Stacks (STX) jumped more than 20% in 24 hours after founder Muneeb Ali returned as Stacks Labs CEO. The token trades near $0.38 as the network prepares to more than double the capacity of its institutional Bitcoin staking program on Oct. 10.
STX surged over 20% in the past day, touching $0.3847 after Stacks Labs named Muneeb Ali as chief executive. The rally comes as the network prepares to expand its Bitcoin staking program this month.
Stacks price rallies as Muneeb Ali takes over
Stacks Labs announced on Sept. 30 that Ali will take over day-to-day leadership from interim CEO Alex Miller, who moves into an advisory role. CoinGecko data showed STX up roughly 20.8% over 24 hours and 27.4% over seven days, with trading volume above $140 million and a market capitalization near $719 million.
Ali said his priorities include bringing more Bitcoin capital onto the network and increasing institutional adoption. According to Ali: "more bullish on STX than ever before", though his appointment alone does not establish that the leadership change caused the rally. STX is also trading alongside developments in Bitcoin staking, institutional custody and new STX demand tied to the bond system.
Bitcoin staking creates another source of STX demand
Stacks launched its Genesis Bond on Sept. 10 with institutional participants including 21Shares, HashKey Cloud, UTXO Management and Sypher Capital. The product lets participants lock Bitcoin staking positions on Bitcoin L1 alongside STX and earn BTC-denominated rewards from Stacks miners. As of Sept. 24, participants had bonded approximately 230 BTC alongside 310,000 STX and received 0.28 BTC in weekly rewards, a requirement worth roughly 5% of the bonded Bitcoin.
The next Stacks bond doubles Bitcoin capacity
Bonding Period 2 opens Oct. 10 with capacity for 500 BTC, more than twice the roughly 230 BTC active in the Genesis round. About 10% of that capacity will be reserved for pools, while institutions holding at least 50 BTC can apply for the self-custodial route. Anchorage Digital said it is building support that would let clients stake through Stacks while keeping Bitcoin in custody with Anchorage Digital Bank, though the integration does not yet represent new deposits.
Can Stacks price break above $0.40?
STX recently touched an intraday high near $0.4142 before pulling back toward $0.38-$0.39, making the $0.40-$0.414 zone the first resistance level to watch. The Aroon Oscillator sits at +100, confirming the strength of the recent upward move but not whether STX is overbought. The 14-period Average True Range stands near $0.0306, roughly 8% of the current price, pointing to elevated volatility in either direction. Holding above $0.35 would preserve the recent higher-low structure, while Stacks' next scheduled event remains the Oct. 10 opening of Bonding Period 2.
Source: crypto.news
Trading involves risk.
Risk Disclaimer
