STRK token saw a $3 million airdrop consolidated into a single wallet.
STRK dipped to $3.50, experiencing a 13.69% decrease.
Starknet’s token boasts a $1.58 billion 24-hour trading volume.
Lookonchain shared, in an X post, that an anonymous wallet received an airdrop worth $3 million via 1,361 wallets. Specifically, the airdrop featured 1.432 million STRK, the native token for the Ethereum layer-2 scaling solution Starknet.
It seems that someone received an #airdrop of 1,432,800 $STRK ($3M) via 1,361 wallets!The 1,361 wallets transferred $STRK to wallet"0x027c…9078" after claiming the #airdrop.https://t.co/xTUBOqB5Pr pic.twitter.com/XVGtAaUxjr
— Lookonchain (@lookonchain) February 21, 2024
According to reports, Starknet commenced distributing 700 million tokens to approximately 1.3 million addresses as it marked the airdrop’s official launch. The token distribution plan allocates 50.1% to the Starknet Foundation for community programs, 24.68% to early contributors, and 32% to StarkWare employees and partners.
STRK, touted as the “largest airdrop of the year,” began trading at $5 on crypto exchange KuCoin but has since dipped to $3.50, showcasing early price swings. With an initial total supply of 10 billion tokens, reports claimed that the fully diluted value reached $35 billion, while the current market cap stands at $2.32 billion.
As of February 21, STRK has experienced a significant 13.69% decrease in trading in the past 24 hours, with the current price standing at $2.03. Despite this dip in value, STRK maintained a 24-hour trading volume of $1.58 billion.
CoinMarketCap’s data showed that STRK has a market cap of $1.48 billion and 728 million STRK tokens in circulation. Moreover, tokens in circulation represented 7.28% of the total supply, which is capped at 10 billion tokens.
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