The Stronghold (SHX) token exhibits significant growth amidst the unstable conditions in the cryptocurrency market, while major cryptocurrencies like Bitcoin and Ether display declines.
SHX Growth Statistics
According to CoinMarketCap, the SHX token rose by 12% on June 2, significantly outperforming Bitcoin and Ether, which posted modest gains of 3.86% and 5.5%, respectively. SHX climbed from a daily low of $0.01125 to a high of $0.01280, reflecting a 40% monthly increase.
Why is SHX Rising?
The primary driver for SHX's growth is the upcoming launch of the escrow service, confirmed by Stronghold's CTO Sean Bennett. This service targets pain points in global B2B payments, where traditional systems often take 2-5 business days for cross-border settlements. Data from the Stellar network shows an average transaction finality of 3-5 seconds.
Current Trends and Perspectives for SHX
Another factor contributing to SHX's rise is Stronghold's public alignment with sustainability goals amidst increasing ESG scrutiny in the crypto space. The platform’s utilization of the Stellar network emphasizes energy efficiency. While the direct impact on valuation remains unconfirmed, the low-carbon architecture consuming only a fraction of a watt per transaction may positively influence SHX's perception among environmentally conscious investors. However, after peaking near $0.01445 in mid-June, the token is experiencing volatility, indicating a possible consolidation phase.
The rise of the Stronghold (SHX) token in contrast to other cryptocurrencies highlights investor interest in tokens associated with real-world applications and underscores the industry's push for sustainability.
