Stacks (STX) coin jumped 70% today before pulling back: here’s where to buy it

The Stacks (STX) coin has made headlines today after unleashing a monster bull trend that saw it hit $1.90. As a result, investors are scrambling for the coin especially since it has outperformed all the other top 100 coins including Bitcoin, the majority of which are in the red today.

Today’s STX price rally coincides with the launch of Bitcoin Odyssey, a $165M fund by OKcoin cryptocurrency exchange to develop Web3 on Bitcoin blockchain using Stacks.

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To help investors buy the Stacks (STX) coin, Invezz has compiled a brief guide on the best places to buy the Stacks coin while also explaining what it is and what its price predictions are.

To find out more, please continue reading..

Best places to buy STX coin

As STX is such a new asset, it’s yet to be listed on major exchanges. You can still purchase STX using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy STX right now, follow these steps:

1. Buy ETH on a regulated exchange or broker, like eToro ›

We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

You’ll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the Uniswap DEX

Head to Uniswap, and ‘connect’ your wallet to it.

4. You can now swap your ETH for STX

Now that you’re connected, you’ll be able to swap for 100s of coins including STX.

What is Stacks Coin?

Stacks coin, which is denoted as STX, is the native cryptocurrency of the Stack 2.0 blockchain that was formerly known as Blockstack before being rebranded to Stacks towards the end of 2020. The Stacks 2.0 mainnet was later released in January 2021.

The Stack 2.0 blockchain is a blockchain solution that brings decentralized applications (DApps) and smart contracts to Bitcoin (BTC) users without undermining Bitcoin features. The stacks coin (STX), on the other hand, is primarily used for executing smart contracts, processing transactions, and registering new digital assets for the DApps on the Stack 2.0 blockchain. Miners of the Stacks blockchain mint new Stack coins (STX) by paying using BTC through a consensus mechanism known as proof-of-transfer (PoX).

Today Stacks coin (STX) is valued at $1.20 registering after an impressive week’s performance where it registered a 13% rise in the past seven days.

Stacks price prediction rise in value

Although there are fears of a major pullback following today’s price surge, analysts are still bullish on the Stacks (STX0 coin with the majority of them predicting that it could hit $2 before the end of next week.