Vitalik Buterin, the co-founder of Ethereum, has shown a keen interest in Starknet since the beginning and has unlocked 1.268 million STRK tokens from the LockedTokenGrant. This transaction occurred today at 13:15 UTC+8. As reported by WuBlockchain, the unlocked token is worth around $470,000.
Vitalik Buterin: 0x22…3A9D unlocked 1.268m STRK from the Starknet LockedTokenGrant contract at 13:15 UTC+8 today, worth about $470,000. Vitalik Buterin currently holds a total of 2.113m STRK, worth about $781,000, which is his most valuable token besides ETH. Vitalik Buterin is…
— Wu Blockchain (@WuBlockchain) September 4, 2024
According to Arkham Intelligence, Buterin’s total STRK token holdings are $2.113 M STRK, which is worth $814. 77 K, with STRK at $0.3835. After this transaction, STRK now ranks as his second-largest token holding after Ethereum (ETH).
Starknet (STRK) Might See a Significant Price Increase
Starknet is a Layer 2 (L2) blockchain built on top of Ethereum. It uses the ZK roll-up technique to verify transactions across the blockchain and has successfully increased Ethereum’s scalability and usability. Buterin, an early investor in Starknet, has played a significant role in the project’s growth, as his endorsement of Starknet lent credibility and attracted attention from the crypto community.
As many investors watch over every step that Buterin takes, this unlocking of the STRK token will increase their interest in STRK. In May 2024, Buterin unlocked and received 845,205 STRK from the Locked Token Grant contract, which was valued at approximately $1.07 million. This move caused the price of Starknet to increase notably.
The same pattern can be observed this time around. Currently, at press time, STRK is trading at $0.3835 with a 24-hour trading volume of $53,899,599. This represents a 2.84% price increase in the last 24 hours. This clearly shows that the value of STRK increased as soon as the tokens were unlocked.
How would the tokens be used?
Now that the tokens have been unlocked, they can be used for various purposes, including further development of the project, which could include broader recognition of Starknet’s potential to address Ethereum’s scalability issues, developmental support for projects that encourage innovation and growth, or personal use, which might include asset diversification.
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Source: https://www.cryptonewsz.com/vitalik-buterin-unlock-starknet-token-for-469k/