BID (CreatorBid) rose 38.26% in the last 24 hours

Gate News Bot news, August 25, according to CoinMarketCap, as of the time of writing, BID (CreatorBid) is currently reported at $0.12, with a rise of 38.26% in the last 24 hours, peaking at $0.13 and dropping to a low of $0.07. The current market capitalization is approximately $31.3 million, an increase of nearly $8.67 million compared to yesterday.

Important recent news about BID:

1️⃣ Wormhole Foundation plans to make a higher offer for StarGate The Wormhole Foundation announced its intention to make a higher bid than the current $110 million ZRO token offer from LayerZero for StarGate (STG). The Wormhole Foundation believes that StarGate’s current valuation does not reflect its actual value and points out that the protocol holds a substantial amount of assets, including $76 million in stablecoins and $16 million in ETH.

2️⃣ StarGate protocol performs excellently The StarGate protocol has demonstrated significant business growth. In July, its bridging transaction volume reached $4 billion, a tenfold year-on-year increase. Currently, the total locked value of StarGate (TVL) is $345 million, with an expected annual revenue of $2 million. These figures highlight StarGate’s important position in the cross-chain space.

3️⃣ Potential Mergers or Reshaping of the Industry Landscape The Wormhole Foundation requests a 5-day suspension of the Snapshot voting process to complete its competitive proposal. This potential high-priced acquisition could trigger industry restructuring, profoundly impacting the valuation of cross-chain protocols and related tokens.

From a technical perspective, the significant rise in BID prices may be related to the increased attention on the entire cross-chain ecosystem. However, investors should be aware that merger events may lead to drastic fluctuations in the market in the short term.

This message is not intended as investment advice; investors should be aware of market volatility risks.