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The cryptocurrency market staged a remarkable recovery last week, with several coins posting double-digit gains. Stacks (CRYPTO: STX), a <a href="https://xpertsstudio.com/bitcoin-rides-debasement-trade-to-three/” title=”Bitcoin rides debasement trade to three”>Bitcoin (CRYPTO: BTC) Layer-2 token, outperformed them all.
STX Doubles in Value
STX exploded over 100% to become the market’s most successful cryptocurrency in the last seven days. The gains widened after a 6.45% uptick on Monday.
STX’s trading volume spiked 6.36% over the last 24 hours to $437.74 million, signaling strong buying interest.
The STX rally followed Bitcoin’s strong weekly gains, which lifted the cryptocurrency to $80,000 for the first time in more than three months.
STX is the native coin of Stacks, a layer-2 solution that helps the development of decentralized applications on the Bitcoin blockchain. Put simply, it helps unlock Bitcoin’s DeFi use cases.
These Coins Also Returned A Handful
Official Trump(CRYPTO: TRUMP)ranked among last week’s biggest winners, with the President Donald Trump-themed memecoin surging 80% to become the market’s third-largest gainer.
PENGU, the native token of popular NFT brand Pudgy Penguins, jumped nearly 70% over the week, while frog-themed memecoin Pepe(CRYPTO: PEPE) lobbed 63%.
The overall cryptocurrency market expanded 24% in a week from $2.18 trillion to $2.72 trillion.
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