StarkNet, which was extremely popular in 2024, was recently added to many top cryptocurrency exchanges.
➬ However, after being listed, the value of the #STRK token dropped by 77% from its highest price on Binance.
What is StarkNet?
➬ #StarkNet is a type of decentralized Layer 2 (L2) validity rollup that doesn't need permission to operate. It uses cryptographic protocols called STARKs to help Ethereum grow without giving up its key values like being decentralized, transparent, inclusive, and secure.
Why did the value drop?
➬ Some say that the price fell because a company working on Ethereum called Nethermind and people who received free tokens (airdrop farmers) sold large amounts of the token.
Network Activity
➬ Within a week, the number of users dropped by 90%.
➬ From 226,000 users, it went down to 25,000 users by February 20, 2024.
➬ Average Fees: 0.55
➬ TPS (Transactions Per Second): 14.66, Highest TPS: 43
Token Statistics
➬ When StarkNet was first listed on #Binance, its estimated value was $77 billion at the most, but now it's around $18.5 billion.
➬ Market Cap: $1,346,790,833
➬ 7.28% of all tokens are currently in circulation.
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📢 Disclaimer: This content is not a paid advertisement and is not intended to persuade or encourage investment. Please conduct thorough research and make informed decisions based on your own analysis before considering any investment opportunities.
