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StarKent STRK enters the main cryptocurrency exchanges and carries out a pump-dump

The start in the markets of the StarNet STRK token, an Ethereum pool whose goal is to ensure the scaling of the blockchain, ended with a classic “pump and dump” (strong rise and fall). This happened in the first minutes after its launch, yesterday, Tuesday, February 20, 2024.

The price of the newly listed Starkent token (STRK) is rising and falling on major cryptocurrency exchanges.

Yesterday afternoon (17:00 Dubai time)... Symbol STRK On several centralized exchanges such as Binance, Cocoin, OKX, MEXC, Bybit and Bitget, the token price very quickly peaked at $4.41 within minutes of listing and then returned to $2.06 at the time of writing this articles. article. .

Because Starknet tokenomics was based on the creation of 10 billion tokens. The market value of the tokens in circulation (circulating supply) reached $20.83 billion. Thus, STRK is among the 59 largest digital currencies by market capitalization.

According to the project's token economy announced at X, 728 million tokens were initially released to the market. 50.1% of STRC's supplies also went to the Starkent Foundation for community assistance, grants and donations. At the same time, 24.68% of the total supply of STRC will be distributed among early shareholders and investors. At the same time, 32% was allocated to StarkWare employees, consultants and development partners.

The following codes will be issued every month for 31 months, starting in April. Although the airdrop affected 1.3 million addresses, the project has drawn some criticism in recent days after it was noted that more than 1.3 million tokens would be available within two months to large shareholder investors and traders without the usual vesting period during the first years of existence of the token.

StarNet bills itself as a Layer 2 network that “unlocks the potential of Ethereum by providing unlimited scalability through the STARK protocols.” Its publisher, Starkware, received a valuation of $8 billion in 2022 after a Series D funding round.

👈 At what price will Starkent tokens (STRK) be issued? Controversial airdrop

The Starkent token giveaway launched earlier this month has disappointed many people on social media. In fact, the latter believes that the project does not reward the community at fair value. The second STRK landing is planned for next summer.

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