- StarkNet gives Vitalik Buterin 845,205 STRK tokens worth $1.07 million.
- Bullish market mood is reflected in the 2.33% rise in STRK price in the last 24 hours.
Significantly, today Ethereum co-founder Vitalik Buterin unlocked and took 845,205 STRK tokens from the Locked Token Grant contract of the Ethereum Layer 2 network, StarkNet.
The worth of these tokens comes to about $1.07 million. Being an early StarkNet investor, Buterin raises awareness of this occasion and elicits strong feelings in the cryptocurrency community.
Vitalik unlocked and received 845,205 STRK from the Locked Token Grant contract of the Ethereum L2 network Starknet today, worth $1.07M. Vitalik Buterin is an early individual investor in StarkNet. H/T @EmberCN https://t.co/8SuYhDbP9h
— Wu Blockchain (@WuBlockchain) May 24, 2024
Reaction of the Market and STRK Price Fluctuation
Fizen.io CEO Leo offered his thoughts on the matter, saying that even if Vitalik Buterin decides not to sell his just unlocked tokens, the price of STRK is probably going to fluctuate.
$STRK price will fluctuate even if Vitalik doesn't dump his tokens
— Leo | CEO Fizen.io (@leovu021) May 24, 2024
This declaration shows how sensitively the market reacts to big token changes, particularly when they include well-known people like Buterin. To further compound the ambiguity and market dynamics, the community is speculating on whether Buterin will keep or sell these tokens.
CoinGecko data shows that the price of STRK is now around $1.25, up 2.33% from the previous day. STRK has been trending bullish for the last week, rising by a noteworthy 11.84%.
This strong result demonstrates the increasing interest and trust in StarkNet’s potential and capabilities inside the Ethereum ecosystem.
Remarkable TVL Growth of StarkNet
ETHNews reported earlier this year, in February, that StarkNet’s Total Value Locked (TVL) had surpassed $1 billion. As to this point, StarkNet is the fourth Ethereum Layer 2 solution to reach such an impressive number.
The quick growth of TVL demonstrates the promise of StarkNet and the confidence the community has in its efficiency and scalability solutions.