Starknet's STRK Token Trading Commences Following Massive Airdrop; Sees Major Value Drop

By: Eva Baxter

Starknet's native token, STRK, has begun trading following a substantial airdrop, pushing it to become a top 100 cryptocurrency. Unfortunately, the token witnessed a significant drop of 49% since its introduction in the market. This decline could potentially be attributed to the substantial selling pressure due to the numerous airdrop recipients claiming their rewards.

The network managed to distribute an estimated 728 million tokens to approximately 1.3 million addresses, an event hailed as the 'largest airdrop of the year'. While this has been a huge step for the platform, the subsequent pressure might trigger more value drops in the near future.