Stacks (STX) Rallies 12% Against Post-Hack Altcoin Selloff
Key Takeaways
- •Stacks (STX) rose approximately 12% in 24 hours to $0.315, the largest gain recorded by any token among the top 100 cryptocurrencies by market capitalization.
- •A hack targeting Binance stripped roughly $80 billion from the total cryptocurrency market capitalization, and most top-100 tokens traded lower as the market absorbed the fallout.
- •STX's double-digit advance was a counter-trend move, with the top 100's biggest gainer moving opposite to the direction of most of its peers.
- •The 12% gain reflects a single 24-hour reading taken at 12:10 UTC on October 31, 2026, so it captures relative performance at that moment rather than an established longer-term trend.
- •Stacks anchors its network to Bitcoin through the Proof of Transfer consensus mechanism, and its Nakamoto upgrade in late 2024 improved block times and finality while introducing sBTC, a Bitcoin-backed asset usable in Stacks applications.
Stacks (STX) Rallies 12% Against Post-Hack Altcoin Selloff
Stacks (STX) climbed about 12% over the past 24 hours to $0.315, the largest gain recorded by any token in the top 100 by market capitalization, according to readings taken at 12:10 UTC on Saturday, October 31, 2026.
The advance stood out against a broadly weaker altcoin field. A hack targeting Binance stripped roughly $80 billion from the total cryptocurrency market capitalization, and most top-100 tokens traded lower as the market absorbed the fallout. Against that backdrop, STX's double-digit move made it the standout performer among major digital assets during the session — a counter-trend result in which the top 100's biggest gainer moved in the opposite direction of most of its peers.
That divergence is what gives the reading its significance: with the aggregate market shedding roughly $80 billion on the hack, the day's strongest large-cap performance came from a token whose network is anchored directly to Bitcoin. The 12% figure reflects a single 24-hour reading taken at 12:10 UTC, so it captures relative performance at that point in time rather than a longer trend, and subsequent top-100 readings will show whether the divergence held as the market continued to absorb the hack's fallout.
Stacks is a layer network built to bring smart contracts and decentralized applications to Bitcoin, and was formerly known as Blockstack. Its native asset, STX, serves as the fuel for smart contract execution on the network. Stacks anchors itself to the Bitcoin blockchain through the Proof of Transfer (PoX) consensus mechanism, under which miners commit Bitcoin to participate and new Stacks blocks are settled on the Bitcoin chain. The protocol's Nakamoto upgrade, rolled out in late 2024, improved block times and transaction finality and introduced sBTC, a Bitcoin-backed asset designed to make BTC usable within Stacks-based applications — mechanics that tie the network's operation directly to Bitcoin.
This content was first published on COINOTAG: https://en.coinotag.com/stacks-stx-rallies-12-percent-altcoin-selloff
