The listing of the STRK token on Binance
Today, the STRK token, which is the cryptocurrency of the Starknet project, will also be listed on Binance. Trading on the platform will begin at 1:00 PM UTC on February 20, 2024.
The news was announced through a statement on the official exchange website.
STRK arrives on Binance: the official listing of the crypto
- The STRK token of Starknet will be tradable on Binance in four pairs, STRK/FDUSD, STRK/USDT, STRK/BTC, and STRK/TRY.
- The deposits of STRK tokens on Binance have already been enabled, while withdrawals will only be enabled tomorrow.
- Binance warns that STRK is a relatively new token and therefore carries a higher than normal risk. For this reason, it will likely be subject to high price volatility.
The STRK token airdrop
- The claim of Starknet’s STRK tokens has been started today. Tokens can already be claimed, cashed out, and traded.
- Binance is not the first exchange to allow the trading of these tokens, as it was preceded by two other major exchanges, Bybit and KuCoin.
The impact of Binance’s crypto listing on Starknet (STRK) price
- The debut took place at around $2.4, with an almost immediate increase to over $2.6. In the following minutes, it also rose to $2.7 before reaching a peak of $7.7 on Binance at the opening of trading. It then dropped back to $3.
- While the STRK token has only been on the markets since today, the Starknet project has been around for much longer.
The Starknet Project
- Starknet is a layer-2 of Ethereum that wouldn’t need its own native token to work.
- After last week’s announcement, activity on the Starknet layer-2 had increased significantly but then decreased a lot.
- Five days later they stabilized around 70,000 per day. However, the highest daily peak is still that of July 28, 2023 when they were about 386,000.
Hot Take: What does this mean for you?
If you are considering investing in cryptocurrencies such as STRK or participating in their airdrops or trading activities, it’s important to stay informed about market trends and project developments to make informed decisions about your investments. The impact of listings and announcements can influence price movements and overall market sentiment for cryptocurrencies like STRK. Keep an eye on these developments to make strategic investment choices in line with your financial goals and risk tolerance in this volatile market.
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