Starknet (STRK) holders are showing strong resilience, refusing to give up despite the token’s tough performance. The upcoming mainnet upgrade offers a glimmer of hope, especially as network activity picks up again.
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The STRK price is currently positioned to potentially break out of a descending triangle, which could push it toward $0.62 if successful. Since its token launch in February, Starknet has faced challenges, leading to only 8% of holders being in profit. Despite this, many holders are choosing to stay invested rather than sell. This on-chain analysis provides further insights into the situation.
Starknet Sees Positive Momentum Ahead of Major Mainnet Upgrade
A few days ago, Starknet announced the successful launch of the Parallel Execution and Block Packing upgrade on its Testnet. This upgrade is designed to reduce gas fees and achieve a two-second block confirmation time, with the Mainnet launch set for August 28.

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Following the Testnet upgrade, data from IntoTheBlock shows a rise in the number of addresses holding STRK tokens over the last 30 days compared to the past year. While the exact reason for this increase is unclear, it suggests that holders remain optimistic about the token’s potential and are unwilling to sell, despite recent downturns.

Starknet Addresses by Time Held. Source: IntoTheBlock
This optimism is noteworthy, considering the controversies Starknet has faced. Early adopters were unhappy with the airdrop distribution in February, and the project saw a decline in user engagement, culminating in the recent resignation of the CEO. However, on-chain data reveals an uptick in network activity, with new addresses—those completing their first successful transaction—increasing by 30.25% over the past week. Active addresses, which measure the number of senders and receivers on the blockchain, also saw a significant rise. If this trend continues, it could signal a bullish outlook for Starknet and its native token, STRK.

Starknet New and Active Addresses. Source: IntoTheBlock
STRK Price Analysis: Potential for Bullish Reversal Amid Market Dynamics

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At the time of writing, Starknet’s token, STRK, is trading at $0.39, making it one of the biggest gainers in the top 100 cryptocurrencies over the last 24 hours. The daily chart shows that STRK formed a descending triangle pattern between June 5 and August 3. A descending triangle is typically a bearish chart pattern characterized by a series of Lower Highs (LH) and a flat support level. STRK initially broke down below this pattern, indicating that the downtrend might continue.
However, STRK now appears poised to break above the descending triangle pattern, signaling a potential shift in momentum. The Money Flow Index (MFI) reading of 16.20 suggests that STRK is in an oversold condition. The MFI, which measures buying and selling volume while also assessing whether a cryptocurrency is overbought or oversold, typically indicates an asset is oversold at readings of 20.00 or below. This oversold condition could lead to a bullish reversal if buying pressure increases, potentially pushing the token’s value towards the overhead resistance at $0.62 in the near term.

StarkNet Daily Analysis. Source: TradingView
Moreover, the anticipated completion of the Parallel Execution and Block Packing upgrade on Starknet’s Mainnet, along with sustained demand, could further drive the price towards $0.94. However, if confidence among holders wanes, selling pressure may increase, potentially causing the price to drop to $0.34.

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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Strk #StarkNet #Layer2 #Ethereum #TONonBinance $STRK $MANTA $BTC

Attention, Airdrop Farmers! If you’re already involved in Starknet farming (and we know you are 😉), this is a must-read.
Token deployment could be a crucial factor for upcoming airdrops, so let’s dive into the process.
So, What Exactly Are StarkGuardians?
StarkGuardians are unique digital heroines residing on StarkNet, a project that raised an astonishing $282.5 million. Their primary mission is to safeguard investors’ interests in the world of NFT projects and lead the way in enhancing security.
Here’s How You Can Get Started:
Head over to the website and click “Log in” to connect your wallet: https://alpha.starkguardians.com/deployChoose from three contract options: ERC721, ERC20, or Basic (only 0.0005 $ETH plus Starknet fees).

3. Now, customize your contract by entering the name, symbol, and supply.
4. Hit “Deploy” and confirm the transaction in your wallet.
If you wish, explore further interactions with your contract, click on interact.

Unlock More Opportunities with Starknet:
Beyond contract deployment, there’s a world of exciting possibilities with Starknet:
Starknet Early Community Member Program Application: Be at the forefront of innovation. Apply hereStarknetQuest with Rewards: Embark on quests and earn valuable rewards.StarknetQuest to Increase Transactions: Take on quests that boost your transaction count. Start your journeyBraavos Ambassador Program: Join a community dedicated to Starknet’s success. Learn more
With StarkGuardians and the Starknet ecosystem, you’re not just farming; you’re cultivating a world of possibilities. Get involved today!
#BTC #BullRun #BRC20 #Web3Wallet #StarkNet

The Starknet Foundation is set to embark on a groundbreaking initiative, the Starknet Provisions Program, allocating a substantial 700 million STRK out of a total supply of 1.8 billion to its dynamic community. This program, slated to kick off on February 20, 2024, is a testament to Starknet's commitment to decentralization, transparency, and inclusivity in the blockchain space.
Starknet at a Glance:
Starknet, a permissionless L2 Validity Rollup for Ethereum, utilizes STARKs to enhance scalability while maintaining Ethereum's security and principles. Its unique features enable diverse dApp development through the use of the Cairo language.
Provisions Program Highlights:
The Provisions Program is designed to distribute STRK tokens to those who contribute significantly to Starknet, STARK-tech, Ethereum, and select non-crypto open-source projects. The allocation principles include prioritizing contributions, broad distribution, transparency, expanding adoption, and providing differentiated allocations based on the nature of contributions.
Eligible Groups for Claiming STRK:
The Provisions Program encompasses a diverse range of contributors, including:

Starknet Stack and Ecosystem Contributors: Recognizing those who have developed, engaged with, and battle-tested the Starknet network and stack.Early Starknet Users: Offering rewards to users who have been integral to the network's development, meeting specific criteria to ensure active and genuine participation.Starknet Developers: Acknowledging developers based on their significant impact on GitHub repositories, with provisions allocated through Devonomics.StarkEx Users: Recognizing users who have contributed to testing and strengthening the Starknet stack, including the STARK proof system and Cairo.Ethereum Protocol Guild: Allocating provisions to this guild of Ethereum contributors dedicated to protocol development and security.Ethereum Ecosystem Contributors: Recognizing significant contributors to the Ethereum ecosystem, including authors of Ethereum Improvement Proposals (EIPs) and co-authors.Ethereum Stakers: Allocated provisions based on the role they played in securing the Ethereum network during its transition to proof-of-stake.

Claiming Your STRK:
Starting from February 20th, 2024, users can claim their STRK through the official Provisions portal at [provisions.starknet.io](https://provisions.starknet.io). It's crucial to have a Starknet wallet, and all claiming fees are covered by the Foundation. However, users should remain cautious of scams and verify the correct URL.
Looking Ahead:
The Starknet Foundation has ambitious plans, with future rounds and programs set to involve rebates and initiatives for specific committees, including those focused on DeFi and gaming. The distribution of 700 million STRK in the first round marks a significant step toward fostering innovation and decentralization in the blockchain space.
As the Provisions Program unfolds, it underlines Starknet's dedication to building a community-driven ecosystem that values its contributors, promotes transparency, and strives for mass adoption of Ethereum and decentralized protocols. Stay tuned for more updates on the Provisions Program and the exciting developments within the Starknet community.

#StarkNet #strk #Airdrop #eth #Ethereum