STRK’s token has fallen by over 50% since its launch on Feb. 20 as airdrop hunters and large token recipients sell millions of the tokens.
The two-day-old token of Ethereum layer-2 network Starknet has more than halved in price as Ethereum infrastructure firm Nethermind and airdrop farmers dumped millions of dollars worth of the airdropped token.
Starknet’s (STRK) price has dropped nearly 60% and is trading under $1.90 from a Feb. 20 top of $4.41, when it was airdropped to some of the blockchain’s users, according to CoinGecko data.
STRK hit as high as $7.70 on Binance following its listing on the exchange, but its price there has since dropped 75.4% to below $1.90.
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