In the context of Starknet (STRK) facing the risk of losing its position in the top 100, Vitalik Buterin made a noteworthy transaction, transferring 2.09 million STRK to Binance. Prior to today’s cryptocurrency price surge, the value of STRK was close to hitting a new record low.
At the current price, Buterin's transaction is valued at about $800,000.
This mysterious transaction was detected by the Onchain Lens automated monitoring system. Analysts also predict that Buterin may be selling STRK at a loss of about $714,000.
If the above information is accurate, the founder of Ethereum may have nearly completed liquidating his STRK holdings, with only 15,862 tokens remaining.
Vitalik Buterin is one of the early investors in Starknet. This token, along with Ether, is one of his largest investments.
In September last year, Buterin unlocking his STRK holdings attracted significant public attention. Many opinions suggested that this could be a negative signal for Starknet.
STRK is down 90% from its all-time high
As of now, STRK is one of the worst-performing cryptocurrencies in the top 100. Launched on the mainnet on February 20, 2024, this asset has lost 90.5% of its value.
STRK price chart | Source: CoinGecko
Before the cryptocurrency market rebounded strongly, STRK traded below $0.34, quite close to the record low recorded last August.
Starknet is an EVM-compatible Layer-2 solution on the Ethereum platform, aimed at addressing the speed and scalability limitations of Layer-1. This protocol uses the Cairo programming language to create programs that can be verified by STARK, serving general computation needs.
