The Stacks ecosystem is experiencing a surge in cumulative unique wallets across all protocols, with StackingDao leading the charge at 35,011 unique wallets.
This growth highlights the increasing adoption and activity within the Stacks network.
If this is not Bitcoin L2 adoption with Stacks, tell me wtf this is
Cumulative unique wallets are surging across all @Stacks protocols, with @StackingDao leading the charge at 35,011 unique wallets. 🔥
Data on @signal21btc pic.twitter.com/sb2H4kKzHi
— Algorithm.btc (@godfred_xcuz) June 13, 2024
In the first half of 2024, Liquid Stacking on Stacks has flourished, with liquid stacked $STX now totaling 58 million $STX, equivalent to $122 million.
A significant portion of this growth can be attributed to StackingDao, which alone accounts for 53.3 million $stSTX. This robust performance underscores the appeal of Stacks’ liquid stacking options and the confidence users have in the protocol.
Liquid Stacking on @Stacks has flourished in H1 2024, with liquid stacked $STX now totaling 58M $STX or $122M! 🚀
🟢A significant portion of this growth is attributed to @StackingDao, which alone accounts for 53.3M $stSTX.#bitcoin #BitcoinDeFi #DeFi pic.twitter.com/EoJj2HlzBX
— Stacksy.btc (@Stacksybtc) June 14, 2024
Slight Interruption Experienced Amidst Surge In Unique WalletsÂ
However, the network faced a notable challenge today with a block generation interruption. The Bitcoin L2 network Stacks paused block generation for more than nine hours between blocks 153917 and 153918. Although block generation resumed at 21:20 UTC+8, only two new blocks were generated thereafter. This isn’t the first time Stacks has encountered such issues; block generation problems have occurred multiple times this year.
The Bitcoin L2 network Stacks had a block interruption today, pausing block generation for more than 9 hours between blocks 153917 and 153918. Block generation resumed at 21:20 UTC+8, but only two new blocks generated. Stacks has had block generation problems many times this…
— Wu Blockchain (@WuBlockchain) June 14, 2024
Despite these technical setbacks, the surge in unique wallets and the growth in liquid stacking reflect a resilient and expanding ecosystem. The Stacks community continues to show strong engagement, leveraging the protocol’s capabilities to enhance their blockchain interactions.
In conclusion, while Stacks has faced block generation challenges, the overall growth in unique wallets and liquid stacking paints a positive picture of the network’s development. As Stacks continues to address and resolve its technical issues, the protocol’s increasing adoption and robust stacking activity indicate a promising future for its users and the broader blockchain community.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.