Starknet ($STRK) Crypto Forecast: Down 5.4% Today

What is Starknet?

STRK is a cryptocurrency token that is closely tied to the Ethereum network and its scaling solutions.

Why is Starknet going down?

STRK crypto is down 5.4% on Nov 2, 2024 13:46

• The bearish movement in STRK today could be attributed to profit-taking by investors after a period of strong price performance.
• Despite positive news surrounding Starknet's achievements in Ethereum scaling, the market may have perceived the token unlocks as potentially diluting the value of existing STRK tokens.
• The competition in the Layer-2 scaling space, particularly with Starknet surpassing other networks in transaction speed, might have raised concerns about market share and adoption for STRK.
• Overall, the bearish sentiment in the market for STRK today could be a result of a combination of profit-taking, potential token dilution, and increased competition in the Ethereum scaling sector.

STRK Price Chart

STRK Technical Analysis

STRK News

November Token Unlocks: $2.78 Billion Set to Hit the Market

November Token Unlocks: $2.78 Billion Set to Hit the Market

https://beincrypto.com/november-2024-token-unlocks/

Starknet Sets New Layer-2 Milestone with 857 TPS: A New Era for Ethereum Scaling?

Starknet Sets New Layer-2 Milestone with 857 TPS: A New Era for Ethereum Scaling?

https://crypto-economy.com/starknet-sets-new-layer-2-milestone-with-857-tps-a-new-era-for-ethereum-scaling/

Starknet overtakes Coinbase-backed Base with stress test propelling 857 TPS milestone

Starknet overtakes Coinbase-backed Base with stress test propelling 857 TPS milestone

https://cryptoslate.com/starknet-overtakes-coinbase-backed-base-with-stress-test-propelling-857-tps-milestone/

Starknet Claims to Shatter Transaction Speed Record Among Ethereum Layer-2 Networks

Starknet Claims to Shatter Transaction Speed Record Among Ethereum Layer-2 Networks

https://www.coindesk.com/tech/2024/10/30/starknet-claims-to-shatter-transaction-speed-record-among-ethereum-layer-2-networks/?utm_medium=referral&utm_source=rss&utm_campaign=headlines

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Starknet Price History

11.09.2024 - STRK Crypto was up 5.2%

• The bullish movement in STRK could be attributed to the positive sentiment surrounding altcoins, with the potential sell-off of other tokens.
• The whale buying frenzy sparked by the POPCAT breakout may have spilled over into other altcoins like STRK, driving up demand and prices.
• BlackRock's endorsement of Bitcoin as a 'Gold Alternative' could have boosted overall market confidence in cryptocurrencies, leading to increased investment in tokens like STRK.
• The liquidation of long positions in Starknet resulting in losses may have prompted investors to shift their funds to more promising assets like STRK, contributing to its bullish movement.

12.09.2024 - STRK Crypto was up 5.1%

• The bullish movement of STRK could be attributed to the positive sentiment surrounding the upcoming token unlocks of various projects, indicating potential market liquidity and interest in the crypto space.
• Additionally, the declaration by BlackRock of Bitcoin as a new 'Gold Alternative' might have further boosted investor confidence in cryptocurrencies, including STRK.
• The bearish movement of XRP due to the SEC lawsuit drama may have redirected some investors towards other cryptocurrencies like STRK, seeking more stable investment opportunities in the market.

08.09.2024 - STRK Crypto was down 5.3%

• STRK experienced a strong bearish movement, with the token hitting an all-time low of $0.31 as trading activity plummeted.
• Long positions being liquidated led to a 16% loss for STRK, indicating a significant sell-off in the market.
• The negative sentiment towards STRK could be exacerbated by the overall market trend, as investors may be shifting their focus towards more established cryptocurrencies like Bitcoin, which is being hailed as a new 'gold alternative' by BlackRock.
• The ongoing drama surrounding XRP and its SEC lawsuit may have also contributed to the bearish movement in the cryptocurrency market, creating a sense of uncertainty and volatility that impacted tokens like STRK.

02.10.2024 - STRK Crypto was down 5.4%

• The bearish movement in STRK today could be attributed to profit-taking by investors after a period of strong price performance.
• Despite positive news surrounding Starknet's achievements in Ethereum scaling, the market may have perceived the token unlocks as potentially diluting the value of existing STRK tokens.
• The competition in the Layer-2 scaling space, particularly with Starknet surpassing other networks in transaction speed, might have raised concerns about market share and adoption for STRK.
• Overall, the bearish sentiment in the market for STRK today could be a result of a combination of profit-taking, potential token dilution, and increased competition in the Ethereum scaling sector.

04.09.2024 - STRK Crypto was up 5.6%

• STRK experienced a bullish movement despite trading activity plummeting and the token eyeing an all-time low, indicating strong investor interest.
• Vitalik Buterin's involvement in depositing ETH to Paxos and proposing metrics for 'Ethereum Alignment' may have boosted confidence in the overall cryptocurrency market, positively impacting STRK.
• The upcoming token unlocks worth $3.42 billion could have created a positive sentiment in the market, leading to increased demand for cryptocurrencies like STRK.
• Despite the initial negative news, the overall market sentiment and influential figures like Vitalik Buterin seem to have driven the bullish movement in STRK.

07.09.2024 - STRK Crypto was up 5.8%

• STRK witnessed a significant upward movement despite reports of long positions getting liquidated and a decline in trading activity.
• The surge in buying interest from new investors aiming to benefit from the market dip caused by the liquidations could be a factor behind the price increase.
• Losses and reduced trading activity may have worked as a counter-signal, leading to a bullish rally as traders identified a chance for recovery.
• The bullish uptrend in STRK underlines the volatile nature of cryptocurrency markets and how market sentiment can swiftly change based on perceived value opportunities.

09.09.2024 - STRK Crypto was down 5.4%

• STRK faced a notable bearish movement today, likely as a result of profit-taking following a recent price surge.
• Concerns arose over liquidation of Starknet's long positions, leading to losses, potentially contributing to negative market sentiment within the DeFi sector and impacting STRK.
• Despite the downward trend, BlackRock's statement identifying Bitcoin as a new 'gold alternative' may have redirected focus and investment away from altcoins like STRK.
• The hype surrounding POPCAT and XRP's significant setback due to the SEC lawsuit drama may have overshadowed STRK's performance, leading to a decline in its value.

31.09.2024 - STRK Crypto was down 5.3%

• Despite Starknet's achievement of 857 TPS and advances in Ethereum scaling, the recent bearish movement of STRK indicates investors might have expected more significant developments.
• Intense competition in Layer-2 scaling solutions, with Starknet surpassing Coinbase-backed Base, could have triggered profit-taking and a temporary decline in STRK's value.
• Though Starknet's record-breaking transaction speed claim is noteworthy, market sentiment may have been influenced by broader concerns or external factors affecting the overall cryptocurrency market.

02.09.2024 - STRK Crypto was down 5.6%

• The bearish movement in STRK today could be attributed to the token reaching an all-time low price of $0.31, in addition to a significant drop in trading activity.
• A transfer of 649 ETH to Paxos by an influential figure may have caused attention to shift away from tokens like STRK, impacting its trading volume and price negatively.
• Uncertainty stemming from the upcoming token unlocks valued at $3.42 billion in the market may have led investors to sell off riskier assets like STRK.
• Although STRK saw a recent 30% price increase, prevailing market sentiment and potential profit-taking behavior could also have contributed to today's bearish movement.

14.09.2024 - STRK Crypto was up 5.3%

• The surge in STRK's value may be linked to the optimistic sentiment prevailing in the cryptocurrency market.
• The disclosure of 35 altcoins by Grayscale as potential investment options might have sparked increased interest among investors in altcoins, including STRK.
• The scheduled token unlocks, alluded to in various discussions, may have spurred investors to promptly acquire and retain certain tokens like STRK, thereby boosting its value.
• Expectations surrounding potential token unlocks and the necessity to secure positions before market reactions could have heightened the demand for tokens such as STRK.

17.09.2024 - STRK Crypto was down 5.4%

• The bearish movement in STRK today could be attributed to profit-taking by investors after a recent price surge.
• Vitalik Buterin's ambitious target of 100,000 TPS for Ethereum could have shifted investor focus towards larger cryptocurrencies, leading to a sell-off in smaller tokens like STRK.
• The news of Grayscale considering 35 altcoins for investment products may have diverted attention away from certain existing tokens, impacting their prices negatively.
• The upcoming token unlocks for various projects, including Axie Infinity, might have created uncertainty in the market, prompting traders to be cautious and sell off riskier assets like STRK.

19.09.2024 - STRK Crypto was up 5.2%

• The bullish movement of STRK could be attributed to the positive sentiment surrounding the cryptocurrency market as a whole.
• Vitalik Buterin's ambitious target of 100,000 TPS (Transactions Per Second) and focus on Ethereum ecosystem unity may have boosted investor confidence in cryptocurrencies, including STRK.
• A revelation of considering 35 altcoins for investment products could have sparked interest in alternative cryptocurrencies like STRK.
• Overall, the bullish movement of STRK today could be a result of increased optimism and developments within the cryptocurrency space.