Stacks (STX) has been one of the stronger crypto performers over the past week. STX is trading around $0.38–$0.39 after gaining roughly 20% to 25% from late-September levels. CoinGecko data shows STX closed near $0.3169 on September 29 and around $0.3844 on October 6. The move has been driven by stronger Bitcoin staking economics, more institutional participation, and a successful Q3 network upgrade, according to incoming Stacks Labs CEO Muneeb Ali.
Ali reported that BTC yield increased by 72.15% over the last four cycles after the activation of SIP-45, which attracted more miners, improved mining efficiency, and strengthened the STX/BTC ratio. Locked STX also rose from about 392 million at the time of the Satoshi One upgrade to roughly 448 million, including a jump of around 20 million STX just before Bitcoin Bond 1 went live. That has reinforced an economic loop in which demand for Bitcoin-native yield drives demand for STX staking capacity.
Institutional demand has been another factor. Bitcoin Bond 1 sold out its available capacity, with participation from 21Shares, UTXO Management, and HashKey. Anchorage announced support for Bitcoin Bonds, joining Fireblocks and Fordefi, while new signers such as Ankr, The Tie, and HashKey Cloud came online. The Satoshi One upgrade was completed with 99.98% uptime and only a small delay as signers upgraded, removing execution risk.
Meanwhile, TRON (TRX) is trading at $0.3332 on October 7, back at its 200-day simple moving average of $0.3321 for the first time since the June recovery began. Sellers rejected the price at $0.35 twice in five weeks, forming an unconfirmed double top. The RSI fell from 73 at the first peak to 62 at the second, while trading volume was lower on the second attempt. A daily close below $0.3225 would confirm the pattern with a projected target near $0.295; a close above $0.35 would cancel it and target about $0.3775.
TRX has not yet reacted to several September catalysts. Canary’s staked TRX ETF (TRXS) began trading on Cboe BZX as the first US ETF with direct spot exposure to TRX, and Trust Wallet, MetaMask connectivity, Ethena’s USDe/sUSDe, Ducat, Privy, and OpenZeppelin integrations were announced. TRXS had 89.91% of its holdings staked as of October 5, but with about $50.5 million in net assets against a $31.65 billion TRX market cap, the supply effect remains negligible so far.
