The price of STRK, the native token of Ethereum Layer-2 platform Starknet, has seen a sharp decline after its market debut. On major crypto exchanges, the price of STRK swung sharply with a high of $5 and a low of $2.10 on KuCoin. According to CoinGecko, the value of STRK rose to $4.41 on most exchanges but also dropped significantly, currently trading at around $2.66.
The drop in price coincides with the start of the distribution of STRK to eligible airdrop participants by the Starknet Foundation. Over 700 million tokens have been airdropped to 1.3 million addresses and are now available for claiming. This distribution also marks the start of STRK trading on major exchanges such as Binance, KuCoin, and Bitfinex.
The provisions program for the distribution allows the community to collect 50% of the airdrops, with eligible recipients including early contributors, Starknet users, StarkWare employees, Starknet developers, and ETH stakers. Those who wish to claim their STRK can do so by visiting the Starknet Foundation’s website.
In addition to the distribution and trading, Binance also announced support for the distribution to its ETH stakers. The exchange has already distributed 10,178,280 STRK to all eligible stakers at a ratio of 10.26375. Trading for STRK on Binance is set to open at 13:00 UTC on February 20.
Categories and tags for this article include cryptocurrency, Ethereum, Starknet, and STRK trading. To stay updated on the latest news and developments, be sure to follow the Starknet Foundation on Twitter.
