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Stacks (STX) crypto on cloud 9 after Bitcoin Odyssey announcement


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Every time we discuss of Bitcoin, we hardly ever affiliate it with varied DeFi, DApps, DAOs, NFTs tasks. In truth, even a eager follower would maybe title Ethereum or a Solana as their favorite blockchain community for such tasks. However now, Stacks blockchain (STX) together with cryptocurrency trade Okcoin goals to vary that notion with the launch of a venture known as the Bitcoin Odyssey.

The Bitcoin Odyssey is predicted to be a year-long program that goals to herald the Web3 revolution to the Bitcoin blockchain. With an funding of about US$165 million into merchandise, the duo seeks to speed up Bitcoin (BTC) adoption.

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Crypto trade Okcoin feels that Stacks is a perfect companion on this formidable venture contemplating that STX as a Layer-1 blockchain resolution provides decentralised purposes (DApps) and good contracts to Bitcoin. This has resulted within the STX receiving vital market curiosity because it was up by over 25% on 11 March.

Additionally learn: Inexperienced Metaverse Token (GMT): Why is it drawing consideration?

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What’s the Bitcoin Odyssey venture?

As a year-long pledge, the Bitcoin Odyssey goals to deploy the million-dollar fund into merchandise that assist in the acceleration of Bitcoin adoption. Stacks blockchain, based by Muneeb Ali and Ryan Shea in 2016, believes that it’ll drive extra participation. Munneb, in a tweet, said that the fund is backed by the likes of Digital Forex Group, GBV Capital, White Star, GSR, amongst others.

Picture Credit score: Twitter @muneeb.btc (Muneeb)

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The fund will likely be utilised to develop varied Web3 tasks, which embody play-to-earn video games, borrowing, lending, self-repaying loans, metaverse tasks, and many others. In addition to, it’s also anticipated to assist different tasks equivalent to CityCoins and different GovTech tasks.

Additionally learn: Why is European Union’s MiCA invoice vote one to be careful for?

How is STX crypto faring?

This Bitcoin Odyssey announcement appears to have spurred curiosity within the blockchain community. STX crypto was buying and selling at US$1.37 with a quantity of US$764,759,244 over a day, in accordance with CoinMarketCap. The token was up by 29.82%, with a reside market cap of US$ $1,806,509,493. The efficiency is important as a result of it has been below a bull run over the previous week, and this announcement appears to have given it further wings, even when the market is down.

In truth, from the quantity perspective, the STX crypto noticed vital curiosity because it was up by 4084.63%.

Whereas the bull run of the token is spectacular, it’s essential to know that cryptocurrencies are risky property. The Bitcoin Odyssey has spurred some curiosity within the STX crypto. Nonetheless, it might be advisable that readers research the development and do their respective market analysis earlier than making any selections.

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