Solana Criticizes Starknet’s $1B Market Cap; Dune Data Disputes Low Activity Claim
Solana’s claim about Starknet’s low activity is challenged by Dune data, revealing significantly higher usage. StarkWare CEO Eli Ben-Sasson and Solana cofounder Toly both commented on the dispute.
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Summary
On Jan. 15, Solana’s official account claimed Starknet had only 8 daily active users and 10 daily transactions despite a $1B market cap and $15B FDV. StarkWare CEO Eli Ben-Sasson responded, mocking the claim. However, Dune data shows Starknet processes about 245,416 daily transactions from 2,369 addresses, contradicting Solana's assertion.
Terms & Concepts
- Starknet: An Ethereum layer-2 scaling network using zero-knowledge proofs to increase throughput and reduce costs.
- Market cap: The total value of a crypto asset, calculated by price multiplied by circulating supply.
- Fully Diluted Valuation (FDV): The market value assuming all tokens are in circulation, equal to price times total supply.