Stargate prices are rising with acquisition offers star-news.press/wp

Price Stargate rose sharply as Wormhole Nmbouts announced to enter a bidding war for the crossed chain protocol.

The price of Stargate (STG) jumped more than 10 % to climb from its lowest levels of $ 0.1633 and reached $ 0.182 by exchanging encryption on August 20.

STG, the original of the crossed series protocol, had decreased in the wake of the broader encryption that witnessed the failure of the ALTCOINS to support levels on Tuesday, August 19.

However, where Bitcoin (BTC) was offered for a bounce above 114 thousand dollars and the eTHEREUM (ETH) recovered at the level of $ 4,300, the price of Stargate rose. STG double numbers nevertheless coincides with another development – key advertisement From the worm institution.

Al Dwud Foundation wants to get Stargate

Stargate attracts the attention of the Wormhole Foundation Foundation, the entity that supports the ecosystem of tumor (W).

Specifically, he believes that he can offer a better deal if he acquires Stargate instead of Layerzero (zro).

On August 11, Layerzero set an attempt to get Stargate, and on August 17, Stargate Declare The suggested acquisition shot was alive.

Terms No. 110 million dollars include all the STG scattered for ZRO, the revenue sharing form, and the transfer of Stargate to Layerzero Foundation.

Now, Wormhole says that Stargate should stop the snapshot and allow the process of providing competitive bids that will make a deal that reflects the value of Stargate and growth potential.

The Layerzero bid of $ 110 million in ZRO for about $ 76.47 million in Stablecoins and $ 15.9 million in ETH, and “Permanent Picking for all Future Protocol revenues”, is low for Stargate, Wormhole Foundation.

“The treasury alone is about 92 million dollars, with the exception of the distinctive STG symbols, however the proposed deal handed over the continuous economic assets and box for only 110 million dollars in mind. It does not create a convincing offer, which estimates the continuous stadium of the unreasonable number.”

Stargit protocol growth

In a temporary stop request to the shot, the platform said that its request is that Stg holders deserve a better deal.

“The current offer reduces the values of assets, brand, code brand and team. We are ready to make a higher exhibition, and we believe that a competitive process will lead more value to all concerned.”

The Stargate snapshot was scheduled to end on August 24 at 00:15 am GMT.

The STG code has been traded to the highest level of $ 4.28 in April 2022, but has struggled to strike these highlands since then. However, the Stargate protocol has witnessed a remarkable growth, as the size of the bridge increased since July 2024 and the total closed value of the protocol, which reaches $ 345 million.

Stargit went to more than 80 chains.