StarkNet [STRK] activity bulges: Are traders bracing for a public launch

StarkNet [STRK] activity bulges: Are traders bracing for a public launch

April 10, 2023

By Victor Olanrewaju

Realistic or not, here’s ETH’s market cap in ARB’s terms

The number of active addresses on the StarkNet network increased by 1168% in the last 30 days.

StarkNet foundation remained undecided on how to distribute rewards, but traders have positioned themselves.

Since StarkNet [STRK] deployed its token on the Ethereum [ETH] Mainnet, there has been an incredible amount of focus on the ecosystem. Although the tokens are not yet up for sale or public trading, contributions within the StarkNet network have been on a non-stop increase.

According to Token Terminal, StarkNet’s active addresses were over 55,000 at press time. Active addresses represent the number of distinct users interacting with a project. This hike infers that the addresses had increased by 31.3% in the last seven days. And, in the last 30 days, this constituted a 1168.7% increase.

Taking steps toward the compensation for input

This rise implies that the crypto community views StarkNet as one of the most promising projects. Moreover, the buzz around the Ethereum scaling solution could also be connected to the distribution of a possible incentive by the StarkNet Foundation.

StarkNet prides itself on a platform that can significantly increase the speed and efficiency of transactions on the Ethereum network. Certainly, there are projects already engaged in this, like Arbitrum [ARB] and Optimism [OP].

But the focus is on StarkNet because many traders and investors are eagerly anticipating rewards for being early adopters like Arbitrum and Aptos [APT] did. In fact, a few weeks back, a lot of users engaged in bridging tokens on the StarkNet network less than 24 hours after the Arbitrum AirDrop. Hence, this hike means that the enthusiasm for the rewards remains high.