Layer2 project Starknet opened its airdrop for users to claim on the evening of the 21st. According to the latest data from Voyager, over 355 million STRK tokens have been claimed by users, accounting for 77% of the total airdrop allocation.
Starknet, an Ethereum Layer2 project, officially opened its airdrop for users to claim on the evening of the 21st in Taiwan time. According to community reports, besides having to wait in line due to a large number of wallets to claim, the process of claiming the airdrop was smooth.
Data shows that after STRK was made available for trading, its price briefly surged to $7.15 but quickly fell to $3 and fluctuated below $2 in the late night. As of the time of writing, it has slightly rebounded to $2.032.
Airdrop claimed by 77%
According to the latest data from Starknet blockchain explorer Voyager, over 355 million STRK tokens have been claimed by users, accounting for approximately 77% of the total airdrop allocation. Based on the current market price, the total value of these claimed STRK tokens is approximately $763 million.
Institutional selling upon claiming?
According to monitoring data from blockchain analysis platform Lookonchain, well-known market maker Flow Traders has been reducing its holdings of STRK. The data shows that Flow Traders has received a total of 5 million STRK tokens, of which it has successfully sold 653,000 tokens at a price of $3.79 per token on decentralized exchanges, earning approximately $2.48 million in revenue.
In addition to selling on DEX, Flow Traders has also conducted large-scale transfers of its STRK holdings. According to monitoring data, they have transferred up to 3.5 million STRK tokens to the cryptocurrency exchange Binance, and also deposited 100,000 STRK tokens into another exchange, Crypto.com. These transfers may be preparations for further sales or trading in the future. Currently, Flow Traders still holds approximately 747,000 STRK tokens.
Furthermore, Nethermind, the operator of Lido nodes, has also been selling STRK tokens. Data shows that Nethermind has received a total of 10.25 million STRK tokens, worth approximately $23 million. They have already sold 954,100 STRK tokens through a specific wallet, “0x663e,” in exchange for $2.3 million worth of USDC, at an average price of $2.41 per token. Currently, Nethermind still holds 9 million STRK tokens, and if they continue to sell at $2.4 per token, it may create pressure.
With the massive selling by institutions and market makers, there is now strong pressure on the future price of STRK. It is worth keeping an eye on whether the price can reverse and rise.
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