STX, the token of the Stacks layer 1 smart contract platform built around Bitcoin, has seen a remarkable 400% rally since October 2023, with trading volume increasing by 2,600% to $437.6 million by February 22.

This growth surpasses Bitcoin's 90% increase during the same period, with STX outpacing Bitcoin with a 600% year-on-year rise in 2023, according to Messari data.

The surge in interest in Bitcoin layer-2 solutions is attributed to the approval and success of spot Bitcoin ETFs, accumulating over $10 billion in assets under management, alongside innovations within Bitcoin Ordinals, which now have a market cap of $2.5 billion.

This trend underscores growing enthusiasm for Bitcoin's layered solutions, particularly for smart contract deployment, signaling a shift towards valuing technical innovation and unlocking new functionalities within established blockchain ecosystems.