Stacks price surged 28.8% over 24 hours to around $0.4039 after founder Muneeb Ali returned as Stacks Labs CEO, according to AMBCrypto data. The token's trading volume exceeded $137 million with market capitalization near $712 million. Ali will take over day-to-day leadership from interim CEO Alex Miller, who will move to an advisory position. The company did not confirm an October 15 start date for Ali's tenure, despite some market commentary suggesting that timeline.
The rally coincides with Stacks' institutional Bitcoin staking program expansion, as reported by multiple sources. Bonding Period 2 opens October 10 with 500 BTC capacity, more than doubling the approximately 230 BTC active in the initial Genesis period. Stacks launched its Genesis Bond on September 10 with institutional participants including 21Shares, HashKey Cloud, UTXO Management and Sypher Capital, who bonded approximately 230 BTC alongside 310,000 STX and received 0.28 BTC in weekly rewards. The network already collaborates with 21Shares, UTXO Management, HashKey Cloud, Anchorage Digital, and Fireblocks for Bitcoin staking operations.
Anchorage Digital is building custody support allowing clients to participate while Bitcoin remains in custody with Anchorage Digital Bank on Bitcoin L1. According to reports, clients will be able to fund bonds from Anchorage accounts, receive BTC rewards, and recover principal at maturity. Approximately 10% of Bonding Period 2's capacity will be reserved for pools, while institutions holding at least 50 BTC can apply for self-custodial routes. The roughly 3% BTC yield advertised is a target rate, not a guaranteed return. Ali has identified 100x capacity, institutional-grade privacy, and post-quantum development as his top priorities for the new leadership phase.
Stacks is currently trading at $0.4039 with a 24-hour trading volume of $137.5 million, representing a 493.70% increase from the previous day. The token has achieved a 26.40% gain over the past seven days and is ranked #96 on CoinGecko. Stacks reached an all-time high of $3.86 and an all-time low of $0.04560, currently trading 90.10% below its peak and 735.20% above its lowest price. The fully diluted valuation stands at $712.09 million with a circulating supply of 1.87 billion STX tokens. Ali will work alongside CTO Adriano Di Luzio and the wider team on expanding institutional engagement across Hong Kong, Korea, and the Middle East to bring more Bitcoin capital into Stacks applications.
