Stack (STX) price increased as inscriptions increased transactions.

Stack (STX) price has risen by 16% in the last 24 hours, a level seen last March. Bitcoin's layer for smart contracts has seen a huge increase in writes, recording more than 10k transactions per block.

Stack (STX), a Layer 2 smart contract that aims to unlock the Bitcoin economy, has risen more than 16 percent in the past 24 hours.

According to market data from CoinGecko, the price of Stax has risen as high as $1.19 on major exchanges. STX's market value has risen above $1.7 billion, and the last time STX traded at these levels was in March of this year.

As seen in the crypto market today, a rally in Stax bucked broader losses in altcoins, with Bitcoin (BTC) also nearing $41k.

STX's price surged amid a frenzy of articles.

The last few weeks have seen a new frenzy in articles, the metadata included in satoshis (sats), the smallest unit of Bitcoin. The popularity of these inscriptions, images and other metadata (NFTs on Bitcoin) has soared amid BTC price increases.

For Stack, there was a huge spike in transactions in the early 24 hours on Sunday and Monday, recording more than 10k transactions per block. On-chain data showed that the 132,377 block on L2 reached 10,371 transactions, the highest number of transactions in a single stack block.

Munib Ali, the co-founder of Stax, has done the hard work of bitcoin dynasties, resulting in blocks that resulted in eight to ten times more transactions.

For Bitcoin degens GM who did a heavy mint on Stacks L2 yesterday.

It would be great to see blocks with 8x-10x more transactions. Most of the utility improvements go hand in hand with the Nakamoto release and WASM.

— muneeb.btc (@muneeb) December 18, 2023

Apart from smart contracts, NFT capabilities and Diff capabilities, the Stax L2 solution allows for increased transaction speed and reduced fees.