This week has been turbulent for altcoins, marked by significant fluctuations amid broader economic uncertainties. The volatility stems from recent macroeconomic data, particularly a disappointing jobs report from the Bureau of Labor Statistics. Specifically, August’s employment figures fell short of expectations. Consequently, this weaker job growth has heightened concerns about the Federal Reserve’s future interest rate decisions. Thus, speculation is increasing that the Fed may be more cautious with rate cuts, which affects overall market risk appetite.
Starknet (STRK)
In today’s list of top crypto gainers, Starknet, known for its decentralized Validity-Rollup technology, has been making waves. Albeit as the second among the heavy hitters, the token saw a 9.84% surge in the last 24 hours, bringing its price to $0.4273. This uptick may be partly attributed to the latest announcement—STRK staking is officially coming to Starknet. As excitement builds around the Q4 release of this staking feature, it’s easy to see why traders have been quick to react.
With the rollout planned for both testnet and mainnet, Starknet will be the first Layer 2 to introduce this mechanism. What makes this even more compelling is that neither StarkWare nor the Starknet Foundation will participate in staking, making the process more decentralized right from the start. As these developments bring new use cases and business logic, the utility of STRK is set to grow, which may drive further positive price action.
Moreover, Starknet’s liquidity is solid, with a high volume-to-market cap ratio of 0.5397. This means the token is well-supported in terms of trading activity. The token’s volatility remains low at just 5% over the past 30 days, making it less risky than other assets.
Interestingly, STRK had 15 green days in the last 30 trading days, indicating a 50% success rate. Though not the most aggressive performer today, Starknet’s combination of technological advancements and steady price action could make it a strong contender for future growth.
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