LayerZero's $120M Stargate acquisition progresses with 94% approval from DAO
Acquisition Announcement: LayerZero has acquired multichain bridge Stargate Finance for $120 million in ZRO tokens, with 94% approval from the Stargate Finance DAO.
Merger Details: The acquisition will merge both projects under one umbrella, with ZRO becoming the official token, and will dissolve Stargate DAO, swapping STG tokens for ZRO at a specified ratio.
Market Impact: This deal strengthens LayerZero's dominance in the cross-chain ecosystem, where it already holds about 85% market share, and aims to enhance interoperability services.
Token Performance: Despite the positive news surrounding the acquisition, both ZRO and STG tokens have seen declines in value recently, reflecting broader trends in the crypto market.
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Technical Analysis for ACX
Technical Sentiment Analysis for Across Protocol (ACX) As of , Across Protocol (ACX) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for ACX 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 stock.
Support, Resistance & Moving Averages From a structural perspective, ACX 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 $-.
Across Protocol (ACX) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0208 | 0.0264 | 0.0327 | 0.0383 | 0.0446 | 0.0502 | 0.0565 |
| Fibonacci | 0.0264 | 0.0309 | 0.0337 | 0.0383 | 0.0428 | 0.0456 | 0.0502 |
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