{"id":161984,"date":"2024-02-21T11:26:57","date_gmt":"2024-02-21T11:26:57","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=161984"},"modified":"2024-02-21T11:27:01","modified_gmt":"2024-02-21T11:27:01","slug":"after-criticism-starknet-announces-distribution-of-over-200m-tokens-but-strk-continues-in-freefall","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/after-criticism-starknet-announces-distribution-of-over-200m-tokens-but-strk-continues-in-freefall\/","title":{"rendered":"After Criticism, Starknet Announces Distribution of Over 200M Tokens, But STRK Continues in Freefall"},"content":{"rendered":"
TL;DR\u00a0<\/span><\/p>\n Starknet,<\/strong> the Layer 2 scaling solution focused on improving the performance of decentralized applications on Ethereum<\/a>, has recently faced criticism and a significant drop in the value of its native token, STRK. <\/strong><\/span>On February 20, Starknet distributed over 728 million STRK tokens to around 1.3 million wallets.\u00a0<\/span><\/p>\n The distribution of tokens was carried out based on specific criteria<\/strong>, including involvement in the blockchain and its community. However, despite the extensive airdrop, the value of STRK has experienced a significant decline, with a 53% decrease since launch. Currently, the STRK token is trading<\/a> at $1.91.<\/strong><\/span><\/p>\n The intense selling pressure indicates that the recipients likely sold their tokens immediately. As of Tuesday, more than 100,000 wallets have claimed over 220 million STRK. This swift sell-off has resulted in trading volumes exceeding $1.2 billion.<\/span><\/p>\n Over 220 million STRK claimed!<\/p>\n Source: @_token_flow<\/a> pic.twitter.com\/IoDOZQFJ8W<\/a><\/p>\n — Starknet \ud83e\udd87\ud83d\udd0a (@Starknet) February 20, 2024<\/a><\/p><\/blockquote>\n\n
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