Cosmo Jiang, a portfolio manager at the digital asset-focused hedge fund Pantera Capital, has highlighted Stacks (STX) as an altcoin with significant growth potential. Stacks, which aims to enable smart contracts and decentralized finance (DeFi) applications on Bitcoin (BTC), has seen its native token STX soar by approximately 95% in the last 30 days.
Jiang notes the increasing transaction activity on the Stacks network, suggesting that this uptrend is likely to continue. The upcoming Nakamoto upgrade, anticipated to drastically improve transaction speeds on the network, is expected to further boost activity.
BuyBitcoinWorldwide.com predicts that the Nakamoto upgrade, developed by the Stacks Foundation, will go live on April 17, ahead of Bitcoin’s major block reward halving event. This update is seen as a game-changer for the network.
Resh Singh, Business Development Manager at STX:LDN, states that the Nakamoto update will reduce the time for mining and confirming user transactions from about 10 minutes to just a few seconds. This significant improvement is critical for creating scalable decentralized applications, particularly in the volatile DeFi space, where quick transaction confirmation is essential.
STX:LDN is a London-based organization managed by the community, facilitating development and educational events for Bitcoin and Stacks.