HomeNewsThree Arrows Capital Liquidation: Teneo Moves $2.63M in STRK

Three Arrows Capital Liquidation: Teneo Moves $2.63M in STRK

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  • Teneo puts 2.18 million STRK, or $2.63 million, into Binance in the middle of Three Arrows Capital’s liquidation.
  • The STRK price increases 0.72% in a day, or 7.18% weekly.

Spot on Chain reports that Teneo, the Three Arrows Capital liquidator, has made significant STRK token deposits into Binance during the last three days. More precisely, 2.18 million STRK—roughly $2.63 million—were sent to the exchange.

This is a component of the continuing liquidation procedure after Three Arrows Capital filed for bankruptcy.

Presently, Teneo owns 130 million STRK, or around $157 million, from the company’s bankrupt assets. Teneo is therefore the second-biggest STRK holder, after team and centralized exchange wallets.

Price performance of STRK

According to CoinMarketCap data, the price of STRK at the moment of writing is about $1.24, up 0.72% over the previous day. This increase fits within a larger bullish trend that has seen the token rise by 7.18% over the previous seven days. Positive price movement suggests increasing investor confidence and possible token market interest.

Relatedly, ETHNews just reported that Ethereum co-founder Vitalik Buterin received 845,205 STRK tokens from StarkNet lately.

These $1.07 million tokens represent StarkNet’s attempts to establish relationships with well-known members of the cryptocurrency community. In the blockchain world, this calculated action might increase the project’s authority and reputation.

Progress of StarkNet and Prospects for the Future

Leading participant in Ethereum’s Layer 2 scaling solutions, StarkNet, keeps improving blockchain scalability and efficiency.

The initiative tries to solve the shortcomings of the Ethereum network by using zk-rollup technology to enable quicker and less expensive transactions. With its more scalable and effective solution, StarkNet is establishing itself as a vital infrastructure supplier for DeFi protocols and decentralized applications (dApps).

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Syofri is an active forex and crypto trader who has been diligently writing the latest news related to the digital asset sector for the past six years. He enjoys maintaining a balance between investing, playing music, and observing how the world evolves. Business Email: info@ethnews.com Phone: +49 160 92211628