SHX Price Soars 12% as Stronghold Shifts Focus to Payments and Green Technology

Following the Iranian strike, Bitcoin’s steady rise was overshadowed by SHX’s remarkable double-digit growth, reflecting an increased interest in tokens associated with practical applications and lower energy usage.

According to data from CoinMarketCap, the Stronghold (SHX) token surged by 12% on June 2, significantly outpacing major cryptocurrencies such as Bitcoin (BTC) and Ether (ETH), which saw modest gains of 3.86% and 5.5%, respectively.

At the time of publication, SHX climbed from a daily low of $0.01125 to a peak of $0.01280, maintaining a 40% increase over the month and establishing itself as one of the top performers in Q2 based on pricing data.

The price activity of SHX on Monday seemed to be less impacted by geopolitical tensions and more driven by growing investor confidence in Stronghold’s developing product roadmap, particularly with the upcoming enterprise-grade escrow feature.

What’s propelling SHX’s price increase?

Stronghold’s upcoming escrow service, confirmed by CTO Sean Bennett, is scheduled for launch in the coming weeks and represents the first major utility expansion for SHX since its inception in 2018. This service is designed to tackle challenges in global B2B payments, where traditional systems often require 2 to 5 business days for international settlements.

Although Stronghold has yet to release official performance metrics, data from the Stellar network—which SHX operates on—indicates an average transaction finality of 3 to 5 seconds, potentially reducing settlement times significantly compared to conventional systems.

Moreover, Stronghold’s public commitment to sustainability comes at a time when cryptocurrencies face increasing ESG scrutiny. By utilizing the Stellar network, Stronghold positions itself with platforms that focus on energy efficiency, which could attract environmentally conscious investors.

Each transaction requires only a tiny fraction of a watt, and SHX’s low-carbon framework may provide advantages in meeting future environmental standards, even though its direct effect on valuation remains unclear.

However, the SHX rally has experienced some fluctuations. After reaching approximately $0.01445 in mid-June, the token temporarily fell back to the $0.013 level, leading to short-term profit-taking and technical consolidation.

Market analysis indicates that this was more of a healthy pause than a change in sentiment, following several weeks of growth that saw SHX rise over 50% from early May. As the token currently lingers near local resistance, traders are keenly observing whether it will maintain its recent gains or transition into a consolidation phase.