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The Stella price has slumped 13% in the past 24 hours to trade at $0.08619 as of 5 a.m. EST on trading volume that skyrocketed 118% to $228.28 million.
However, while the token has seen a decline on a 24-hour basis, its weekly chart shows a massive 47% price increase. Much of it is due to a price surge that took place at the start of the week. The token’s price was at $0.06472 in the early Monday morning, but by Tuesday afternoon it skyrocketed to $0.1313 before correcting to its current value.
The surge started after the project posted an announcement about “Some Juicy yields for the arbitrum Arbinauts on Uniswap v3 pools,” making a point that Stella is the only place in DeFi to leverage LP on Uniswap v3.
Some Juicy yields for the @arbitrum Arbinauts on @Uniswap v3 pools.
▪ upto 71% yields on ARB/USDC.e (0.3%) pool
▪ upto 78% yields on ARB/USDC.e (0.05%) poolStella is the ONLY place in DeFi to leverage LP on Uniswap v3 🤫 pic.twitter.com/cCc8KDrDlH
— Stella💫️️ | 0% Cost Leveraged Strategies Protocol (@stellaxyz_) October 21, 2024
Even more importantly, major crypto exchange BitMart announced only hours ago that it will list Stella, presenting it to the community as the leveraged strategies protocol with 0% cost to borrow. The extra exposure might even allow the project to recover from its slump in the last 24 hours.
#BitMart will list Stella(ALPHA)@stellaxyz_🔥
Stella is the leveraged strategies protocol with 0% cost to borrow. Stella’s mission is to redefine how leveraged DeFi works. DeFi needs a good leverage system in order to drive more usages on DEXes and money markets, the… pic.twitter.com/cq35j9FMlI
— BitMart (@BitMartExchange) October 23, 2024
Stella Price Prediction
Stella’s price drop likely came as a result of a market-wide bearish wave that has sent even the largest cryptocurrencies’ prices down. At the time of writing, even Bitcoin is down below $66.5k after previously reaching $69.2k early Monday morning.
As for Stella’s native cryptocurrency, ALPHA, there are a few reasons that suggest that the token might recover in the short term. First, as mentioned, is its listing on BitMart, which is a strong fundamental factor.
When it comes to the project’s technical indicators, however, the signals are mixed at the moment. Stella’s Bollinger bands have seen a major narrowing, with only a small distance between the two bands now, which makes it easy for the price to bounce between the two lines. It going up and down between them is a good thing, although the bands’ close proximity to one another is a bearish signal.
A more promising sign comes from the token’s Relative Strength Index (RSI) value. In the past 24 hours, the RSI went from the value of over 80, deep in the overbought zone, to the value of 30, which is the very edge of the oversold area.
It was at that time that the token found a support at $0.085, stopping its descent just above this level. Now, the RSI is starting to grow again as the traders have moved in to buy the dip, and the bullish pressure is slowly building up. This might pull the token’s price upwards in the hours to come.
With that said Stella would have to start trading against the market in order to grow, as Bitcoin is seeing a sharp drop right now, and its overwhelming dominance is likely to pull the altcoin market further down.
That means that the bulls may lose their optimism very quickly, which could result in another sell-off, and possibly even cause ALPHA to break the support at $0.085.
Promising Alternative To Stella
With the Stella price slumping, traders might want to check out Crypto All-Stars, an innovative new project that aims to revolutionize staking for meme coins.
Crypto YouTuber ClayBro, who has over 130k subscribers, says it’s an easy way to accumulate other meme coins like Shiba Inu, and has said the token could be the next 100x crypto.
Crypto All-Stars is the first platform that enables traders to stake all their meme coins in one place via the transformative MemeVault protocol. This is a brand new type of staking smart contract that allows users to stake more than one cryptocurrency.
Being the first of its kind, it also stood out by offering support for 11 major meme coins, including Dogecoin, Shiba Inu, Pepe, Floki, Brett, and Turbo.
The project said that it would add support for even more meme coins down the line, but its unique prospects have already been more than enough to enable its ICO to raise over $2.6 million.
STARS tokens sell for $0.0015188 each right now and can be bought with ETH, USDT, BNB, SHIB, DOGE, PEPE, FLOKI, or credit/debit cards.
Just don’t wait too long to make your move as the project is scheduled to see its next price increase in less than 2 days.
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