Starknet STRK Token Debut and Market Overview

Starknet’s STRK token commenced trading on multiple exchanges today, with approximately 728 million airdrop tokens being dispersed. The token has garnered significant attention in the crypto sphere due to its market cap of about $2.47 billion, as reported by CoinGecko. However, the fully diluted valuation (FDV) of the token stands at a staggering $34 billion presently. If the FDV were considered the actual market cap, it would position $STRK as the 6th largest cryptocurrency globally, nestled between SOL and XRP.

Concerns Surrounding Token Distribution and Future Releases

The distribution of $STRK’s tokens has sparked concerns within the crypto community, primarily because nearly half of the total supply is allocated to the project, team, and investors. Moreover, there is significant apprehension regarding the planned release of 13% of $STRK’s total supply to the team and investors in early April.

Price Fluctuations and Trading Performance

Initially, $STRK saw a high trading price of $5 on Kucoin; however, it experienced a decline to as low as $2.27 before rebounding above $3, according to data from CoinGecko. The token’s trading performance has been closely monitored by investors and analysts alike in light of its market cap and fully diluted valuation figures.

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