LayerZero secures Stargate acquisition after competitive four-way bidding battle
LayerZero Acquires Stargate: LayerZero has successfully acquired the crypto protocol Stargate for $110 million after a competitive bidding process, with 95% of Stargate's community voting in favor of the deal.
Community Engagement: The acquisition vote saw record participation, with over 15,000 addresses involved and nearly 95% of votes supporting LayerZero’s proposal.
Rival Bids: Other platforms, including Wormhole, Axelar Network, and Across Protocol, attempted to bid for Stargate, but their offers were ultimately not accepted as the vote on LayerZero's bid could not be paused.
Revised Offer Details: LayerZero amended its initial proposal to provide Stargate stakers with half of all top-line revenue for six months, while also establishing a token swap ratio of 1 STG to 0.08634 ZRO.
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Technical Analysis for AXL
Technical Sentiment Analysis for Axelar (AXL). As of , Axelar (AXL) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for AXL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, AXL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Axelar (AXL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0277 | 0.0388 | 0.049 | 0.0601 | 0.0703 | 0.0814 | 0.0916 |
| Fibonacci | 0.0388 | 0.047 | 0.052 | 0.0601 | 0.0683 | 0.0733 | 0.0814 |
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