STG Network Growth Hits ATH Despite Its Price Dwindling

Santiment (@santimentfeed), tweeted this morning that Stargate’s network growth on Arbitrum managed to hit an all-time high (ATH) yesterday despite its price retracing 51% since its peak, which was reached on 18 February.

Stargate’s network growth on Arbitrum (Source: Santiment)

According to the tweet, Stargate (STG) saw 4,683 new addresses created yesterday. Santiment also stated that the increase in new active addresses on the Stargate Network could be linked to active voting.

At press time, the price of STG has fallen 1.87% in the last 24 hours according to CoinMarketCap. As a result, STG’s price currently stands at $0.6355. In addition to weakening against the dollar, STG also weakened against the leading altcoin, Ethereum (ETH), by 0.49% over the last 24 hours. STG was, however, able to strengthen against the crypto market leader, Bitcoin (BTC), by 0.90% during the latest 24-hour cycle.

The daily trading volume for STG is estimated to be $16,493,243 at press time following a 46.65% increase. Lastly, STG’s market cap is estimated to be $102,001,905 – ranking it number 255 in terms of market cap size.

Meanwhile, Arbitrum (ARB) also saw its price decline in the last 24 hours. CoinMarketCap shows that ARB’s price is down 8.61% and is trading at $1.15 as a result. ARB was unable to outperform BTC and ETH, weakening 6.17% and 7.45% against the 2 crypto market leaders respectively.

The daily trading volume for ARB dropped 10.33% in the last 24 hours. As a result, the total trading volume for the altcoin is around $977,002,511 at press time.

Disclaimer: The views and opinions, as well as all the information shared in this price Analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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