Following its launch, Starknet, one of the most eagerly awaited cryptocurrencies of the year, experienced a rapid decline in value. Negative sentiments surrounded both Starknet and its coin, yet there are some positive developments on the horizon, such as new projects emerging. The widespread discontent with Starknet primarily stems from the perceived unfair distribution of its airdrop, leading to numerous complaints on social media and a prevailing negative sentiment. Additionally, a strained relationship with airdrop hunters, characterized by disrespectful remarks from a key Starknet member, contributed to the negative atmosphere. The high Full Diluted Valuation (FDV) of Starknet, surpassing prominent projects like Arbitrium and Matic, and the early unlock of 1.3 billion tokens for investors and the team just two months post-launch have raised concerns among retail investors. Consequently, these factors collectively led to a substantial dip in the price of Starknet, which dropped by approximately $1.6.
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