STRK (Starknet) fell 8.15% in the last 24 hours.

Gate News Bot news, August 1st, according to CoinMarketCap, as of the time of writing, STRK (Starknet) is currently priced at $0.12, having fallen 8.15% in the last 24 hours, with a peak of $0.14 and a low of $0.11. The current market capitalization is approximately $444 million.

Starknet is a Layer 2 scaling solution that uses STARK technology to ensure computational integrity. It overcomes the scalability limitations of Ethereum by verifying transactions off-chain using advanced mathematics and cryptography. As a validity Rollup, Starknet offers unlimited scalability while maintaining the security and decentralization of Ethereum.

Important news about STRK recently:

1️⃣ StarkWare and Starknet teams massively sold off STRK tokens The StarkWare and Starknet teams have sold at least 400 million STRK tokens to the market on their network, accounting for about 4% of the total supply. This large-scale sell-off may be one of the main reasons for the fall in the STRK price. The team's move has raised concerns in the market about the project's prospects, which in turn has affected investor confidence.

2️⃣ Discrepancies between team behavior and public statements cause controversy There are opinions that point out that the StarkWare and Starknet teams are actively making bullish statements on one hand, while continuously selling tokens on the other. This inconsistency in behavior has raised market doubts about the team's integrity, which may further exacerbate the fall in STRK prices.

3️⃣ The market has uncertainty regarding the actual selling scale Currently, there is still uncertainty in the market regarding the actual number of STRK tokens sold by the StarkWare and Starknet teams. Some believe that the actual amount sold may exceed the known 400 million tokens. This uncertainty may continue to have a negative impact on the STRK price in the short term.

From a technical perspective, the STRK price has shown a significant fall in the past 24 hours, retreating from a high of $0.14 to a low of $0.11, a decline of 8.15%. This trend suggests that STRK may face further downward pressure in the short term.

This message is not to be taken as investment advice, and investors should be aware of market volatility risks.