Stargate Price Soars as Wormhole Submits Acquisition Bid

The price of Stargate (STG) surged by over 10% after the Wormhole Foundation announced its intention to acquire the cross-chain protocol. This comes amidst LayerZero’s $110 million bid for Stargate, which the Wormhole Foundation believes undervalues the protocol. The foundation claims a competitive bidding process will lead to a more favorable deal that reflects Stargate’s value and growth potential.