Starknet futures surge ahead of 700m token airdrop

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As Starknet gears up for its extremely anticipated STRK token airdrop on Feb. twentieth, the perpetual futures marketplace for STRK is witnessing a surge in buying and selling exercise. 

The anticipation of the airdrop has injected volatility into the buying and selling of STRK-USD futures. The present mark worth for STRK hovers round $1.78, reflecting a delicate 24-hour worth decline of 1.14%.

Regardless of this slight downtrend, the market’s sentiment doesn’t seem like dampened, as indicated by the previous day’s purchase/promote quantity ratio, the place purchase orders outweigh promote orders at 55% to 45%. This might counsel that merchants are optimistic concerning the STRK’s prospects post-airdrop.

Starknet STRK
STRK-USD perpetual futures | Supply: Aevo

The open curiosity of over $750,000 within the STRK-USD pair signifies a constructive engagement from merchants, who keep their positions in anticipation of worth actions triggered by the airdrop. Open curiosity within the context of STRK futures refers back to the complete variety of contracts which can be at the moment energetic or open out there.

The Starknet Foundation is an Ethereum layer-2 scaling resolution. The STRK token airdrop will begin on Feb. 20 and run till June 20. Over 700 million tokens shall be distributed to many members, together with Starknet customers, Ethereum stakers, and non-Web3 open-source builders.

With this initiative, roughly 1.3 million wallets stand to profit, marking a step in the direction of allocating a complete of 1.8 billion STRK tokens. Ethereum stakers and builders with out prior Starknet affiliations will even be eligible for this airdrop.

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