Starknet Deposits Surge to 56 Million Dollars Peak Amid Airdrop Hype

Crypto News- As anticipation mounts for the upcoming STRK token airdrop, metrics for Starknet are on the rise, though an official date remains undisclosed.

Starknet, operating as an Ethereum layer 2 network leveraging zero-knowledge proofs for cost-efficient transactions, is gaining traction. L2Fees data reveals transactions on Starknet are approximately ten times cheaper than those on Ethereum.

Starknet Deposits Surge to 56 Million Dollars Peak Amid Airdrop Hype

Currently, the total assets deposited in Starknet-based protocols have soared to an unprecedented $56 million. Notably, Nostra, a native Starknet dApp enabling crypto lending, borrowing, and swapping, holds $16.7 million of this total.

Moreover, trading volume on Starknet has surged, reaching levels not witnessed since November. Ekubo, another native protocol, has been instrumental in this surge, boasting $15.5 million in 24-hour volume and over $70 million in the past week.

Speculation swirls around the impending Starknet airdrop, following Starkware’s token launch on Ethereum Mainnet in November 2022. However, current restrictions prevent token transfer between wallets, hindering buying and selling activities.

The Starknet STRK Airdrop: Anticipation Builds Amid Surging Metrics and Growing Speculation

Hints of the airdrop surfaced in November 2023 when a claim page tied to Starknet’s domain briefly surfaced. Starknet Foundation clarified that eligibility criteria were finalized prior, dismissing present actions’ impact on eligibility.

Airdrops have been pivotal in 2024’s crypto landscape, with notable projects like Dymension, AltLayer, and Manta already conducting distributions. Starkware’s STRK token airdrop could be the next significant event.

Argent Labs, the developer of ArgentX Starknet wallet, hinted at the imminent airdrop on February 7, revealing STRK token visibility within the wallet.

Echoing this sentiment, Starknet Foundation confirmed the impending airdrop in a December announcement, expressing plans to allocate over 1.8 billion STRK tokens across various initiatives to drive adoption and growth.

Backed by prominent venture capital firms like Paradigm, Sequoia Capital, and Polychain Capital, Starknet has raised over $282 million. It currently ranks as the ninth-largest layer 2 network by total deposited crypto assets, according to DefiLlama data.