Surge in Starknet’s STRK Sees Token Price at 7 Dollars on Binance with Massive Airdrop Participation

Crypto News- On February 20, Ethereum’s layer-2 scaling solution, Starknet, initiated the distribution of its native token, kicking off with the launch of the provisions portal. In a matter of 90 minutes, millions of tokens were claimed by eligible users, totaling over 45 million STRK tokens. Simultaneously, the token began trading on various major exchanges.

Following its listing on Binance, STRK surged past $7 and exceeded $5 on KuCoin as it integrated into the broader cryptocurrency landscape. Market data from CoinMarketCap showcased STRK trading in the range of $3 to $4, with a market capitalization surpassing $2.1 billion.

Surge in Starknet’s STRK Sees Token Price at 7 Dollars on Binance with Massive Airdrop Participation

Over 1.3 million wallets qualified to claim Starknet’s native token, including those of Ethereum solo and liquid stakers, Starknet developers and users, as well as external projects and developers from beyond the Web3 ecosystem. The Starknet Foundation released an outline of its token provision alongside a dedicated portal for users to verify their eligibility and receive STRK tokens. A total of over 700 million STRK tokens are slated for distribution across nine categories, earmarked for governance and transaction fees, with plans for staking to be introduced in the future.

Starknet stands as one of Ethereum’s prominent layer-2 solutions, spearheading zero-knowledge (ZK) rollup technology. This protocol enables off-chain processing of transactions and smart contract functions, with cryptographic proofs submitted to Ethereum to leverage the security assurances of its underlying blockchain.

Recent weeks have seen an uptick in Starknet’s active users, driven by individuals aiming to qualify for the STRK airdrop. Responding to community feedback, the Starknet Foundation acknowledged concerns over eligibility criteria for the airdrop and pledged to address the situation for users who felt overlooked.

Moreover, the broader cryptocurrency ecosystem has been cautioned against potential scams and malicious links amidst the excitement surrounding Starknet’s token distribution and the airdrop.