Sequential excitement on Bitcoin Spur STX
US stock markets were mixed in the night after the release of the FED's February meeting minutes.
Bitcoin and Ether are up 1.08% and 2.17% respectively in the last 24 hours at the time of writing. Today's hot token is STX, which recorded a 24-hour return of 24.18%, beating the market due to the Ordinal inscription scam on the Bitcoin network.
Sequential excitement on Bitcoin Spur STX
STX is the native symbol for Stacks, a blockchain network that connects to Bitcoin and leverages Bitcoin's superior security. As the Ordinal inscription craze continues on the Bitcoin network, the potential of Bitcoin to become a smart contract platform is attracting investors. Stacks has built its products around the Bitcoin network, including a bridge to and from Bitcoin with sBTC, and a language that allows the use of smart contracts on the Bitcoin network. Therefore, the increase in STX is attributed to the expectation of investors that Stacks will benefit from more developers entering the Bitcoin network with their toolkit.
Flashbots, the developer behind MEV-Boost, proposes a new MEV-Share software to distribute earnings more broadly. The Flashbots team has begun research and development on the "maximum extractable value", called MEV, which represents the profit that validators earn when adding blocks to blockchains by exploiting blockchain users. Ethereum validators have widely adopted MEV-Boost to increase their returns, while the new MEV-Share aims for greater collaboration between searchers and users. Essentially, MEV-Share aims to share rewards with blockchain users, a lofty goal that can address the inequality behind MEV.
