Starknet approaching $5?
Popular
STRONG
$2.2
+20.36%
After its launch, one of the most anticipated coins of the year on the starknet quickly collapsed. There is a lot of negative sentiment circulating around Starknet and the coin itself. But there are some positives for Starknet. New projects are being built
🔆 Why do people hate Starknet so much?
🔹 Unfair distribution of Airdrops: Many people are unhappy with the distribution of Airdrops. People are complaining about it on social media and it's creating a lot of negativity around it.
🔸Previous Unpleasant Relationship with an Airdrop Hunter: One of the Starknet Key members was called the "Airdrop Hunters" E-Beggoors. This was very disrespectful to the beta testers and project participants.
🔹High FDV: With a total token supply of 10B, Starknet will have a higher full dilution valuation than established projects like Arbitrium and Matic.
🔸1.3 billion tokens are unlocked for early investors and team only 2 months after launch. And this decision mainly raises a lot of questions among retail investors.
These things caused Starknet prices to drop even more. The coin dropped by about $1.6
✴️ Upcoming Starknet development
🔸Ethereum Dencun update + New coin + Low float + zk-Rollup pioneer.
More about the Ethereum Dencun update
🔹No unlocking until April and relatively low market capitalization compared to competitors.
🔸Starknet ecosystem project will be launched soon.
Read about the Starknet ecosystem
🦠 Starknet Unblocking Schedule
StarkNet Token (STRK) Unlocking and Vesting Schedule:
🔹Initial distribution:
StarkNet's total supply consists of 10 billion STRK tokens. The initial distribution is divided into various categories:
Early entrants: 20.1%
Investors: 18.2%
Grant: 12.9%
StarkWare: 10.8%
Strategic reserves of the Fund: 10%
Community discounts: 9%
Treasury Fund: 8.1%
Community Positions: 7.2%
Donations: 2%
🔸Unlock schedule:
Initially, it was planned to unlock 13.4% (1.34 billion tokens). However, this has been revised.
The new schedule will unlock 0.64% (64 million tokens) on April 15, 2024.
🔹Next unlock event:
The upcoming unlock event is scheduled for April 14, 2024, where 63.99 million STRK tokens (0.64% of the total supply) will be unlocked1.
This adjustment was made in response to community feedback and aims to ensure a gradual and controlled release of tokens.
⚡ Chart analysis
We can see Starknet breaking out of the hoarding box (even though the time frame is only 2 weeks) at 1HTF.
