FxWirePro-Token Unlock Tomorrow (Starknet)

Tomorrow, November 15, 2024, Starknet will unlock 64 million STRK tokens, which is about 3.95% of its total circulating supply. This unlock is important because it allows early contributors and investors to access funds that were previously locked away.

Key Details:

Unlock Date: November 15, 2024

Tokens to be Unlocked: 64 million STRK

Current Circulating Supply: About 2.09 billion STRK

Market Value of Tokens: Estimated at around $27.2 million based on the current price

Token Distribution

Early Contributors- 33.56M Tokens (1.67%)

Investors             -     30.43M tokens (1.67%)

Context and Implications:

This unlock is part of a planned release strategy by StarkWare to help prevent a large sell-off by investors. Initially, there was a plan for a much bigger release, but it was changed due to feedback from the community. After this unlock, there will be more monthly releases until the end of 2027, with a total of 580 million tokens expected to be unlocked by the end of this year. Market participants should pay close attention, as these token unlock events can cause price swings and increased trading activity.

STRKUSD support and resistance-

Resistance - $0.50

Support- $0.30