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The Ordinals Renaissance

Stacks (STX) is on the rise as Bitcoin's Ordinals Renaissance fuels demand

Jack Inabinet
Dec 18, 2023 • 1 min read

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STX's time to shine? Amid an Ordinals Renaissance on Bitcoin, transaction fees have surged to cycle highs and the mempool has gotten heavily congested. Users are getting pushed out towards Bitcoin’s L2s, and the Stacks network is a clear beneficiary of this trend, with STX up 14% on the day.

Much like an Ethereum L2, Stacks users enjoy lower transaction fees and higher throughput than users on the Bitcoin L1. Additionally, Stacks provides smart contract programmability not native to Bitcoin.

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Written by Jack Inabinet

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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial apartment development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.