Weekly Token Unlocks: STRK Unlocks 4% of Circulating Supply but Price Surges
Weekly Token Unlock Recap: STRK's 4% Supply Release Sees Price Rally
This week's major token unlocks featured two prominent Ethereum scaling solutions:
**Starknet (STRK):** Approximately 130 million STRK tokens (4% of circulating supply), valued at roughly $7.19 million, were unlocked. Starknet is an Ethereum Layer 2 network utilizing zk-STARKs technology to enable faster and cheaper transactions. Despite the significant supply increase, the token's price experienced an upward movement.
**Arbitrum (ARB):** Around 95.87 million ARB tokens, worth approximately $13.71 million, were released. Arbitrum is another leading Ethereum Layer 2 solution that processes transactions off-chain before bundling them for Ethereum mainnet settlement, offering improved scalability and lower costs. The ARB token grants holders governance rights within the ecosystem.
Both projects continue to play significant roles in scaling the Ethereum network.
marsbit05/10 01:08
