The market has tilted in favor of Stacks (STX) as the token continues its upward momentum. At the time of writing, CoinGecko notes, solid profit of 18% last week as it captured bullish market momentum despite yesterday’s miniature decline. Since then, STX has attracted more investors as it has shown strength despite volatility.

As STX surges, investors and traders weigh in on-chain events that have taken place this week. With novel additions that improve both security and user experience on the platform, we could see STX surge even higher in the coming weeks.

Security improves UX in stacks

Zest Protocol announced its novel system aimed at improving the security of shrewd contracts on Stacks. The auditing group, called Clarity Alliance, will give the network better protection against malicious actors who could exploit certain weaknesses in Stacks itself.

1/ We are joyful to share a major improvement in the shrewd contract security ecosystem @Bookshelves Blockchain

After working with multiple auditors on Clarity shrewd contracts on Stacks, we saw a significant need for a higher quality audit group.

Introducing: Clarity Alliance 👇 photo:twitter.com/ZmDedxa9bV

— Zest Protocol 🍊 (@ZestProtocol) August 21, 2024

“When the Zest protocol launched, we experienced first-hand the shortcomings of the security ecosystem around Clarity, Stacks’ smart contract language,” Zest wrote in the announcement thread.

According to the thread, the Clarity Alliance is comprised of “the highest-ranking white-collar hackers in the cryptocurrency industry,” whose credits include auditing Bitflow, a market aggregator on Stacks.

The skin too he partnered With Hypernative Labs to track incidents and detect potential attacks before they occur.

Trading range of $1.5-$1.6 remains powerful for STX

At the time of going to press, the token had entered a price range of $1.50-$1.60, with bulls successfully managing to ponderous down the bearish momentum that had been building over the past few days. This, along with the general bullish on-chain events, helped STX maintain profitability despite the market declines that have been taking place this week.

STX’s current position opens up opportunities that were not seen before the rally the token experienced earlier this month. With this in mind, the STX Relative Strength Index reveals an overall bullish narrative.

This leaves STX with the potential to maintain this trading range before resuming its upward trajectory. If the token regains momentum in the shorter term, we could see a move back to $2 and beyond if the momentum holds. However, its significant correlation with Bitcoin could be a double-edged sword for STX.

Any market movement in BTC, in the long run, will be amplified and felt by the miniature STX market compared to the top cryptocurrencies. If Bitcoin suddenly reverses, returning to sub-$60k levels, STX will potentially fall below its current trading range towards $1.2 or $1 respectively.

For now, investors and traders should monitor overall market fluctuations before making any major decisions.

Featured image from Xverse, chart from TradingView