Starknet’s STRK drops 55% amid criticism, Can it make a comeback?

Starknet’s STRK token lost more than half of its value since it started taking trade in the market. As suggested, this happened because people are upset about how the tokens were created in 2022. Reports say that the value of STRK went down by 55% in the past 24 hours with a trading volume of around $1.2 billion. People only sold $3 million worth of STRK futures, meaning most of the selling was from people selling their tokens directly. Right now, STRK is down by 20%.

STRK’s decline amid launch

About 728 million STRK were given out to around 1.3 million addresses based on certain rules, like being active on the blockchain and in the community. Many of the people who got the tokens probably sold them quickly.

The team behind Starknet announced on X that over 100,000 wallets have claimed more than 220 million STRK tokens as of Tuesday

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