As Donald Trump’s administration gears up for an exciting task to make America great again, the altcoin market has gradually gained bullish momentum. Under the Trump administration, the cryptocurrency industry has been massively legalized, especially memecoins and DeFi tokens.
Furthermore, the previous administration of Joe Biden strongly recognized Bitcoin (BTC) and Ethereum (ETH) as commodities, while classifying the rest of the digital assets as securities. As a result, more and more investors, led by institutional investors, have prepared to fully subscribe to the cryptocurrency industry in the short term as a hedge against inflation.
Top DeFi Token to Consider Moving Forward
After persistent Bitcoin price close to $100,000 in the recent past, the Stargate Finance (STG) token has signaled the beginning of its macro bullish sentiment. The small-cap altcoin, with a fully diluted valuation of about $378 million and average 24-hour trading volume, rose more than 13 percent on Wednesday to trade around $0.378 during the mid-London session.
From a technical analysis perspective, STG price, in the daily time frame, has consistently closed above the 50 moving average (MA) in recent months, potentially signaling that the buyers are in control.
Since November 2024, STG price has been on an upward trend, characterized by higher highs and higher lows. If the STG token consistently closes above 55 cents in the long term, the next phase of the macro bull run will be confirmed.
Bullish factors in Stargate Finance
Stargate Finance has grown into a major omni-protocol, with a total value of over $436 million (TVL). The highly liquid STG token, with over 38,000 holders on-chain, has gained immense utility through the Stargate Farm program, rewarding liquidity providers.
The Stargate Finance protocol has gained significant utility as Ethereum’s layer two scaling solutions attract more mainstream users. Additionally, the Stargate Finance platform allows users to seamlessly and securely transfer assets between different chains for a small fee.
