Stella Price (ALPHA) Soaring Amid its Recent Protocol Update

Stella, the leveraged strategies protocol with 0% cost to borrow, rescheduled the launch date and extended the testnet’s end date. Amid this update from protocol, ALPHA, the native token of Stella, has surged more than 20% in the last 24-hours. However, the overall performance by the token further shows a bullish outlook.

Stella had shared a tweet on June 12, in which the protocol decided to “reschedule the launch date, extend testnet’s end date, and also introduce testnet feedback event.”

In the Twitter thread, the protocol noted, “to make sure we offer an even better experience from to the testnet, we have decided to reschedule the launch date on June 21st, Wed at 2PM UTC, to incorporate as much feedback as we can and further improve the UI/UX.” 

The testnet of the protocol will also be “extended and optimized for more users to play around. The testnet server will then be closed to give the team 24 hours in preparation for the official launch.” The testnet end date is scheduled on “June 20th Tues at 2PM UTC.”

Stella also introduced a testnet feedback event, as per its tweet, “a total of 3 users who participated in the Testnet + provide constructive feedback on Discord will be selected to win $50 each from now – June 20th 2PM UTC.”

Stella (ALPHA) Price Analysis

At press time, the price of ALPHA is trading at $0.117217 with a 24-hour trading volume of $33.00 Million. The token is up 21.15% in the last 24 hours, with a current market cap of $93.53 Million. Meanwhile, in the last 24-hours, the token’s low was $0.09583 and its high was $0.1189.

Stella Price (ALPHA) Soaring Amid its Recent Protocol Update
Source: ALPHA/USD by CoinMarketCap

As per CMC, ALPHA rose more than 20% in the last 24-hours and additionally, the last 7-days growth is nearly 13%. The all-time price of the token further shows an increase of almost 14%. In recent one month, nearly 91% of the whales held $910.9 Million of ALPHA tokens.

Furthermore, the overall crypto market cap is $1.06 Trillion, a 1.02% increase over the last day. Meanwhile, the total crypto market volume over the last 24 hours is $31.59 Billion, which makes a 6.81% increase. The total volume in decentralized finance is currently $2.21 Billion, 6.99% of the total crypto market 24-hour volume. 

The volume of all stable coins is now $30.61 Billion, which is 96.89% of the total crypto market 24-hour volume. The most traded cryptocurrency by market cap, Bitcoin (BTC) is showing currently a 47.61% dominance with a decrease of 0.12% over the day.

Disclaimer

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Source: https://www.thecoinrepublic.com/2023/06/13/stella-price-alpha-soaring-amid-its-recent-protocol-update/