STRK’s token has fallen by over half since its launch two days ago, as millions of the tokens are sold by airdrop hunters and large token recipients.
The two-day-old token for the Ethereum layer-2 network Starknet has more than halved in price as Ethereum infrastructure firm Nethermind and airdrop farmers dumped millions worth of the airdropped token.
Starknet’s (STRK) price has dropped nearly 60% and is trading under $1.90 from a Feb. 20 top of $4.41 — when it was airdropped to some of the blockchain’s users, per CoinGecko data.
STRK hit as high as $7.70 on Binance following its listing on the exchange, but its price there has since dropped below $1.90 — a 75.4% fall.
