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Bitcoin L2 Stacks (STX) has ripped nearly 50% this month to set a new cycle high! What catalysts are propelling its rise?
As a Bitcoin beta play, STX has benefitted from positive spot BTC ETF developments, with outflows from these instruments peaking on January 22, a date that marks the bottom for both BTC and STX.
The two tokens gained steam into the end of January as ETF outflows tapered and have exploded since February 5 as inflows began to accelerate.
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