Crypto News

Vitalik Buterin Moves $858.7K In $STRK As Starknet Introduces New Update

Vitalik Buterin (@VitalikButerin) recently transferred 2.1 million $STRK, valued at $858.7K, to a new wallet just an hour ago.

As a seed investor in Starknet, Vitalik has received the $STRK tokens over two unlocks.

The transfer comes at a crucial time for Starknet as it rolls out its v0.13.2 update, which introduces parallel execution to enhance transaction speeds on its Layer-2 network.

The $STRK/USD pair is showing signs of a potential bullish breakout, with analysts eyeing the $0.43 price level as a key resistance point. Should it break through, this could mark the start of a strong upward trend for $STRK.

Some notable developments around Starknet include the recent change in the project’s CEO, likely influenced by recent token listings.

Additionally, there’s an upcoming vote for staking $STRK, providing holders with more governance power. The team is also re-launching several features to re-engage the community, and Dune has provided updated analytics on $STRK.

StarkNet Total Value Locked Sees Remarkable Increase

Since the Token Generation Event (TGE) in February, Starknet’s Total Value Locked (TVL) has seen strong growth, peaking in April before slightly declining and stabilizing. The TVL is largely driven by two major projects: Ebubo, an Automated Market Maker (AMM) DEX developed by a team split off from Uniswap, which received $12 million in funding from UniSwap; and Nostra, which focuses on lending, borrowing, and liquid staking derivatives (LSD), among other DeFi applications.

With these updates and growing interest from key investors like Vitalik Buterin, Starknet is positioning itself as a major player in the Layer-2 ecosystem. The next few months will be critical for $STRK as it aims to capitalize on its recent developments and attract more users to its platform.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: kanawatth/123RF// Image Effects by Colorcinch

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