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<p class="is-style-lead">Many users are selling and swapping their airdropped STRK tokens, as Starknet peaked at $3.42 within an hour of its debut.</p> 
<p>Airdropped users cashed in on <a href="https://crypto.news/starknet-active-user-count-drops-by-57-in-week-after-airdrop-announcement/">Starknet’s</a> hype, selling large portions of holdings across several exchanges. The token traded for up to $7 across exchanges like Binance and KuCoin due to initial demands and liquidity.&nbsp;</p> 
<p>Data from <a href="https://twitter.com/lookonchain/status/1759968913717166314" target="_blank" rel="noopener">Lookonchain</a> shows that Flow Traders, a popular liquidity provider, received five million STRK tokens in the airdrop, selling 653,000 for $2.48 million. Nethermind, a research solution provider for Starknet, received 10.25 million STRK tokens, valued at around $23 million. So far, Nethermind has sold over 700,000 STRK, according to <a href="https://etherscan.io/token/0xca14007eff0db1f8135f4c25b34de49ab0d42766?a=0x237dee529a47750becdfa8a59a1d766e3e7b5f91" target="_blank" rel="noopener">Etherscan</a> data.&nbsp;</p> 
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   <p lang="en" dir="ltr">It seems that <a href="https://twitter.com/hashtag/FlowTraders?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#FlowTraders</a> is selling <a href="https://twitter.com/search?q=%24STRK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$STRK</a>!<a href="https://twitter.com/hashtag/FlowTraders?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#FlowTraders</a> received 5M <a href="https://twitter.com/search?q=%24STRK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$STRK</a> and sold 653K <a href="https://twitter.com/search?q=%24STRK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$STRK</a>($2.48M) at $3.79 on <a href="https://twitter.com/hashtag/DEX?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#DEX</a>.<br><br>Then <a href="https://twitter.com/hashtag/FlowTraders?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#FlowTraders</a> deposit 3.5M <a href="https://twitter.com/search?q=%24STRK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$STRK</a> to <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Binance</a> and 100K <a href="https://twitter.com/search?q=%24STRK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$STRK</a> to <a href="https://twitter.com/hashtag/Cryptocom?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Cryptocom</a>, with 747K <a href="https://twitter.com/search?q=%24STRK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$STRK</a> left.<a href="https://t.co/7uUaAB8YSF" target="_blank">https://t.co/7uUaAB8YSF</a> <a href="https://t.co/Vj9fgV7i71" target="_blank">pic.twitter.com/Vj9fgV7i71</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1759968913717166314?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">February 20, 2024</a>
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<p> You might also like: <a href="https://crypto.news/starknet-strk-trading-airdrop/"> Starknet’s STRK opens trading under $4 after airdrop </a> </p> 
<p>Sell-offs are not unexpected, as the airdrop has been anticipated for months and marks one of the largest token distributions in recent years. It is usual for traders to utilize the early volatile <a href="https://coinmarketcap.com/currencies/starknet-token/" target="_blank" rel="noopener">market</a> after a token’s initial launch.&nbsp;</p> 
<p>Early sell-offs have impacted STRK’s volatility, as the token has dropped nearly 44% from its peak price earlier today. Strong optimism surrounding Starknet’s performance still remains, as today’s airdrop was just the first phase of a wider <a href="https://crypto.news/starknet-strk-trading-airdrop/">700 million</a> token distribution plan. The layer-2 rollup network also has strong support from the developer community, as it aims to solve Ethereum’s scalability issue and reduce costs.&nbsp;</p> 
<p> Read more: <a href="https://crypto.news/ethereum-dencun-spot-eth-etf/"> Ethereum hits $3k on Dencun, spot ETH ETF anticipation </a> </p>

STRK trading spikes on major exchanges after Starknet’s 128m airdrop

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