$STG is surging 26.5% to $0.20 not on random speculation, but because a formal bidding war has erupted over ownership of the entire Stargate protocol . The catalyst: LayerZero’s $110M acquisition offer is now being actively contested by cross-chain rival Wormhole. Wormhole has officially filed to pause LayerZero’s community vote, publicly arguing that the bid severely undervalues Stargate given its $92M treasury and $4B in monthly bridging volume . This isn’t just an offer—it is a direct challenge that transforms $STG from a yield token into a premium M&A asset with a confirmed floor and an escalating ceiling.
The market is pricing in a higher counterbid. Wormhole is preparing a “massive” competitive offer, and the mere threat of a bidding war between two infrastructure giants has forced holders to reject LayerZero’s 1 STG:0.086 ZRO conversion rate as insufficient . Volume has exploded to $78M, confirming conviction. This is now a strategic squeeze: whichever protocol wins absorbs Stargate’s deepest liquidity rails across 80+ chains. While the vote pause request plays out, STG is trading on acquisition premium. Watch Wormhole’s formal bid—if it clears $150M valuation, today’s high of $0.21 becomes immediate support .
STGUSDT
Perp
0.1702
-13.20%