Why did the price of STX go up?

Stacks (STX) increased by 1.11% over the past 24 hours, reaching $0.361. This is notable because it goes against the recent downward trend seen over the last week (-19.18%) and month (-45.3%). Here are the main factors behind this movement:

1. WalletConnect Integration (Positive) – Making it easier to participate in Stacking through WalletConnect apps increases STX’s usefulness.
2. Technical Rebound (Mixed) – Indicators show STX is oversold, suggesting a possible short-term price bounce despite overall bearish pressure.
3. Bithumb Upgrade Preparation (Neutral) – An upcoming network upgrade causes some optimism, but temporary trading restrictions on Bithumb may limit liquidity.

In-Depth Analysis

1. WalletConnect Stacking Expansion (Positive Impact)

What happened: On November 5, WalletConnect and the Stacks Foundation announced a wider integration. This allows STX holders to participate in Stacking — a way to earn Bitcoin rewards by locking up STX tokens — through WalletConnect-compatible wallets like Hex Trust.

Why it matters: By making Stacking easier to access, more users may lock their STX tokens to earn Bitcoin yields. Historically, when staking becomes more accessible, it tends to support short-term price increases. For example, Stacks saw a 35% price rally after similar upgrades in May 2025 (source).

What to watch: Keep an eye on how many users start Stacking STX via WalletConnect and the trends in Bitcoin yield rates (APR).

2. Oversold Technical Indicators Suggest Possible Rebound (Mixed Impact)

What happened: On November 5, STX’s 7-day Relative Strength Index (RSI) dropped to 25.5, the lowest since July 2025. This indicates the token is oversold, which often leads to a short-term price bounce. Indeed, the price rebounded from a key support level at $0.3538 but remains below important moving averages like the 7-day simple moving average (SMA) at $0.394.

Why it matters: While the RSI suggests a temporary relief rally, other technical indicators like the MACD histogram (-0.0026) and the 200-day SMA resistance at $0.686 show that the overall trend is still bearish. For a stronger turnaround, STX needs to close above $0.464, which is the 50% Fibonacci retracement level.

3. Bithumb’s Temporary STX Suspension for Network Upgrade (Neutral Impact)

What happened: Starting November 11, Bithumb will temporarily stop STX deposits and withdrawals to implement a Stacks mainnet upgrade. This upgrade aims to improve smart contract features on the network. Trading of STX will continue during this period.

Why it matters: Temporary suspensions like this can cause short-term price swings due to reduced liquidity. However, the upgrade focuses on expanding Bitcoin-based decentralized finance (DeFi) capabilities, which could strengthen STX’s long-term value.

Summary

The recent 24-hour price increase in STX is driven by a mix of technical oversold conditions and positive news about WalletConnect’s staking integration. However, the overall market trend remains bearish. The upcoming Bithumb upgrade may improve the network’s fundamentals but could also limit liquidity in the short term.

What to monitor: Watch if STX can stay above the $0.3538 support level after the upgrade and whether WalletConnect’s staking integration leads to increased token locking. Also, keep an eye on when Bithumb resumes full STX services and how STX’s Bitcoin yield spreads develop.

What could affect the price of STX?

Stacks (STX) is facing both opportunities and challenges ahead.

1. sBTC Adoption – Expanding Bitcoin-based decentralized finance (DeFi) through secure, trustless Bitcoin bridging.
2. Miner Incentives Debate – Proposed changes to STX rewards could lead to inflation, affecting token value and network security.
3. Institutional Integration – New custody solutions and ETF access may help stabilize demand for STX.

Deep Dive

1. sBTC Growth & DeFi Roadmap (Positive Outlook)

Overview: Stacks’ sBTC is a decentralized version of Bitcoin that allows BTC to be used within the Stacks network. It has already locked over 5,000 BTC and plans to expand through partnerships with multichain bridges like Axelar and Wormhole, as well as integrating major stablecoins. The roadmap includes faster transaction times, better wallet support (such as Ledger and WalletConnect), and over $30 million in incentives to boost DeFi liquidity.

What this means: As sBTC becomes more useful, it could bring inactive Bitcoin into Stacks’ DeFi ecosystem. This would increase demand for STX tokens, which are needed to pay transaction fees and participate in staking. Historically, STX prices have risen alongside Bitcoin inflows—for example, a 35.92% increase in May 2025 after key sBTC developments.

2. Miner Reward Proposal Risks (Potential Downside)

Overview: A proposed change called SIP-019 suggests increasing the STX block rewards from 1,000 to 1,600 tokens per block. This would add about 157 million STX to the supply by 2050. Critics worry this could dilute existing holders and put downward pressure on prices. Supporters argue it’s necessary to keep miners incentivized during periods of low transaction fees.

What this means: If approved, the 60% increase in rewards could result in roughly 84,000 new STX tokens entering the market daily, potentially causing selling pressure worth about $30,000 at current prices. Previous halving events have led to STX sell-offs, but the community’s careful review process (Stacks Forum) may prevent hasty decisions.

3. Institutional Onboarding & Market Sentiment (Mixed Signals)

Overview: Institutional access is improving with Grayscale’s STX Trust, Copper’s custody services for sBTC, and WalletConnect’s stacking integration launched on November 5, 2025. Despite this, STX’s price remains 76% below its 2024 peak. Technical indicators like the RSI-7 at 25.5 suggest the token is heavily oversold.

What this means: Infrastructure upgrades, including Ledger Live stacking support, could attract long-term investors. However, STX’s strong correlation with Bitcoin (about 60%) means it’s still vulnerable to broader market downturns. Current market fear levels (CoinMarketCap index at 20/100) and weaker performance of alternative cryptocurrencies add short-term risks.

Conclusion

The future price of STX depends on how well it balances growing Bitcoin DeFi adoption with the risks of increased token supply and overall crypto market sentiment. Key factors to watch include the success of sBTC’s cross-chain expansion and the outcome of the SIP-019 vote. These will be critical in determining whether STX can hold above its current support level of $0.36. Will miner rewards be adjusted in a way that benefits both miners and holders, or will increased supply weigh down the token’s value?

What are people saying about STX?

Conversations around Stacks (STX) are swinging between excitement about Bitcoin-based decentralized finance (DeFi) and concerns over exchange-related issues. Here’s what’s trending right now:

1. WalletConnect integration makes STX stacking easier
2. Growing developer community boosts confidence in the ecosystem
3. Exchange pauses cause short-term uncertainty

Deep Dive

1. @WalletConnect: Easier Access to Stacking (Positive)

"STX holders now have a new way to earn rewards directly through Hex Trust... stacking is simple and accessible."
– Jess Houlgrave, WalletConnect CEO (Nov 5, 2025)
What this means: This integration lowers the barriers for both institutions and everyday users to participate in Bitcoin DeFi by stacking STX tokens. This could lead to more people earning rewards and increase demand for stacking.

2. @Stacks: Developer Growth (Positive)

"Total Stacks developers increased by 210% year-over-year, according to the Electric Capital Developer Report."
– Stacks official account (237K followers · July 31, 2025)
What this means: A growing number of developers working on Stacks suggests the project has strong long-term potential. However, the price of STX has dropped 51% over the past 90 days, so this growth hasn’t yet been reflected in market value.

3. @Bithumb: Exchange Upgrade Pause (Negative)

"STX deposits and withdrawals will be paused on November 11 for a mainnet upgrade."
– Bithumb announcement (Nov 5, 2025)
What this means: While these pauses are routine during upgrades, they often lead to short-term price drops of 7-15%. For example, STX fell 11% in July 2025 during a similar event. Traders may reduce their risk ahead of the upgrade.

Conclusion

The overall outlook for STX is cautiously optimistic. Progress in Bitcoin DeFi through WalletConnect’s stacking integration and a growing developer community show strong foundations. However, technical challenges like exchange pauses create short-term uncertainty. Keep an eye on sBTC adoption after the Nakamoto upgrade—currently, 5,000 sBTC are locked according to the Stacks Foundation—as this will be a key factor in STX’s future usefulness.

What is the latest news about STX?

Stacks is making important updates and expanding its ecosystem with key exchange pauses and new wallet features. Here’s what’s happening:

1. Bithumb STX Suspension (November 11, 2025) – Temporary pause on STX deposits and withdrawals for a major network upgrade.
2. WalletConnect Stacking Expansion (November 5, 2025) – Easier access to earn Bitcoin rewards through over 600 compatible wallets.

In-Depth Look

1. Bithumb STX Suspension (November 11, 2025)

What’s happening:
Bithumb, one of South Korea’s largest cryptocurrency exchanges, will temporarily stop STX deposits and withdrawals starting at 8:00 AM UTC on November 11. This pause supports an important upgrade to the Stacks mainnet, which will improve smart contract features, security, and how Bitcoin-based apps perform. Trading of STX will continue as usual during this time.

Why it matters:
This pause is a normal part of network upgrades to keep everything running smoothly and securely. While it might cause a short-term slowdown in trading activity, it helps protect users’ assets and ensures the system works better afterward. The exact time when deposits and withdrawals resume depends on how quickly the upgrade proves stable.
(BitcoinWorld)

2. WalletConnect Stacking Expansion (November 5, 2025)

What’s happening:
WalletConnect and the Stacks Foundation have teamed up to let STX holders easily “stack” (stake) their tokens using more than 600 supported wallets, including Hex Trust. Stacking allows users to earn Bitcoin rewards by locking up their STX tokens, making it simpler to participate in Bitcoin-based decentralized finance (DeFi).

Why it matters:
This integration is a positive step for STX adoption. By making stacking more accessible, it could attract more users and institutions, increase liquidity, and boost interest in Bitcoin DeFi projects built on Stacks. This move fits with Stacks’ 2025 plan to grow its ecosystem by tapping into WalletConnect’s large user base of over 45 million people.
(Stacks Foundation)

Summary

Stacks is balancing important technical improvements with efforts to grow its user base and ecosystem. The Bithumb suspension is a routine upgrade step, while the WalletConnect integration opens new doors for earning Bitcoin rewards through stacking. Although there may be some short-term price fluctuations around the upgrade, these developments suggest strong long-term potential for STX. Will the adoption of sBTC speed up after the upgrade, increasing demand for STX?

What is expected in the development of STX?

Stacks’ roadmap is focused on growing Bitcoin-based decentralized finance (DeFi) by introducing important technical improvements and expanding its ecosystem.

1. sBTC Multichain Expansion (Q4 2025) – Bringing sBTC to other blockchains like Solana and Aptos using bridges such as Axelar and Wormhole.
2. Tier-1 Stablecoin Integration (Q4 2025) – Adding popular stablecoins like USDT and USDC to increase liquidity.
3. Clarity WASM Upgrade (2026) – Improving smart contract performance and developer experience.
4. Trustless sBTC Redemption (2026) – Enabling fully decentralized Bitcoin withdrawals without intermediaries.
5. Sub-10s Transactions (Ongoing) – Making transactions faster, aiming for under 10 seconds.

Deep Dive

1. sBTC Multichain Expansion (Q4 2025)

Overview: Stacks plans to make sBTC available on other blockchains such as Solana and Aptos by using cross-chain bridges like Axelar and Wormhole. This will allow Bitcoin liquidity to flow across different ecosystems.
What this means: This is positive for STX because it could attract more users and increase total value locked (TVL). However, there are challenges like technical complexity and competition from other wrapped Bitcoin tokens.

2. Tier-1 Stablecoin Integration (Q4 2025)

Overview: Stacks is working on integrating major stablecoins like USDT and USDC to improve trading options and make DeFi easier to use. Partners like Hex Trust will help with custody solutions.
What this means: This is somewhat positive—stablecoins make it easier for new users to join but might reduce the focus on Bitcoin-only assets. The success depends on smooth fiat-to-crypto onramps.

3. Clarity WASM Upgrade (2026)

Overview: Stacks will upgrade its Clarity smart contracts to run on WebAssembly (WASM), which should increase speed and attract developers familiar with Rust programming. Early tests show about a 30% boost in efficiency.
What this means: This is a positive long-term development because better tools can bring more developers to the platform. Short-term, there might be delays as contracts are migrated.

4. Trustless sBTC Redemption (2026)

Overview: Stacks aims to allow users to withdraw sBTC directly in a fully decentralized way, enforced by Bitcoin’s own scripting system, removing the need for trusted intermediaries.
What this means: This is great for decentralization but requires thorough security checks. Any delays could reduce interest from institutional users.

5. Sub-10s Transactions (Ongoing)

Overview: Following the Nakamoto upgrade, Stacks is working to consistently achieve transaction times under 10 seconds by improving block replication and data processing.
What this means: Fast transactions are crucial for a smooth DeFi experience. Success here could make Stacks a strong alternative to Ethereum for Bitcoin-based applications.

Conclusion

Stacks is focusing on making Bitcoin DeFi more scalable, liquid, and user-friendly by expanding sBTC’s reach, adding stablecoins, and upgrading its technology. While there are risks in execution, these steps align with the growing demand for programmable Bitcoin solutions. The big question remains: will trustless sBTC and cross-chain liquidity help Stacks outperform other Bitcoin Layer 2 platforms?

What updates are there in the STX code base?

Stacks is enhancing Bitcoin DeFi by improving cross-chain liquidity, growing its developer community, and making Stacking easier to use.

1. WalletConnect Integration (Nov 5, 2025) – Makes STX Stacking accessible through 600+ wallets and institutional platforms.
2. sBTC Cross-Chain Expansion (July 1, 2025) – Launches trustless Bitcoin-pegged sBTC on Sui and other blockchains.
3. DeFi Roadmap Update (May 20, 2025) – Focuses on faster transactions, scaling sBTC, and adding stablecoins like USDT and USDC.
4. SIP-031 Funding Proposal (May 30, 2025) – Suggests increasing STX token emissions temporarily to support ecosystem growth.

Deep Dive

1. WalletConnect Integration (Nov 5, 2025)

What it is: Apps using WalletConnect can now natively support STX Stacking. This means users and institutions can earn Bitcoin yields more easily without complicated setups.

Developers can add Stacking features to wallets and exchanges using WalletConnect’s software tools, avoiding the need to build new interfaces from scratch. Early adopters include Hex Trust and other custodians. This comes as Bitcoin Layer 2 total value locked (TVL) has grown 1,500% year-over-year to $4 billion.

Why it matters: This lowers the barrier for people to earn Bitcoin rewards through Stacking, which could increase participation and demand for STX tokens. (Source)

2. sBTC Cross-Chain Deployment (July 1, 2025)

What it is: sBTC (a Bitcoin-pegged token) and STX are now bridged to other blockchains like Sui using Wormhole’s NTT standard. This expands liquidity and DeFi opportunities beyond the Stacks network.

This is the first time sBTC operates outside of Stacks, allowing Bitcoin-backed assets to be used across multiple blockchain ecosystems. The initial focus is on Sui, with plans to add more chains.

Why it matters: While this may not impact STX immediately, it’s positive long-term because it could bring more Bitcoin liquidity into Stacks-based DeFi platforms. (Source)

3. DeFi Roadmap Upgrade (May 20, 2025)

What it is: The roadmap aims to speed up transactions to under 10 seconds, improve sBTC scalability, and integrate popular stablecoins like USDT and USDC.

It includes a $30 million commitment to liquidity pools and focuses on better tools for developers. The trustless design of sBTC is intended to unlock billions of dollars in Bitcoin that are currently inactive, making them usable in smart contracts.

Why it matters: Faster transactions and stablecoin support could attract more institutional Bitcoin investments and boost DeFi activity on Stacks. (Source)

4. SIP-031 Ecosystem Funding (May 30, 2025)

What it is: This proposal suggests increasing the annual STX token emissions from 3.52% to 5.75% for five years. The extra tokens would fund grants, marketing, and infrastructure development.

This aims to close the funding gap Stacks faces compared to competitors. While it could cause short-term inflation and price pressure, supporters believe it will speed up developer adoption and ecosystem growth.

Why it matters: This is a neutral development for STX. There may be some short-term price dilution, but long-term growth could balance it out. (Source)

Conclusion

Stacks is steadily working toward making Bitcoin a foundation for decentralized finance by upgrading its technology to improve scalability, cross-chain liquidity, and developer incentives. With growing sBTC adoption and WalletConnect integration, Stacks could become the go-to platform for earning Bitcoin-native yields.

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