The cryptocurrency Starknet (STRK) has recently stirred up the digital currency community due to its controversial eligibility criteria for users, which includes holding a minimum of 0.005 ETH. This prerequisite has led to widespread discontent among many investors who felt excluded. Following the activation of the claim page, the project suffered from technical difficulties. Despite an initial price spike to $7 at the beginning of trading, STRK’s value quickly declined. In a significant development, the prominent cryptocurrency exchange Coinbase has just revealed that it will be adding STRK to its trading platform.
Starknet Gains Investor Enthusiasm with Coinbase Listing
Coinbase’s announcement has ignited excitement among the supporters of Starknet, eager for the new trading opportunities that listing on such a major exchange presents. Coinbase has cautioned users to transfer STRK assets only through the Ethereum network as an ERC-20 token to avoid potential losses.
Impact of Coinbase Listing on STRK’s Market Value
Coinbase’s listings typically influence cryptocurrency values significantly, but Starknet’s volatile market debut may have mitigated expected price shifts. Investors experienced frustration as technical issues with the claim page prevented them from selling their holdings at favorable rates, sparking criticism towards the project. STRK’s price initially jumped to over $7 on the Binance exchange but later stabilized around $1.6. Current data from CoinMarketCap shows a decline in STRK’s price by over 10% in the past day, now trading at $1.91.
The market capitalization of STRK has similarly decreased by more than 10%, falling below the $1.4 billion mark. However, a surge in trading volume by 52% over 24 hours, now exceeding $1.3 billion, suggests an uptick in sell-off activity that could further impact the token’s price trajectory.