Stacks (STX) crashed to $0.13, a 6-year low, on July 25th. The decline was driven by market concerns over the token’s tag on Binance. The Stacks team acknowledged the concern and stated it was in contact with Binance to resolve the issue, adding that the tag change was likely related to the upcoming PoX-5 hardfork scheduled for July 29th. Despite the rollout of the PoX-5 testnet and the support of major CEX partners, on-chain activity remains weak with daily active users at just 1.1k. Technical indicators show seller dominance with RSI at 23 and sell volume at 4.98 million against buy volume of 4.24 million, pointing to extended weakness with $0.1 as critical support.
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