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Why did the price of STX fall?

Stacks (STX) dropped 5.6% in the last 24 hours, underperforming the overall crypto market, which fell 1.82%. This decline is mainly due to exchange suspensions for network upgrades, negative technical signals, and cautious investor sentiment toward altcoins.

  1. Exchange Suspensions – Binance and Bithumb paused STX deposits and withdrawals for system upgrades, causing short-term trader uncertainty.
  2. Technical Weakness – STX’s price fell below important support levels, indicating downward momentum.
  3. Market Sentiment – Altcoins are under pressure as Bitcoin dominance remains high (59.25%) and the Fear Index is low (26/100), signaling cautious market mood.

Deep Dive

1. Exchange Suspensions (Negative Impact)

Overview:
On November 11, Binance and Bithumb temporarily stopped STX deposits and withdrawals to perform a network upgrade (Binance). While this is a normal maintenance step, it limited trading activity and caused some traders to sell off their holdings to avoid having funds locked.

What this means:

What to watch:
If the upgrade goes smoothly and exchanges resume normal operations, selling pressure may ease.

2. Technical Breakdown (Negative Impact)

Overview:
STX’s price fell below its 30-day simple moving average (SMA) of $0.4248 and 200-day SMA of $0.6749. The Relative Strength Index (RSI) is at 45.66, close to oversold levels. The 50% Fibonacci retracement level at $0.4155 now acts as resistance.

What this means:

Key level: A close above $0.434 (38.2% Fibonacci level) could indicate a potential recovery.

3. Altcoin Sentiment (Mixed Impact)

Overview:
The Altcoin Season Index is at 29/100, up 11.5% in 24 hours, but still favors Bitcoin (“Bitcoin Season”). STX’s 30-day performance (-17.3%) trails Bitcoin’s broader market decline (-7.35%).

What this means:

Conclusion

STX’s recent decline is driven by technical breakdowns, temporary exchange-related trading disruptions, and cautious investor sentiment toward altcoins. While the network upgrades aim to improve STX’s long-term prospects, short-term price action will depend on Bitcoin’s stability and the resumption of normal trading activity.

Key question: Will STX manage to hold above $0.415 amid low trading volume, or will Bitcoin’s dominance continue to weigh on altcoins?


What could affect the price of STX?

Stacks strikes a balance between Bitcoin innovation and market uncertainty.

  1. Upcoming Protocol Upgrades – Network improvements could enhance DeFi integration (Positive).
  2. sBTC Adoption Trajectory – Growth in cross-chain Bitcoin liquidity boosts utility but comes with risks (Mixed).
  3. Emission Policy Changes – Increased STX supply from SIP-031 may dilute value (Negative).

In-Depth Look

1. Upcoming Protocol Upgrades (Positive Impact)

Overview:
Stacks plans two major network upgrades on July 11 and November 11. These updates aim to speed up transactions, allow the use of sBTC (a Bitcoin-backed token) to pay transaction fees, and add WalletConnect support to make stacking (earning rewards by locking STX) more accessible. These changes follow a growing trend in Bitcoin Layer 2 (L2) solutions, where the total value locked (TVL) jumped from $300 million to $4 billion between 2024 and 2025 (Bitcoin Layers).

What this means:
If these upgrades succeed, they could attract more developers and Bitcoin holders looking for ways to earn yield. This would increase demand for STX, both for transaction fees and governance participation. For example, the Nakamoto upgrade in October 2024 led to a 35% increase in STX’s price.

2. sBTC Adoption Trajectory (Mixed Impact)

Overview:
sBTC is a decentralized token that represents Bitcoin on other blockchains. It currently operates across Solana, Sui, and Stacks through a bridge called Wormhole, with about 5,000 BTC locked in this form. However, it faces competition from other projects like Merlin Chain, and there are concerns about the security and trustworthiness of sBTC’s custody model.

What this means:
Every additional 1,000 sBTC tokens issued (with a goal of reaching 21,000 BTC) has historically been linked to a 10–15% rise in STX’s value. On the flip side, any security issues or bridge failures—like the ALEX exploit in June (Coinlive)—could cause significant losses.

3. Emission Policy Changes (Negative Impact)

Overview:
SIP-031 is a proposal that raises the annual STX token supply increase from 3.52% to 5.75% for five years to support ecosystem growth. While this funding can help development, the extra 400 million STX tokens (about 22% of the total supply) risk reducing the value of existing tokens if demand doesn’t keep up.

What this means:
After SIP-031 was approved with 97% voter support, STX’s price dropped nearly 44% over 90 days, reflecting concerns about inflation. Watching on-chain data like STX bonding curves and treasury spending will help understand future selling pressure.

Conclusion

STX’s price will depend on how well it balances growing Bitcoin DeFi adoption with the risks of increased token supply. In the short term, network upgrades and sBTC growth may help counter broader market challenges. However, the long-term dilution from SIP-031 remains a concern. Will Stacks keep attracting developers as competition among Bitcoin Layer 2 solutions heats up? Keep an eye on monthly active users and sBTC’s Bitcoin backing rate for clues.


What are people saying about STX?

Conversations around Stacks (STX) are swinging between optimism about earning Bitcoin rewards and concerns over temporary exchange pauses. Here’s what’s trending right now:

  1. Stacking STX to earn Bitcoin rewards – Offering nearly 10% annual returns with 100 million STX tokens locked up
  2. WalletConnect integration – Making it easier for institutions to participate in stacking
  3. Exchange pauses – Temporary deposit and withdrawal halts on major exchanges causing short-term price drops

In-Depth Look

1. @Stacks: Earning Bitcoin by Stacking STX (positive outlook)

"Stacking STX to earn Bitcoin has delivered a 9.94% annual percentage yield (APY) over 20 reward cycles. This is real, native Bitcoin income."
– @Stacks (237K followers · 14.7K likes · July 17, 2025)
See original post
What this means: This is good news for STX because more tokens are being locked up, reducing the number available for trading. With 100 million STX locked as of October, stacking ties the value of STX directly to Bitcoin rewards, which can increase demand.

2. @StacksOrg: WalletConnect Integration for Institutions (positive outlook)

"Hex Trust will add WalletConnect SDK, allowing institutional clients to access Bitcoin-yield stacking more easily."
– @StacksOrg (27K followers · 767 likes · November 5, 2025)
See original post
What this means: This is a positive step for adoption. Institutions can now participate in stacking STX without needing to build their own custom systems. This could bring more liquidity and increase revenue for the Stacks network.

3. @Bithumb: Exchange Suspensions Impact (negative outlook)

"Bithumb paused STX deposits and withdrawals on July 29 for network upgrades, leading to an 11.4% price drop that week."
– Bithumb announcement (July 25, 2025)
See original post
What this means: This caused short-term selling pressure and less trading activity, which is negative for STX’s price. While these pauses are usually temporary and the price tends to recover, repeated interruptions could hurt investor confidence.

Summary

The outlook for STX is mixed. On the positive side, its unique ability to earn Bitcoin rewards and easier access for institutions are strong growth drivers. On the downside, temporary exchange halts create short-term uncertainty. Keep an eye on how STX’s price behaves after Bithumb resumes full service on November 11 and whether stacking yields stay above 9%. For those focused on Bitcoin, STX remains a key way to earn Bitcoin-native rewards—provided the network continues to perform reliably.


What is the latest news about STX?

Stacks is managing exchange pauses for important upgrades while making decentralized finance (DeFi) more accessible. Here’s the latest update:

  1. Binance STX Suspension (November 11, 2025) – Temporary hold on STX deposits and withdrawals for a network upgrade, with little expected impact on price.
  2. WalletConnect STX Integration (November 5, 2025) – Easier access to stacking for over 45 million users through 600+ wallets.
  3. Bithumb Upgrade Preparation (November 11, 2025) – Deposits and withdrawals paused ahead of mainnet improvements.

Deep Dive

1. Binance STX Suspension (November 11, 2025)

Overview:
Binance temporarily stopped STX deposits and withdrawals on November 11 to support a planned upgrade and hard fork on the Stacks network. This is a standard security step during major updates. Trading was not affected, and normal services resumed after the upgrade.

What this means:
This pause shows strong institutional trust in Stacks’ technology. While short-term limits on liquidity are normal during upgrades, the fact that STX’s price only dropped about 7.86% in 24 hours—similar to overall market trends—indicates steady investor confidence. (coinlineup.com)

2. WalletConnect STX Integration (November 5, 2025)

Overview:
WalletConnect added support for STX stacking, allowing users of 600+ wallets (over 45 million people) to earn Bitcoin rewards through Stacks’ Proof-of-Transfer (PoX) system. Hex Trust will test this feature for institutional investors.

What this means:
This is a positive step for adoption. Making stacking easier lowers barriers for both everyday users and institutions. Combined with Stacks’ Nakamoto upgrade, which improved transaction speeds, this could increase Bitcoin-based DeFi activity. STX’s price rose 13.37% over the week, outperforming the broader crypto market’s decline of 7.32%, signaling growing momentum. (Stacks Foundation)

3. Bithumb Upgrade Preparation (November 11, 2025)

Overview:
Bithumb paused STX deposits and withdrawals on November 11 to prepare for Stacks’ mainnet upgrade. This upgrade aims to improve smart contract features and enhance compatibility with Bitcoin.

What this means:
While the pause is neutral in the short term, the upgrade is promising for the future. Exchange halts are routine during such changes, but the improvements could strengthen Stacks’ role as Bitcoin’s leading Layer 2 solution. After the upgrade, expect growth in total value locked (TVL) in DeFi platforms like StackSwap, which recently surpassed $100 million in STX staked. (BitcoinWorld)

Conclusion

Stacks is carefully balancing technical upgrades with expanding its ecosystem, focusing on making Bitcoin-based DeFi more accessible. Although exchange pauses cause temporary inconvenience, integrations like WalletConnect show growing institutional interest. Will the increased Bitcoin rewards from STX stacking help offset short-term liquidity challenges after the upgrade?


What is expected in the development of STX?

Stacks' roadmap is focused on improving Bitcoin-based decentralized finance (DeFi) through important upgrades and new integrations.

  1. Network Upgrade (November 11, 2025) – Enhances security and cross-chain liquidity.
  2. Tier-1 Stablecoin Integration (Q4 2025) – Adding USDT and USDC to increase DeFi liquidity.
  3. sBTC Multichain Bridges (Q4 2025) – Connecting sBTC to other blockchains like Solana and Aptos for wider Bitcoin use.
  4. Trustless sBTC (2026) – Allowing decentralized Bitcoin withdrawals without middlemen.

Deep Dive

1. Network Upgrade (November 11, 2025)

Overview: This major update will improve the security of the Stacks network and make it easier to move assets between different blockchains. To prepare, exchanges such as Bithumb and Binance will temporarily pause STX transactions (Bithumb, Binance).
What this means: In the short term, STX trading may slow due to these pauses, but in the long run, the upgrade could attract more institutional Bitcoin investments, which is positive for STX.

2. Tier-1 Stablecoin Integration (Q4 2025)

Overview: Stacks plans to add popular stablecoins like USDT and USDC to its ecosystem. This will make trading easier and increase the total value locked (TVL) in DeFi projects. Over $30 million is set aside to support liquidity pools for this effort (Stacks Forum).
What this means: This is good news for STX adoption because stablecoins reduce risks for users and improve how efficiently capital is used in DeFi apps like ALEX and ZestProtocol.

3. sBTC Multichain Bridges (Q4 2025)

Overview: sBTC, a Bitcoin-backed token on Stacks, will be connected to other blockchains such as Solana and Aptos through bridges like Axelar and Wormhole. This will allow Bitcoin assets to be used across multiple blockchain networks (Stacks Tweet).
What this means: This expansion could bring more liquidity and users to STX, but there is some risk if these bridges don’t get widely adopted quickly.

4. Trustless sBTC (2026)

Overview: A future goal is to enable users to withdraw Bitcoin directly without relying on intermediaries, using Bitcoin’s own scripting capabilities. This would make Stacks a fully decentralized Layer 2 solution for Bitcoin (Stacks Forum).
What this means: If successful, this would be a big win for STX by addressing concerns about centralization. However, technical challenges or delays could slow down enthusiasm.

Conclusion

Stacks is making strong moves to grow Bitcoin DeFi with immediate liquidity improvements (stablecoins and bridges) and long-term decentralized infrastructure. The November 11 upgrade and Q4 integrations have the potential to increase demand for STX, depending on how quickly developers build on these new features. The key question is: how fast will builders use these upgrades to bring in the next generation of Bitcoin users?


What updates are there in the STX code base?

Stacks is boosting Bitcoin DeFi with important software upgrades.

  1. Mainnet Upgrade (November 11, 2025) – Key improvements to security and transaction speed.
  2. WalletConnect Integration (November 5, 2025) – Easier stacking through 600+ compatible wallets.
  3. sBTC Expansion (May 2025 Roadmap) – Trustless Bitcoin integration to grow DeFi capabilities.

Deep Dive

1. Mainnet Upgrade (November 11, 2025)

Overview: The latest Stacks mainnet upgrade aims to make the network faster and more secure. During this update, major exchanges like Binance and Bithumb will temporarily pause deposits and withdrawals.

The upgrade speeds up block validation and smart contract execution by separating Stacks’ block creation from Bitcoin’s usual 10-minute cycle. This means transactions happen quicker and work better with fast-moving DeFi apps.

What this means: This is good news for STX holders. Faster transactions can attract more developers and users to Bitcoin-based DeFi, while stronger security lowers risks. Node operators need to update their software to keep the network running smoothly.
(Source)

2. WalletConnect Integration (November 5, 2025)

Overview: WalletConnect’s software development kit (SDK) now supports STX stacking. This lets users earn Bitcoin rewards through apps like Hex Trust without needing new interfaces.

With WalletConnect’s 45 million+ users, accessing Stacks’ Bitcoin yield features becomes much easier. Developers can add stacking options into their apps using tools they already know.

What this means: This is a neutral update for STX. While easier access might increase adoption, it doesn’t change the core protocol. Still, making stacking simpler could boost long-term demand for STX.
(Source)

3. sBTC Expansion (May 2025 Roadmap)

Overview: The roadmap highlights trustless sBTC—a decentralized way to use Bitcoin in Stacks smart contracts without relying on third-party custodians.

Key technical steps include improving Clarity smart contracts and the Proof of Transfer (PoX) system to allow secure, self-managed sBTC minting. This could unlock billions of Bitcoin currently inactive in DeFi.

What this means: This is positive for STX. Seamless Bitcoin integration could make Stacks a central platform for Bitcoin-based finance, increasing demand for STX through transaction fees and stacking rewards.
(Source)

Conclusion

Stacks’ software updates focus on making Bitcoin DeFi more scalable, secure, and user-friendly. The November 2025 mainnet upgrade is the most immediate driver. With ongoing work on sBTC and developer tools, Stacks aims to become the leading programmable layer for Bitcoin.

How will Stacks balance decentralization with growing institutional interest as Bitcoin integration deepens?