $1,000 and hitting a multi-week low below $23,000, bitcoin has calmed down and is hovering just above that line amid low trading volumes.

Altcoins are also quiet today, given the trading volumes, except for the likes of Stacks and Lido Dao, which are both up by impressive percentages.

Bitcoin Flat to $23K

Bitcoin tried to break $25,000 three times in the last 10 days or so, with the most notable increase in the middle of last week when it surged by $3,500 on Thursday.

Volatility only increased as BTC fell below $23,500 shortly after, with the last attempt at $25,000 coming on February 21. Bitcoin briefly jumped above that line, but was quickly rejected and fell back to $23,500.

After another price pump to $24,600, the US PCE data came out and bitcoin fell by almost $1,000 in hours. Thus dumping it to a 10-day low of $22,800 (on Bitstamp).

The cryptocurrency has recovered a bit and is inches above $23,000. Its market capitalization is close to $450 billion, while its dominance over altcoins is a quiet 42.2%.

STX steals the show

One of the best performers in recent weeks has been Stacks due to its relationship with the much hyped NFT tokens on the Bitcoin network. STX had skyrocketed by 160% on a weekly scale a few days ago and there were predictions that it could continue its upward trajectory to become a multi-billion dollar token.

The last 24 hours has brought another impressive 12% increase pushing STX above $0.75.

LDO is the other notable gainer on the daily scale, up 6% and trading near $3.

The rest of the larger altars are quieter. Ethereum stands still at $1,600, while Ripple, Cardano, Polygon, Dogecoin, Solana, Polkadot and Shiba Inu have small daily losses.

Overall, however, the cumulative market cap has remained at $1.060 trillion.