Half its value on the first day of trading, with data showing a 55% drop in the past 24 hours and more than $1.2 billion in trading volumes. Only $3 million worth of STRK futures contracts were liquidated, suggesting that most of the selling pressure was driven by the spot price. About 728 million STRKs were distributed to approximately 1.3 million addresses based on pre-defined criteria, such as participation in the blockchain and in its community. Sell ​​pressure indicates that recipients are likely to sell tokens as quickly as possible.

Starknet is an Ethereum accretion platform that allows applications to scale using zero-knowledge proof technology to prove the veracity of a set of data without exposing the data itself. More than 100,000 wallets had claimed more than 220 million STRK as of Tuesday. Many tokens see a drop in value in the hours after their release, such as Arbitrum's ARB and Curve's CRV. However, JUP stock, which was recently launched from the Solana-based Jupiter exchange, rose 50% in the first 24 hours after it became available.

A significant portion, 50.1%, of STRK's supply is allocated to the Starknet Foundation for community airdrops, grants, and donations. 24.68% of STRK's total supply will be distributed to early shareholders and investors, while 32% has been allocated to StarkWare developer employees, consultants, and developer partners.