Starknet Token Launch Left in Thriller as Whale Receives Mammoth Airdrop

• STRK token noticed a $3 million airdrop consolidated right into a single pockets.
• STRK dipped to $3.50, experiencing a 13.69% lower.
• Starknet’s token boasts a $1.58 billion 24-hour buying and selling quantity.

Lookonchain shared, in an X publish, that an nameless pockets acquired an airdrop price $3 million by way of 1,361 wallets. Particularly, the airdrop featured 1.432 million STRK, the native token for the Ethereum layer-2 scaling answer Starknet. 

In response to studies, Starknet commenced distributing 700 million tokens to roughly 1.3 million addresses because it marked the airdrop’s official launch. The token distribution plan allocates 50.1% to the Starknet Basis for group packages, 24.68% to early contributors, and 32% to StarkWare staff and companions.

STRK, touted because the “largest airdrop of the yr,” started buying and selling at $5 on crypto change KuCoin however has since dipped to $3.50, showcasing early worth swings. With an preliminary complete provide of 10 billion tokens, studies claimed that the totally diluted worth reached $35 billion, whereas the present market cap stands at $2.32 billion.

As of February 21, STRK has skilled a big 13.69% lower in buying and selling previously 24 hours, with the present worth standing at $2.03. Regardless of this dip in worth, STRK maintained a 24-hour buying and selling quantity of $1.58 billion. 

CoinMarketCap’s knowledge confirmed that STRK has a market cap of $1.48 billion and 728 million STRK tokens in circulation. Furthermore, tokens in circulation represented 7.28% of the overall provide, which is capped at 10 billion tokens.