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Amidst a sea of red in the crypto market, one star shines brightly: Starknet’s STRK token. Defying the downturn, STRK is soaring as the clock ticks down to the much-anticipated, and potentially market-moving, unlock for investors and team members in just under three weeks. Will this bullish momentum last, or is this a final hurrah before the unlock deluge?
STRK’s post-launch trajectory has been less “to the moon” and more “cratered.” Since blasting off in February 2024 at around $2, the token has plummeted, shedding over 96% of its value. Now trading at a mere $0.17, with a market cap of $770 million, STRK’s initial promise feels like a distant memory.
STRK: Dormant Giant Awakens? After a year of sideways movement, this token is exploding. Up a staggering 40% in the last month, with a jaw-dropping 26% surge today alone! But a storm is brewing: 127 MILLION STRK are about to unlock. Will this unleash a tidal wave of selling, or fuel the fire even higher? Buckle up; it’s going to be a wild ride.
STRK Chart – CoinGecko
Since April, a monthly influx of 127 million STRK tokens, valued at $21.5 million, has hit the market. Despite this constant supply increase, STRK is surprisingly up 16% since April 1st. Zooming out, however, reveals a market-wide slump during that period, with even Bitcoin struggling at $85,000, putting STRK’s rise into sharper, if less impressive, perspective.
Starknet’s staking game is on fire! Even as STRK floods the market, the network just blasted past 900 million staked tokens – a cool $150 million locked and loaded. That’s a fifth of all STRK vanishing from circulation, proving unwavering faith in the chain’s future.
Starknet (STRK) is surging, riding a wave alongside privacy-focused cryptocurrencies like Zcash (ZEC) and Monero (XMR), which are leaving the broader market in the dust. Is there a connection? Perhaps. Starknet’s co-founder, Eli Ben-Sasson, played a pivotal role in launching Zcash. Could this shared lineage in privacy tech be fueling STRK’s recent bullish momentum?
Starknet defies gravity. Token price shrugs off unlock pressures, while Q4 metrics surge skyward. L2Beat ranks Starknet sixth by value locked, a figure supercharged by a 200% TVL liftoff since July’s low point.
Starknet’s ascent is fueled by one powerhouse: Extended, the perpetual futures DEX. Commanding over 40% of Starknet’s total value locked (TVL), Extended’s October surge was nothing short of explosive. Vaulting from $55 million to a staggering $96 million, its TVL nearly doubled – a meteoric rise potentially ignited by the perp DEX airdrop farming frenzy that began in September.
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