#BTCBreaks99K Bitcoin Bobs Back Above $97,000; Stacks Surges On Layer-2 Hopes
Bullishness is running relatively higher on a Fed-decision Wednesday despite a range of hostile situations around the globe.
Bitcoin, as of 10 a.m. (EST), was holding tightly to $97,200 on a spot price increase of 3.3% over the past 24 hours, according to CoinGecko.
Litecoin (No. 25) sports one of the more impressive gains (+10%) of the day as it reacquaints with $90.
Among the Top 100 coins in terms of their market capitalization, Stacks (STX), dubbed "a Bitcoin layer-2 solution," is way out ahead of the pack today, enjoying a 24-hour increase of 17%. It's now nearly 90 cents.
According to The Block, Bitcoin Core developers, as part of an upcoming software release, plan to remove the long-standing 80-byte size limit on OP_RETURN outputs, thus allowing for greater amounts of ancillary data to be embedded into transactions. Nixing the cap garnered broad — but not unanimous — support, according to The Block, citing the developers' GitHub discussion. This tweak continues to stir disagreement within the dev community as reflected by debates across GitHub and social media. Bitcoin Core developers have not set a release date for the proposed update.
It's a move that could create a DeFi element to the Bitcoin network, which might bode well for STX, which rose to prominence in the early part of last year at the start of the ordinals and inscriptions boom. It was April of 2024 when STX reached its all-time high of $3.84.