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Stacks Announces Partnership with Luganodes

Luganodes, a prominent blockchain infrastructure provider, has declared its backing for Stacks. Luganodes will participate in Stacks (STX) as a signer, validating nodes, processing transactions, and bolstering its security. Additionally, it will advocate for sBTC, a novel wrapped Bitcoin token set to debut on Stacks (STX).

This announcement has the potential to positively impact Stacks’ (STX) market performance. On January 18, STX was trading at $1.4845. It experienced an 11.9% surge to $1.6607 by February 7. Subsequently, STX catapulted to $2.7067 by February 20 following a remarkable 62.9% leap.

The introduction of sBTC will coincide with Stacks’ (STX) Nakamoto upgrades, while also facilitating the advancement of the next generation of DeFi services developed on Stacks (STX). Analysts suggest that Luganodes could play a crucial role in driving adoption of sBTC, potentially prompting a 12.9% increase in STX value to reach $3.0568.

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