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Starknet’s native token, STRK, saw a remarkable rise after being listed on Binance yesterday, quickly reaching a high of $3.66 in less than an hour.
However, since then, STRK’s price has fallen over 50%, highlighting the volatile nature of newly-listed altcoins.
With the Bitcoin Minetrix (BTCMTX) presale ending soon, many crypto enthusiasts are wondering whether this promising new project could follow in Starknet’s footsteps and obtain a Binance listing next.
STRK’s Debut on Binance Sparks Sharp Rise Then Fall
STRK made its long-awaited exchange debut yesterday, immediately sparking a frenzy of interest from crypto traders.
In the first hour of trading, STRK’s value surged 31% – giving the token a market cap of over $2.4 billion.
The hype around Starknet’s technology and future potential fueled this rapid rise.
However, as is seen often in the crypto market, such vertical climbs are rarely sustainable.
Profit-taking has kicked in, and since yesterday’s peak, STRK’s value has plunged by over 50%, wiping out almost $1.2 billion from its market cap.
While disappointing for those who bought the top, this cool-off represents another opportunity to purchase STRK at a low price.
Crypto analyst VIKTOR, who has over 32,000 followers on Twitter, stated that “a long at $1 could be a good idea,” suggesting that he sees STRK dropping slightly lower before surging once more.
Ultimately, given the token’s fundamentals and Starknet’s strong tech, this volatility may end up being viewed as a brief period of turbulence in STRK’s much longer journey.
Starknet Seeks to Be Leading Layer-2 Scaling Solution for Ethereum
Simply put, Starknet is a layer-2 scaling solution that operates on top of Ethereum’s base layer, helping ease network congestion and reduce transaction fees.
Starknet relies on an advanced cryptographic proof system called STARK proofs to validate bundles of transactions off of the main Ethereum chain.
By compressing computational data into efficient zero-knowledge proofs, Starknet can process thousands of transactions per second with Ethereum-level security.
Unlike rollup-based layer-2s, Starknet is optimized for general-purpose use – not just payments.
This flexibility makes it appealing for developers to build dApps spanning DeFi, NFTs, gaming, and more.
Additionally, Starknet uses a custom programming language called Cairo that is purpose-built for generating STARK proofs.
With super-fast transaction speeds, low fees, and improved usability, many believe Starknet is establishing a new standard for blockchain scaling solutions.
Bitcoin Minetrix Presale Success Fuels Speculation of Binance Listing
With the recent rise and fall of STRK showing the potential impact of major exchange listings, the crypto community is wondering which project could be next to earn a top-tier listing.
All eyes are turning to Bitcoin Minetrix, an innovative crypto platform currently in presale that combines staking rewards with BTC mining.
Bitcoin Minetrix allows holders to stake their tokens to passively generate “mining credits.”
These credits can then be redeemed to tap into Bitcoin Minetrix’s cloud mining power and mine Bitcoin at a profit.
In turn, this creates a positive feedback loop between staking and mining.
Bitcoin Minetrix also offers up to 60% APY for holding and staking the token.
Propelled by these incentives, Bitcoin Minetrix’s presale has already raised over $11.2 million, with investors able to buy the BTCMTX token at a discounted rate of $0.0136.
With presale success mirroring the buzz around Starknet, rumors are swirling whether Bitcoin Minetrix could also obtain a top-tier listing like Binance once its presale ends.
The developers have mentioned on the project’s roadmap that exchange listings are in the pipeline, but no specifics have been revealed yet.
If Bitcoin Minetrix does get listed on a platform like Binance, early members of the project’s Telegram community believe it could spark the next viral altcoin run in the crypto market.
Visit Bitcoin Minetrix Presale
Source: https://finbold.com/starknet-price-falls-50-but-could-this-new-altcoin-list-on-binance-next/