The latest move from the Starknet Foundation might lead to an increase in on-chain activities that have declined so far.
Starknet’s strategic STRK token allocation piques curiosity while its L2 journey unfolds. Even though its tokens have not been launched, STRK is holding strong in the L2 market.recently announced some details regarding its upcoming release of the STRK tokens. The announcement was strategic and has raised curiosity about how it could impact operations on the Layer 2 network., announced the allocation of 50 million STRK tokens.
Additionally, the ECMP program is a key component of the strategy for distributing tokens that were allocated to the Foundation. However, Starknet emphasized that this distribution of tokens is not considered an airdrop.However, there has not been a sudden rise in recent times. The most recently recorded volume was over $105 million. However, over the last 24 hours, it had dropped to around $10.3 million. It is worth noting that the volume might experience an increase before the trading day concludes.Total Value Locked has not exhibited a substantial increase in the recent period. The TVL chart indicated a fall, suggesting a lack of substantial liquidity.
However, this trend could reverse when the STRK tokens are released. Also, this could lead to increased network activity and, consequently, an increase in trading volume.Considering the current trajectory of the TVL, Starknet has maintained a good position among other Layer 2 networks. According to data from
The chart revealed that it also commanded around 1.3% of the market at press time. While this percentage may appear modest, it is still a noteworthy achievement, especially for a network that has not yet launched its token.Adewale is a full-time journalist at AMBCrypto. While he is increasingly fascinating by the world of blockchain and cryptocurrencies, Adewale holds a degree in International Relations.
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