Wormhole plans to outbid LayerZero’s $110 million offer to acquire Stargate, criticizing the low valuation. A bidding war may ensue, with Wormhole seeking more time for due diligence. Stargate’s community favors LayerZero’s updated offer, including a revenue-sharing plan. Tokens for Wormhole, Stargate, and LayerZero all see gains amid the news.

Wormhole aims to submit a higher bid for Stargate, emphasizing a market-dominant ecosystem. LayerZero’s revised proposal, with revenue-sharing for staked tokens, garners community support. The STG token swap ratio remains consistent. Wormhole, Stargate, and LayerZero tokens experience price increases alongside the broader crypto market.

Stargate’s potential acquisition by Wormhole sparks a bidding war. LayerZero sets a revenue-sharing period for staked STG tokens. Token prices for all three platforms rise alongside the wider crypto market.

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1. Bitcoin reaches new all-time high, surpassing $60,000 for the first time. The cryptocurrency has seen a 10% increase in value in the past week, with market capitalization exceeding $1 trillion.

2. Tesla announces that customers can now purchase its vehicles using Bitcoin. CEO Elon Musk revealed that the company will keep the Bitcoin payments as cryptocurrency rather than converting them to fiat currency.

3. Visa announces plans to allow payments to be settled using cryptocurrency on its network. The company will pilot a program with Crypto.com to enable users to settle transactions in USDC stablecoin.

4. Ethereum hits a new record high, breaking $2,100. The cryptocurrency has gained over 180% in value since the beginning of the year, with its market capitalization exceeding $240 billion.: Wormhole to Compete With LayerZero’s Stargate Bid