The protocol's total diluted market capitalization has since surpassed $20 billion.
High demand in the much anticipated Ethereum layer-2 solution Starknet airdrop has caused the protocol’s fully diluted market cap to surpass $20 billion despite controversies.
On Feb. 20, Starknet developers allocated approximately 700 million STRK tokens out of a total supply of 10 billion to reward Ethereum solo and liquid stakes, Starknet developers, and users, as well as projects and developers from outside the Web3 ecosystem. Within the first 90 minutes, 45 million STRK tokens were claimed and have since surpassed 220 million.
Users have until June 20, 2024, to claim the remaining balance. Despite investor enthusiasm, however, the price of STRK tokens has since fallen to $2 compared to its opening high price of $7 on the crypto exchange Binance, albeit the protocol still holds a high valuation. Currently, the protocol has a total value locked of $57 million.
