Cryptocurrencies continue to capture investors’ attention due to their high profit expectations. Since Bitcoin‘s emergence, many new cryptocurrencies and projects have appeared. The concept of cryptocurrency also brought the concept of airdrops, which provided rewards to investors based on their support for networks and trust in projects. This raised questions about whether eye-catching projects that emerged with great hopes could reach a market cap of 1 billion dollars. So, is this possible?
Starknet (STRK) Overview
Recently, Starknet’s native token STRK has remained in the spotlight, hosting debates and rumors during its airdrop process. Despite market fluctuations, Starknet showed resilience, but this did not last long. In the past week, STRK experienced significant losses, declining by 32% in parallel with Bitcoin’s drop.
As of today, after a 15.75% drop in the last 24 hours, STRK is trading at $0.70, with a market cap of $921 million, far from the critical $1 billion mark. The 24-hour trading volume increased by 10%, reaching $139.8 million. Although the $1 billion level does not seem far off, the current market conditions appear to be preventing this for now.
However, a potential BTC movement and positive news in the coming days could lift the market and STRK’s price, possibly pushing the market cap back to $1 billion.
Ethena (ENA) Comments
Ethena (ENA) continues to be another notable project in the market. Like STRK, it attracted attention during its airdrop period but later experienced a sharp decline. Ethena has also been compared to LUNA in cryptocurrency circles.
The recent 7-day decline in Ethena (ENA) had a significant impact on its price, with a drop of 18.47%. In the last 24 hours, the decline exceeded 17%, leaving the price at $0.58. ENA’s market cap is currently at $892 million, although it had experienced much larger drops in the past.
Despite this, Ethena (ENA) could quickly surpass the $1 billion mark in the future, depending on a potential market rise. However, negative developments could lower the price and market cap.
