The Ordinals Renaissance | Bankless

STX’s time to shine? Amid an Ordinals Renaissance on Bitcoin, transaction fees have surged to cycle highs and the mempool has gotten heavily congested. Users are getting pushed out towards Bitcoin’s L2s, and the Stacks network is a clear beneficiary of this trend, with STX up 14% on the day.

Much like an Ethereum L2, Stacks users enjoy lower transaction fees and higher throughput than users on the Bitcoin L1. Additionally, Stacks provides smart contract programmability not native to Bitcoin.