Starknet Token Price Skyrockets to $2, Potential Rise to $3
Date: 2024-02-27 Author: Dima Zakharov Categories: BUSINESS
Starknet's Token Price Surge
The recently launched Ethereum Layer 2 project, Starknet (STRK), has experienced a significant 2.76% price surge in the past 24 hours. This spike ensued after the Starknet team revised the token unlocking schedule, addressing concerns raised by the community.
Development and Market Signals
Amid active developments within the Starknet network, investor Crypto Rand describes the Starknet ecosystem as "epic" in terms of its progress. The ongoing developments suggest a potential for further price escalation for STRK, provided the current momentum sustains.
Market Trends and Analysis
Supertrend indicators have signaled a "buy" trend as the hourly chart for STRK/USD revealed fluctuations around the $2 mark. Despite brief sell signals, subsequent buy signals accompanied by strong Relative Strength Index (RSI) values indicate bullish sentiment, potentially driving STRK's price to levels around $2.35 or even $3, particularly if Ethereum's price also rises significantly.
Total Value Locked (TVL) Surpasses $1 Billion
Starknet project's success extends to its Total Value Locked (TVL), which has surged by 637% to $1.38 billion since the mainnet launch, according to L2BEAT. This substantial increase in TVL signifies growing trust in Starknet, with participants adding liquidity in anticipation of higher returns.
