Did Donald Trump Fuel Stargate Finance (STG) Token’s Rally? Here’s How
The altcoin market is gradually gaining bullish momentum as the Donald Trump administration tackles an exciting task before making America great again. Under the Trump administration, the cryptocurrency industry has seen massive legalization, especially memecoins and DeFi tokens.
Furthermore, the former Joe Biden administration highly recognized Bitcoin (BTC) and Ethereum (ETH) as commodities, while the rest of the digital assets were classified as securities. Therefore, more investors, led by institutional investors, have been preparing to fully endorse the cryptocurrency industry in the short term as a hedge against inflation.
Top DeFi Tokens to Consider for the Future
Following the recent sustained close above $100,000 in Bitcoin prices, the Stargate Finance (STG) token has signaled the beginning of its macro bullish sentiment. The small-cap altcoin has a fully diluted valuation of approximately $378 million, with 24-hour average trading volume surging more than 13% in the middle of Wednesday’s London session to trade around $0.378.
From a technical analysis perspective, STG price has been closing above the 50 moving average (MA) on the daily time frame over the past few months, which could indicate that buyers are in control.
Since November 2024, STG prices have formed an upward trend, which is characterized by higher highs and higher lows. Longer term, if the STG token sustains a close above 55 cents, the next phase of the macro bull market will be confirmed.
Bullish factors for Stargate Finance
Stargate Finance has grown into a major full-service protocol with over $436 million in total value locked (TVL). With over 38,000 on-chain holders, the highly liquid STG token has gained significant utility through the Stargate Farm program, for which liquidity providers are rewarded.
The Stargate Finance protocol has gained significant utility as Ethereum’s second-layer scaling solution attracts more mainstream users. Additionally, the Stargate Finance platform enables users to securely and seamlessly transfer assets between different chains for a small fee.
