Can Stargate Finance (STG) Keep Up Its Winning Streak?

With a bullish market today (up 2.70% overall), there are bound to be some big winners. One of the most notable gainers today is Stargate Finance (STG), which has been up for several days and is up again today by 15.57%. Will it keep on its bearish trend, though?

Tracking Stargate Finance’s Impressive Progress

Last week, the STG rate was holding flat at $0.3334 (STG/USD). We saw no real change in this crypto token up until Friday, when it jumped to $0.5416 very quickly and then continued to rise to reach a high of $0.9815 before the end of the day.

The crypto has held onto those gains fairly well, especially considering how high it jumped so quickly. The STG rate is currently at $0.7509, which is the highest it has been since May 10^th of this year. This is an incredible achievement for Stargate Finance, and for it to come out of a long lull where it mostly trended steadily bearish is excellent news for investors.

Can the Bullish Trend Be Sustained?

Looking at the major cryptos right now, it’s obvious that Stargate Finance is not being heavily influenced by them. Its current path is very dissimilar from that of the cryptos that usually lead the market, so the STG rate is moving of its own volition. That means that even if the market takes a downturn, there is no guarantee that STG will suffer at the same time.

The current trade volume for this crypto is $105.6 million over the last 24 hours, which is a dip of about 6.5% for that period. However, the market cap has jumped 14.22% in the same space of time, nearly achieving $100 million. If the market cap does push over that mark, that can draw some mainstream attention to his crypto which is currently ranked #255 on the crypto market overall.

It’s safe to say that STG’s star is on the rise after a long period of mostly quiet activity. We suspect the rate could increase further over the coming days, and there is strong evidence to suggest that the rate will at least be maintained around the $0.70 mark.