Can STX crypto break $2? Nakamoto upgrade sparks optimism

• STX increased by over 7%, crossing a key level for the first time in months.
• STX could revisit higher price levels in the coming weeks.

 Stacks [STX] Crypto has taken a major step forward with the release of its long-anticipated mainnet upgrade, known as the “Nakamoto Upgrade.”

This Layer 2 enhancement effectively decouples Stacks’ block production from Bitcoin’s, allowing the network to handle transactions more quickly. 

The STX token has reacted positively to this update, coinciding with Bitcoin’s attempt to retest its all-time high, which could signal new momentum for STX and other BTC-integrated assets.

STX crypto launches Nakamoto upgrade

The Nakamoto Upgrade is Stacks’ most significant upgrade to date, a milestone for this Layer 2 platform built on Bitcoin.

According to official sources, the upgrade was set to activate at Bitcoin Block 867,867 around 29th October, and data confirms it has successfully gone live at Block 867,900.

This advancement means transactions on STX Crypto are now processed within seconds, marking a substantial improvement in speed and efficiency.

Additionally, the Stacks team announced the introduction of “sBTC,” a unique token designed to seamlessly bridge Bitcoin with the Stacks ecosystem.

This new functionality is expected to boost the utility of both Bitcoin and STX within the network, making transactions faster and more decentralized. 

Key price levels to watch for STX crypto

As STX crypto adapts to its post-upgrade momentum, certain technical levels will be critical in determining its future direction. The token is approaching its 50-day moving average, which could offer support if its recent bullish trend continues. 

Source: TradingView

However, resistance sits just below the psychological $2.00 mark, a threshold where previous rallies encountered selling pressure. A breakout above this point could signal additional gains.

At the same time, failure to maintain support could lead STX to retrace recent advancements.

 Realistic or not, here’s STX market cap in BTC’s terms

Prospects for sustained growth

The Nakamoto Upgrade sets the stage for a promising new chapter for Stacks, one driven 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 maintains its support and successfully breaks through resistance, the recent upgrade could fuel sustained growth for the token in the coming weeks.