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The price of STX has been on the rise becasue of the new Ordinals Protocols. It is a new protocol that allows NFTs to be stored on the Bitcoin blockchain . advertisement Stacks (STX) Bags Inflows In the last two weeks, Stacks noted a massive price surge, but today, the altcoin exploded and rose by 66.84%. In doing so, the coin marked a local top of $0.6831. But the bullishness over the last 30 days combined with the cues from the broader market is the actual reason behind this rise. Source – CoinMarketCap According to data from the crypto market tracker CoinMarketCap, STX has observed rising bullishness since the beginning of this year, after successfully marking a bullish crossover on the day before. In the past four weeks, the token has surged nearly 120%, putting it among the top-performing cryptocurrencies so far. Transaction Volume Soars by 500% Stacks (STX) is currently ranked the 52nd-largest digital asset by market capitalization, but...

Also Read: Binance Looks To Deregister As Crypto Service Provider In Cyprus advertisement Yet, market participants could likely look closely for hints on what lies ahead, as against the current interest rate hike decision, assuming there will be a Fed pause. Encouraging statements in Jerome Powell speech could lay a foundational rally for weeks ahead, as fears of global market concerns still remain. Powell speech will begin at 2.30 pm eastern standard time. Deutsche Bank Predicts Big Reaction From Powell press conference While the CME FedWatch Tool shows a 97.7% probability of a Fed pause, it is the forecast about conditions in the upcoming FOMC meetings that could have a big impact following the announcement, Deutsche Bank said. Although the bank did not specify Bitcoin price or Crypto Market s particularly, previous FOMC meetings showed an immediate ripple effect from financial markets to the Crypto Market . The bank noted, “Market pricing is curre...