Stacks (STX) fell sharply to $0.13 after Binance-related concerns triggered heavy selling pressure and pushed the token below a key support level. The decline came despite continued attention around the network’s upcoming PoX-5 hardfork, which many participants had expected to support confidence in the ecosystem.

Stacks is a Bitcoin-focused smart contract network, and its Proof-of-Transfer design links network activity and upgrades closely to consensus-level coordination. That makes exchange readiness especially important around hardforks, because trading venues often need to complete technical checks before treating upgraded networks as fully supported.

Weak on-chain activity added to the pressure, as recent development progress has not yet translated into stronger user engagement. With sellers still dominating short-term trading, $0.10 has emerged as the next critical support level being watched by traders.

Binance Tag Concerns Add to Selling Pressure

Stacks came under heavy selling pressure on July 25 after losing the important $0.16 support zone. The move ended several weeks of sideways trading and shifted control firmly toward sellers. STX quickly dropped to $0.13, its lowest level since mid-2020.

At press time, STX was trading near $0.138 after another 6.2% daily decline. The speed of the sell-off surprised many investors because expectations around the PoX-5 upgrade had continued to build in the market.

Much of the concern centered on a Binance tag attached to STX. Exchange labels can affect short-term sentiment because they are visible to traders and may raise questions about listing status, technical support, or perceived risk. The Stacks Endowment addressed community fears soon after the issue drew attention. Team members said discussions with Binance were ongoing to resolve the matter. According to the project, the exchange likely applied the tag because of the upcoming PoX-5 hardfork.

Developers also said other major centralized exchanges had received advance notice of the network upgrade and had already confirmed support. Community member Reubs added that Binance should remove the tag after completing the required consensus-level changes.

Even after those reassurances, confidence continued to weaken. Traders remained cautious, leading to another round of selling pressure. The PoX-5 hardfork remains scheduled for July 29 and follows strong community approval of SP 044 and SP 045. Developers have described PoX-5 as a major milestone for the Stacks ecosystem.

On-Chain Activity and Technical Indicators Remain Weak

Network activity presents another challenge for STX. Token Terminal data shows daily active users have fallen to roughly 1,100. Activity on the network has returned to levels last recorded in January 2026, suggesting the upcoming hardfork has not yet attracted substantial new participation.

Lower activity can reduce demand for a native token, particularly when price action is already under pressure. For networks built around applications and transaction usage, daily active user trends are one way traders assess whether protocol upgrades are being matched by actual adoption. Technical indicators also continue to favor sellers. The Relative Strength Index (RSI) formed a bearish crossover before moving into oversold territory. An RSI reading near 23 indicates strong selling pressure.

Spot market data showed a similar pattern. Sell volume rose to 4.98 million, while buy volume slipped to 4.24 million. In earlier sessions, buyers had pushed volume above 20 million, but that strength has since faded.

With buyer momentum weakened and sellers still controlling short-term direction, STX remains vulnerable to another decline unless demand improves around the network and its upcoming PoX-5 upgrade. Traders are likely to keep watching whether Binance removes the tag after completing its hardfork-related checks and whether post-upgrade activity begins to recover.