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Bitcoin L2 Stacks (STX) price drops heavily after transaction suspension

  • Stacks (STX) drops 2.5% as Bithumb announces temporary halting of transactions.
  • Network upgrades aim to boost Stacks’ security and features.
  • The suspension of transactions is scheduled to begin on July 29.

Stacks (STX) token has seen its price drop by 11.4% in a week, even as the Bitcoin (BTC) price remains largely bullish.

The decline comes at a time when excitement is building around Bitcoin-based DeFi and key network upgrades are underway.

However, a major development from South Korean exchange Bithumb appears to have influenced investor sentiment, triggering notable short-term pressure on the STX token.

Price pressure hits Stacks (STX) despite DeFi momentum

STX is currently trading at $0.7786, marking a drop of 2.5% today and a sharp 11.4% decline over the past seven days.

This drop comes even as Bitcoin, the asset it is built to complement, maintains a largely positive trend.

The downward move has raised eyebrows among market watchers, especially given the recent momentum around the Stacks DeFi ecosystem.

But despite the drop, STX has still gained more than 15% over the last month, driven in part by the ongoing “STX DeFi SZN” campaign — a collaborative launch among leading Bitcoin DeFi protocols.

Through a partnership with Zealy.io, the campaign is offering 50,000 STX in rewards for users completing on-chain quests.

While the broader DeFi push is designed to strengthen the ecosystem, it hasn’t been enough to offset short-term fears triggered by external factors.

Bithumb’s temporary suspension fuels uncertainty

One of the main catalysts behind STX’s recent price dip is the news of Bithumb’s announcement of a temporary suspension of STX deposits and withdrawals.

Scheduled to begin at 03:00 UTC on July 29, according to a report by Bitcoin World, the suspension is aimed at supporting a significant upgrade of the Stacks network.

For many traders, however, the move has sparked concern.

Even though such suspensions are standard during blockchain upgrades, the market often reacts with caution.

Investors worry about temporary inaccessibility and possible disruptions in trading activity.

As a result, some may have opted to sell early to avoid complications, contributing to the current price decline.

Stacks upgrades bring long-term promise

The Stacks Network upgrades themselves are crucial milestones for the network.

Stacks is a Bitcoin Layer 1 blockchain that enables smart contracts and decentralised apps (dApps) to run using Bitcoin as the settlement layer.

It brings programmability to Bitcoin without changing Bitcoin itself.

Transactions on Stacks are automatically hashed and secured by Bitcoin’s hashpower through a mechanism known as Proof of Transfer (PoX).

This approach makes Stacks one of the most secure smart contract layers available today.

The upcoming upgrade is expected to enhance this security while improving performance and enabling new features for developers and users alike.

Moreover, STX plays a central role in this ecosystem. It is used for transaction fees, governance decisions, and stacking, where users can earn Bitcoin by locking their tokens.

As the Stacks network upgrades progress, STX may gain greater utility and adoption, potentially reversing the current downtrend over time.

The post Bitcoin L2 Stacks (STX) price drops heavily after transaction suspension appeared first on CoinJournal.

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Bitcoin Cash up 7% as bulls defy BTC dump, eye gains on rising volume

  • Bitcoin Cash has seen a notable surge in the past 24 hours, gaining 8% to $554.
  • The altcoin sees gains as Bitcoin price dumps amid massive sell-off pressure.
  • With trading volume up 44% and rising open interest also surging, BCH could defy the benchmark asset’s dip further and eye highs last seen in December 2024.

The Bitcoin Cash (BCH) price currently stands at approximately $551.

While it’s off its intraday highs of $554, it remains above the $550 mark, up as one of the top gainers in the past 24 hours.

According to CoinMarketCap, this comes as Bitcoin’s latest correction has many altcoins also showing weakness.

Bitcoin Cash defies BTC dump with 7% gain

BTC dropped to below $115k after Galaxy Digital, a prominent crypto investment firm, offloaded 30,000 BTC in under 24 hours.

Liquidations spiked amid the Bitcoin dump, but Bitcoin Cash looked to buck the trend.

Its intraday gains of over 8% see it rank among the top performers in the 100 largest cryptocurrencies by market cap.

Bitcoin Cash price chart by CoinMarketCap

Notably, gains keep BCH in an uptrend over the longer time frames. The altcoin’s price is on an upward trajectory since touching lows of $268 in April 2025.

Also, the price gain amid a 44% increase in trading volume to over $870 million suggests potential buying pressure.

Crypto analyst CW points to increased whale interest, particularly in China.

Is BCH poised for a rally to $1,000?

BCH price last traded at $1,000 in May 2021, at the time when bears pushed it lower from above $1,427.

In the past year, an attempt by buyers to reclaim the level fizzled out at around $624 in December 2024.

While the cryptocurrency has struggled for upside momentum, analysts are increasingly optimistic about Bitcoin Cash’s potential to rally toward $1,000.

Other than the overall long-term bullish sentiment around crypto, the short-term picture highlights robust market metrics and technical outlook.

BCH price chart by TradingView

For instance, open interest in BCH derivatives has jumped 24% to $533 million, with volume 28% up to over $1.3 billion.

A surge in speculative activity signals bullish confidence in the token’s price.

The technical picture further bolsters this bullish outlook.

The Relative Strength Index (RSI) currently reads 63.

Meanwhile, the Moving Average Convergence Divergence (MACD), is also flashing a bullish crossover to hint at potential short-term upward pressure.

If bulls manage a breakout to the supply wall at $540-$565, they could retest the $620-$650 area.

Above this, resistance above $700 could allow bulls to target $1,000. Conversely, support lies around $480 and then $380.

The post Bitcoin Cash up 7% as bulls defy BTC dump, eye gains on rising volume appeared first on CoinJournal.

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TRX price forecast as Tron lists TRUMP and Tron Inc. goes public on Nasdaq

  • TRON Inc. has been publicly listed on Nasdaq, boosting TRX market visibility.
  • TRON has integrated the TRUMP memecoin with cross-chain LayerZero support.
  • TRX holds bullish momentum with $0.33 as the key short-term target.

The TRON ecosystem is experiencing a defining moment in its evolution as a blockchain platform.

Following the launch of the politically themed TRUMP token and the landmark public listing of Tron Inc. on the Nasdaq, investor attention has sharply turned toward TRX, the native token of the TRON network.

Notably, these events, alongside strong Q2 growth metrics, are reshaping short-term and long-term expectations for TRX’s price trajectory.

Tron Inc. goes public, drawing Wall Street’s attention

TRON founder Justin Sun rang the opening bell at the Nasdaq MarketSite in Times Square this July, marking the public debut of Tron Inc. (Nasdaq: TRON), a newly formed entity resulting from a reverse merger with SRM Entertainment.

Formerly a toy supplier to entertainment giants like Disney and Universal, SRM now maintains its original business while adding a crypto-focused strategy under the Tron Inc. banner.

Tron Inc. currently holds more than 365 million TRX tokens, making it the largest public holder of TRX. At press time, the holding was valued at approximately $115 million.

This level of exposure has significantly raised the profile of TRX in traditional financial markets despite shares of Tron Inc. closing at $8.74, down over 10%, hinting at market volatility amid the transition.

TRUMP token expands TRON’s political footprint

Adding further momentum to TRON’s ecosystem, the blockchain recently integrated the $TRUMP token, leveraging LayerZero’s Omnichain Fungible Token (OFT) standard and Stargate Finance’s cross-chain infrastructure.

This move allows $TRUMP to flow seamlessly across blockchains without needing bridges or wrapped tokens, offering a scalable, low-fee environment ideal for mass adoption.

TRON’s DAO views this integration not just as a listing but as a cultural step forward, signalling support for politically resonant digital assets.

Alongside the rising profile of MAGACOIN Finance, the addition of $TRUMP underscores TRON’s willingness to embrace community-driven tokens with real-world themes.

This trend could continue, further expanding TRON’s reach in the altcoin and DeFi space.

Strong Q2 numbers back the bullish case for TRON

TRON’s recent performance reinforces its bullish foundation. According to data from Messari, the network’s market cap surged by 17% to $26.5 billion in Q2, while revenue climbed over 20% to reach $915.9 million.

Stablecoins remain at the heart of this growth, especially USDT, which accounts for over 99% of TRON’s stablecoin volume.

TRON now facilitates over $21.3 billion in daily stablecoin transfers, a jump of 11.6% from the previous quarter.

Activity across the chain has also grown, with daily transactions rising 12.6% to 8.6 million and active addresses reaching 2.5 million.

The recent Stake 2.0 upgrade helped push the staking ratio to 47.1%, reinforcing long-term investor confidence.

Although DeFi metrics were mixed, with TVL dipping slightly to $4.6 billion, decentralised exchange volumes rose by 25%, led by SUN V3, indicating that traders remain active even as overall DeFi values fluctuate.

TRX price eyes higher targets amid the steady uptrend

Technically, TRX has maintained an upward trend since late June, bouncing off key support levels and forming consistent higher lows.

After reaching a recent high near $0.335, the token underwent a healthy correction but quickly found strong support around $0.3067.

This level, near the 100-period moving average and an established trendline, continues to hold firm.

The current price hovers around $0.3149, and short-term momentum suggests another upward push may be in play.

If TRX can maintain this bullish structure, analysts anticipate a return to the $0.33–$0.335 zone, which has acted as both a resistance and previous high.

Actually, some data analysts like CW believe the next target for $TRX is $0.38, which is the 1.618 Fibonacci.

Traders should closely watch the $0.3067–$0.31 range for any sign of weakness.

A breakdown could signal a deeper correction toward $0.29 as outlined by CoinLore.

However, as long as the price stays above trend support, the bulls remain in control, and this scenario is more likely given the increased exposure from Tron Inc.’s Nasdaq listing and TRON’s expanding utility.

The post TRX price forecast as Tron lists TRUMP and Tron Inc. goes public on Nasdaq appeared first on CoinJournal.