Flow

Solana

Starknet

Millions

Million

<p>The native token of Starknet’s decentralized identity protocol sank 44% in the last 24 hours after its long-awaited airdrop distribution. According to blockchain analytics from <a href="https://twitter.com/spotonchain/status/1760141880438976554" target="_blank" rel="noopener noreferrer nofollow">SpotOnChain</a>, selling pressure originated from recipients including major Starknet stakeholder Nethermind and trading firm Flow Traders.</p>
<h2 class="wp-block-heading" id="strong-nethermind-unloads-2-3-million-worth-of-free-tokens-strong"><strong>Nethermind Unloads $2.3 Million Worth of Free Tokens</strong></h2>
<p>As a Lido node operator, Nethermind received over 10.25 million STRK tokens. SpotOnChain data reveals Nethermind wasted little time dumping tokens via Uniswap, offloading 959,100 STRK worth $2.31 million so far.</p>
<p>With over 9.24 million STRK still held in their wallets, another nearly 9.24 million STRK remains at Nethermind’s disposal. As one of the most active early sellers, though, their distributions could depress STRK’s price recovery in the short-term.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="624" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-788-1024x624.png" alt="" class="wp-image-441684" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-788-1024x624.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-788-300x183.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-788-767x468.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-788-1536x937.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-788-2048x1249.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-788-246x150.png 246w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-788-100x61.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-788-574x350.png 574w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-788-788x480.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-788.png 1584w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<h2 class="wp-block-heading" id="strong-flow-traders-sells-and-deposits-for-liquidity-strong"><strong>Flow Traders Sells and Deposits for Liquidity</strong></h2>
<p>Quantitative trading firm Flow Traders also showed prominent activity as an airdrop recipient of 5 million STRK tokens. Flow sent 3.5 million tokens directly to leading exchanges Binance and 100K STRK to Crypto.com – likely to supply liquidity for its algo trading operations.</p>
<p>Another 943,000 STRK valued above $3.5 million got sold across decentralized venues like Uniswap to capture profits. With decentralized identity solutions still nascent, the likelihood that Flow Traders holds onto remaining inventory long-term appears unlikely.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="621" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-789-1024x621.png" alt="" class="wp-image-441692" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-789-1024x621.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-789-300x182.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-789-767x465.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-789-1536x931.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-789-2048x1242.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-789-247x150.png 247w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-789-100x61.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-789-577x350.png 577w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-789-788x477.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-789.png 1590w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>The key? Getting in early, especially during the IDO phase. <strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow">Get in on NuggetRush</a></strong> now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the<strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"> current ICO prices</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p>Between greedy recipients immediately cashing out and traders focused on short-term gains, Starknet’s airdrop distribution failed to inspire buying interest. With so much locked value still circulating at heavy discounts, patient capital has an opportunity to accumulate a wider ownership stake.</p>
<p>But continued selling pressure may continue to act as an overhang on STRK until it is exhausted. Developers also maintain a long road towards proving real utility and mainstream adoption for self-sovereign identity.&nbsp;</p>
<p>The token has plunged to its current price of $1.72 from a high of $3 in the last 24 hours. STRK currently has a market cap of $1.25 billion.</p>
<p>You may also be interested in:</p>
<ul>
 <li><a href="https://captainaltcoin.com/ethereum-will-likely-outrun-bitcoin-btc-this-week-analyst-forecasts-next-leg-up-for-eth/" target="_blank" rel="noopener noreferrer nofollow">‘Ethereum Will Likely Outrun Bitcoin (BTC) This Week’, Analyst Forecasts Next Leg Up for ETH</a></li>
 <li><a href="https://captainaltcoin.com/japans-jasmycoin-price-soars-amid-whale-movements-can-jasmy-hit-new-ath-pay-attention-to-this-metric/" target="_blank" rel="noopener noreferrer nofollow">Japan’s Jasmycoin Price Soars Amid Whale Movements: Can JASMY Hit New ATH? Pay Attention To This Metric</a></li>
 <li><a href="https://captainaltcoin.com/blockdags-2-million-giveaway-and-5000x-rois-pull-in-investors-from-scapesmania-and-solana/" target="_blank" rel="noopener noreferrer nofollow">BlockDAG’s $2 Million Giveaway and 5000x ROIs Pull in Investors from ScapesMania and Solana</a></li>
</ul>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-nuggetrush-nugx-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check NuggetRush ($NUGX)</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy NUGX Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/starknet-plunges-42-following-airdrop-distribution-who-are-the-two-major-strk-sellers/" rel="noopener noreferrer nofollow">Starknet Plunges 42% Following Airdrop Distribution: Who Are The Two Major STRK Sellers?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Starknet Plunges 42% Following Airdrop Distribution: Who Are The Two Major STRK Sellers?

Table of Contents

CaptainAltcoin

Другие статьи, опубликованные 21 февр. 2024 г.

Awaiting the Outcome of the FATF Meeting: UAE Nears Exit from Grey List

NAKA’s Bullish Signs Revealed by Popular Crypto Trader and Analyst

Lido adds support for 1inch as withdrawal aggregator

VanEck’s Bitcoin ETF Sees Sudden Surge in Trading Volume

LINE NEXT enters into a strategic partnership with ReadON

Do Kwon Faces US Extradition Following Montenegro Decision

Join our free newsletter for daily crypto updates!