Trading activity is surging on STRK’s perpetual futures market as Starknet prepares for the highly anticipated STRK token airdrop on February 20th.
Expectations of the airdrop have led to heightened volatility in STRK-USD futures trading. STRK’s current average price is hovering around $1.78, reflecting a subtle 24-hour price decline of 1.14%.
Despite this slight downward trend, market sentiment does not appear to have weakened, as evidenced by the previous day’s buy/sell volume ratio, where buy orders outnumber sell orders by 55% to 45%. This could suggest that traders are optimistic about STRK’s prospects post-airdrop.
Open interest of over $750,000 for the STRK-USD pair indicates positive participation from traders holding positions in anticipation of price movements due to the airdrop. Open interest in STRK futures refers to the total number of contracts currently active or open in the market.
Starknet Foundation is an Ethereum layer 2 scaling solution. that much STRK token airdrop It starts on February 20th and runs until June 20th. Over 700 million tokens will be distributed to many participants, including Starknet users, Ethereum stakers, and open source developers other than Web3.
Approximately 1.3 million wallets will benefit from this initiative, leading to a total allocation of 1.8 billion STRK tokens. Ethereum stakers and developers not previously affiliated with Starknet are also eligible for this airdrop.