Stargate Finance’s native token, STG, surged 77% within two hours of being listed on South Korea’s top crypto exchange, Upbit. This rapid increase coincided with the token trading at $0.6873, up 42% over the past 24 hours, according to CoinMarketCap.
Despite the surge, STG is still 83% below its all-time high of $4.13, achieved on April 2, 2022. Spot On Chain attributed this latest boost to the introduction of the STG/KRW trading pair on Upbit, which significantly spiked investor interest and trading volume. An investor linked to Wallet 0x22d moved 10.25 million STG tokens to Binance, initially valued at $8.12 million.
Another key driver was the launch of Stargate V2 on May 29, promoted as “DeFi’s cheapest bridge.” This update allows users to deposit liquidity into V2 pools while maintaining V1 operations across twelve chains. Stargate Finance simplifies cross-chain DeFi transactions, supporting transfers between eight major blockchains.
The strategic listing on Upbit and the V2 launch mark significant milestones, potentially positioning Stargate Finance for long-term growth in the DeFi space.
