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- Santiment tweeted that Stargate’s network growth on ARB reached an ATH yesterday.
- STG’s price has been in a decline since reaching a peak on 18 February.
- In related news, the prices of ARB and STG both printed 24-hour losses.
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.
#Stargate's network growth on #Arbitrum managed to hit an #AllTimeHigh yesterday despite its -51% price retrace since its Feb 18th top. Our latest insight discusses the Stargate DAO active voting as a likely contributor, and its high risk/reward nature. https://t.co/tcCFElDy2m pic.twitter.com/kpV6JKhRPv— Santiment (@santimentfeed) March 28, 2023
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.
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