Coinspeaker Starknet (STRK) Announces Launch of StarkGate v2.0 on Mainnet to Enable Seamless Multi-chain Bridging
Starknet STRK $0.68 24h volatility: 0.6% Market cap: $1.54 B Vol. 24h: $312.12 M , a fast-growing permissionless zero-knowledge (ZK) rollup layer two (L2) network on the Ethereum (ETH) ecosystem, has announced the launch of StarkGate v2.0 on the mainnet. The StarkGate is the dedicated multi-chain bridge based on the Starknet network to connect Ethereum users to DeFi protocols that leverage the STRK ecosystem.
The StarkGate bridge will enable decentralized application users to bridge assets in a fast and low-cost environment. Launched in May 2022 by StarkWare, the deposits through the StarkGate have grown to over $1 billion with an average of more than 200k monthly transactions.
What to Expect from the StarkGate V2.0 on Starknet
Among the features in the latest version of StarkGate, which is live on the mainnet, includes improved user experience
Furthermore, the StarkGate protocol was designed with the simplicity of Web3 users to enable mainstream adoption of the DeFi projects on the Ethereum ecosystem.
“The layout is intuitive, offering clear instructions and a user-friendly design that maximizes steps for a smooth bridging process,” the Starknet team noted.
With the launch of the latest version, StarkGate users will have access to more supported tokens, in a bid to open up more opportunities for Starknet’s Dapp users. The Starknet network has grown into a major gaming ecosystem due to its high throughput and low cost of transacting.
As a result, the launch of StarkGate v2.0 will play a crucial role in enabling Starknet to establish its DeFi dominance in the Ethereum ecosystem.
StarkGate v2.0 is officially live on Mainnet!
You can now enjoy a sleeker UX, support for more tokens, and additional features for all bridgoooors.
Come enjoy all Starknet's unique dApps in a fast & low-cost environment 🫵https://t.co/Titpn8WJjA https://t.co/oQHULhDG82
— Starknet 🐺🐱 (@Starknet) December 3, 2024
Market Impact
The Starknet Network has seen its total value-locked (TVL) assets grow to over $294 million, and a stablecoins market cap of more than $78 million. Some of the top-tier DeFi protocols on the Starknet network include Nostra, Ekubo DEX, zkLend Finance, and Vesu Lending, among others.
According to Starkscan, the Starknet Network has facilitated more than 138 million transactions to date and over 5.2 million smart contracts. As of this report, more than 82 million STRK tokens have been staked by 75 validators to secure the Starknet blockchain, out of the total 2.25 billion tokens in circulating supply.
The launch of the StarkGate v2.0 will have a significant impact on the STRK adoption amid the ongoing crypto adoption. The mid-cap altcoin, with a fully diluted valuation of about $7 billion and a daily average traded volume of about $266 million, has surged more than 46 percent in the past two weeks to trade about 69 cents on Tuesday, December 3, during the early New York session.
As a result, STRK price has confirmed a successful rebound from the multi-month consolidation. Furthermore, the weekly Relative Strength Index (RSI) has rallied above the 50 percent level for the first time, suggesting the bulls are gaining ground.
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Starknet (STRK) Announces Launch of StarkGate v2.0 on Mainnet to Enable Seamless Multi-chain Bridging
