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Starknet (STRK) Foundation’s airdrop, which included 700 million STRK tokens, was carried out on February 20th. According to the announcement made by the Starknet Foundation, approximately 5 million token withdrawal requests were made in the first five minutes. After the airdrop, the STRK price momentarily surged to $7 but later fell to around $3. The resulting price was over 50% higher than what was seen in pre-market listing transactions.
Starknet Airdrop Issues
According to the team’s announcement on X (formerly known as Twitter), there were more than 400 million STRK requests at present. However, significant difficulties emerged in the first minutes of the airdrop, and the process started with problems.
Lookonchain shared data indicating that an individual, with 1,361 wallets, collected over 1.4 million Starknet airdrops, equivalent to 3 million dollars. Subsequently, all these airdrops were consolidated into a single wallet address.
Another lucky Starknet recipient acquired 1.22 million STRK tokens, worth 2.4 million dollars, through 1,800 wallets. These transactions are identified as a Sybil attack, aiming to gain profits through multiple accounts simultaneously.
Recent Developments in STRK
Looking at CoinMarketCap data, there was a notable decrease in trading volume for Starknet, in addition to the price. The volume had surged over 6,000%, reaching up to 1.8 billion dollars, but then fell by more than 50% to 775 million dollars.
On the other hand, additional data provided by Spot on Chain also revealed significant sales specifically for STRK.
According to the analysis, after Nethermind, a Lido node operator, acquired 10.25 million STRK, they later sold more than 959,000 of them. The value of the sold STRK at that time was reported to be 2.31 million dollars.
As of the time of writing, Nethermind still holds 9.24 million STRK tokens. Meanwhile, Flow investors purchased 5 million STRK and sold 4.543 million of them across various cryptocurrency exchanges, earning 17 million dollars when the unit price was above 3 dollars.
At the time of writing, Flow investors had 457,000 STRK tokens remaining. At the same time, the STRK price was trading at $1.86, nearly a 10% increase. The market cap was also up by 10%, at 1.3 billion dollars.
