StarkNet’s native cryptocurrency STRK has registered an 11% surge in its price in the last 24 hours moving all the way to $2.10. This comes as a major relief for StarkNet as the altcoin faced huge selling pressure after the STRK token airdrop.
The recent STRK price rally is that StarkWare, the blockchain company behind the Layer 2 scalability protocol Starknet, has adjusted the token release structure for its token STRK.
StarkWare Undertakes Gradual Unlocking of STRK Tokens
According to an official statement, StarkWare has decided to implement a more gradual unlocking process for STRK. In response to concerns raised by users, the company has reduced the initial token release from 13.4% to 0.64%. This adjustment aims to address feedback suggesting that releasing a large portion of tokens to a select few at launch could be perceived as “predatory”.
StarkWare clarified that tokens held by early contributors and investors of StarkNet are under a lockup period. These parties played a
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