Blockstack (STX) Rallies 85% As Fundamentals Improve Ahead of Mainnet Launch

10 Dec 2020, 10:24 · 閱讀量 144

Photo: Coin Telegraph

Blockstack's STX might not be on every investor's radar, but the 72nd-ranked cryptocurrency by market capitalization has been doing some serious work behind the scenes.

Blockstack (STX) one-month chart. Source: Coin360.com

The company behind the token was founded in 2013 and raised money from Union Square Ventures, Naval Ravikant, Lux Capital and Digital Currency Group.

The initial coin offering (ICO) actually happened in September 2019, and the fundraise was $28 million at $0.30 per token. At the time, the Blockstack ecosystem had over 165 applications in place and 78.3 million tokens were sold pre-ICO at $0.12 apiece.

In July 2019, Blockstack launched its first token offer under the Securities and Exchange Commission's Regulation A exemption. Investors' expectations now lay on Stacks v2 launch, introducing a new smart contract language and a new consensus mechanism.

STX market capitalization (USD) and price (BTC). Source: CoinMarketCap

Regarding the token’s value, since November, STX has gained 85%, and its market capitalization rose from $100 million to $188 million in nine weeks.

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https://cointelegraph.com/news...

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