The Starknet Airdrop: Active Wallet Addresses Fall as Distribution Approaches
After the announcement of the Starknet airdrop, there was a surge in active wallet addresses. However, as the actual drop approaches, the number of active addresses has significantly decreased.
A Dominating Headline: The Starknet Airdrop
Last week, the Starknet airdrop made headlines due to its substantial size and the frustration experienced by some community members when the finer details were revealed. Tomorrow, on February 20, Starknet will proceed with the airdrop and distribute STRK tokens to nearly 1.3 million eligible wallets.
A Spike in Active Addresses
Following last week’s news, there was a huge spike in active addresses on Starknet. On February 14, when full details about the drop were disclosed, the number of active addresses reached a high of 226,576. However, after five days, the daily total has settled to around 70,000 active addresses according to data from the Starkscan explorer. Despite this decrease, it is important to note that Starknet has seen even higher peak daily tallies in the past.
Trading Volume and Asset Value
Trading volume also experienced a spike last week but has now returned to a more normal level. On February 14, the network recorded over $122 million worth of trading volume, which has since decreased to less than $61 million on February 18. Additionally, while there have been fluctuations in active wallets, the total value of assets locked on Starknet has remained relatively unchanged at around $54.35 million.
A Controversial Airdrop Announcement
The handling of the airdrop criteria sparked controversy among community members, particularly regarding the token unlock schedule. StarkWare CEO Eli Ben-Sasson addressed these concerns, stating that they view things differently and have a non-standard approach to team and early investor token unlocking.
The Impact on Crypto Twitter
The decline in active addresses could be attributed to airdrop farmers who had been anticipating the token distribution but have now turned their attention to other chains that have not yet released their tokens.
Hot Take: The Starknet Airdrop Spurs Initial Excitement but Faces Criticism
The Starknet airdrop generated significant buzz and interest within the crypto community. While the number of active addresses has declined as the distribution approaches, it remains to be seen how successful and well-received the airdrop will be. The controversy surrounding the token unlock schedule and the shift in focus by some participants highlight the challenges faced by projects when executing large-scale token distributions.
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