STX, the native token of the Bitcoin layer-2 project Stacks, has risen nearly 10% in 24 hours, 14% over the past week and more than 50% over four weeks, outperforming bitcoin, ether and XRP. The rally likely reflects interest in Stacks’ non-custodial bitcoin staking, which lets BTC holders earn yield on the Bitcoin blockchain without giving up their private keys. The upcoming “Bonding Period 3” in November requires participants to lock STX equal to roughly 5% of their BTC’s value, which can pull STX out of active circulation as more BTC enters the ecosystem. BDX, REDNER and PYTH also gained 6% each, while analysts are watching Wednesday’s U.S. CPI report for its possible impact on Federal Reserve rate expectations.
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