Bitcoin

Starknet

<p><strong>Starknet (STRK) has climbed to 71st by market cap with a 10% price rise this week. However, negative funding rates suggest traders doubt the sustainability of this growth. Technical analysis hints STRK could hit $0.63 but may fall back to $0.50 due to profit-taking.</strong></p><h2 id="header-0"><strong><a href="https://playaigames.online/" rel="noopener noreferrer nofollow">Artificial Intelligence Games launches its native token, AIG. The pre-sale is live. Expected 10X Profit, Join Pre Sale At PlayAiGames.online</a></strong></h2><h2 id="header-1"></h2><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/6320e6cf5147474c8453b54e8041c0e8.png" /><p></p><p>Layer 2 tokens, including Optimism (OP) and Arbitrum (ARB), have also surged recently, with gains of 29% and 16%, respectively. Starknet’s price increase reflects this broader trend</p><h3 id="starknet-s-market-surge-and-derivatives-activity">Starknet’s Market Surge and Derivatives Activity</h3><p>Starknet’s (STRK) recent trading activity and price increase have boosted its market capitalization, which now stands at $905 million. This marks its highest value over the past week, placing it as the 71st largest cryptocurrency by market cap. Market capitalization reflects the total value of all circulating tokens, and a surge indicates a growing asset value and heightened demand.</p><p>The uptick in STRK’s price has also stimulated activity in its derivatives market, evident from a rise in futures open interest. As of now, futures open interest for STRK is $51 million, showing a 9% increase over the past week. This metric represents the number of outstanding futures contracts that haven’t been settled, and a rise indicates more traders are entering new positions.</p><h2 id="header-2"><strong><a href="https://playaigames.online/" rel="noopener noreferrer nofollow">Artificial Intelligence Games launches its native token, AIG. The pre-sale is live. Expected 10X Profit, Join Pre Sale At PlayAiGames.online</a></strong></h2><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/aef2701cfe8c41b6be6db1e83357dc72.webp" /></p><p>Starknet Funding Rate. Source: Coinglass</p><p>Despite the increase in trading activity, many derivatives traders are skeptical about the sustainability of STRK’s rally. This skepticism is reflected in the token’s negative funding rates, which have prevailed during this period. Negative funding rates suggest that more traders are shorting the asset, anticipating a price decline, rather than buying it in expectation of further gains.</p><h3 id="technical-indicators-suggest-potential-extended-rally-for-starknet-strk">Technical Indicators Suggest Potential Extended Rally for Starknet (STRK)</h3><p>Analyzing STRK on a one-day chart, several technical indicators suggest the potential for an extended rally. Notably, the Chaikin Money Flow (CMF) has been rising alongside STRK’s price. The CMF measures the flow of money into and out of an asset; when it increases, it indicates that liquidity is being added to the market. An upward trend in both the price and CMF signals that the price rally is supported by genuine demand.</p><h2 id="header-3"><strong><a href="https://playaigames.online/" rel="noopener noreferrer nofollow">Artificial Intelligence Games launches its native token, AIG. The pre-sale is live. Expected 10X Profit, Join Pre Sale At PlayAiGames.online</a></strong></h2><p>Additionally, STRK’s Accumulation/Distribution (A/D) line is also trending upward. This indicator tracks the cumulative flow of money into and out of an asset. When both the price and the A/D Line are rising, it confirms a strong uptrend and suggests robust buying pressure.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/1193080cca8442ec8622e37570e441d7.webp" /></p><p>Starknet Analysis. Source: TradingView</p><p>If this buying pressure persists, STRK’s price could potentially rise to $0.63. However, should profit-taking begin, the price might fall to the $0.50 level.</p><p><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</p><p><strong>#STRK </strong> <strong>#StarkNet </strong> <strong>#Trump </strong> <strong>#Bitcoin </strong> <strong>#BinanceTurns7 </strong> $STRK $BTC $ETH</p>

Starknet (STRK) Climbs to 71st by Market Cap Amid Layer 2 Token Rally

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Інші статті, опубліковані 15 лип. 2024 р.

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