StarkWare and Starknet Teams Sell Over 4 Billion $STRK Tokens, Claims Analyst

According to Andrew from the X platform, the token sales represent around 4% of the total supply, raising concerns about the team's market behavior.

STRK

Summary

Analyst Andrew from the X platform reported that StarkWare and Starknet have sold at least 400 million $STRK tokens, representing approximately 4% of the total supply. He suggested that the actual amount sold could be higher, as evidence is still being gathered. Additionally, Andrew criticized the teams for promoting bullish sentiments while continuously selling tokens, labeling them as the 'largest extractor' of this cycle.

Terms & Concepts
  • $STRK: The native utility token of the StarkWare and Starknet platforms, used for various functions within their ecosystem.
  • StarkWare: A technology company focused on developing scalability solutions for blockchain networks, particularly through zero-knowledge proofs.
  • Starknet: A Layer 2 scaling solution for Ethereum developed by StarkWare, enabling faster and cheaper transactions.