Why acquisition Is Trending Today?

LayerZero, represented by its token ZRO, has seen a significant price increase of 26% following the announcement of a planned $110 million acquisition of the Stargate token bridge. The bulls, however, are currently facing resistance at the $2.60 price level after a previous 11% daily drop. LayerZero's proposal involves a token deal to buy back the Stargate bridge and its associated tokens, with the $STG token set to be discontinued post-acquisition. Despite the offer, Stargate holders have defied the initial $138 million buyout proposal, potentially leading to further negotiations or changes in the acquisition plan.