Sarcastic Post from Solana Toward Starknet

In a post shared from Solana’s official X account, attention was drawn to Starknet maintaining a billion-dollar market capitalization despite having very low daily active users and transaction counts:

“Starknet has 8 daily active users, 10 daily transactions, and yet somehow has a $1B market cap and $15B in perpetuals volume.
LMFAOOOOOOOOOOOOOOO
Straight to zero.”

This post refers to on-chain data from 2024, highlighting that Starknet’s daily user and transaction numbers were extremely limited at the time. The message uses a sarcastic tone to emphasize the gap between high valuations and low usage activity.

Reactions from the Crypto Community

Solana’s sarcastic post drew various reactions from prominent crypto projects and industry figures, including Bubblemaps, MegaETH, and Pump.fun co-founder Alon Cohen. Investors and analysts interpreted Solana’s remarks both as a critical warning and as an example of attention-grabbing humor on social media.

The team behind Solana’s official X account is known for its direct and transparent commentary. Previously, the team has actively participated in competitive claims and discussions involving Ripple and XRP, standing out for expressing opinions boldly and unapologetically within the crypto community. This approach often resonates widely and shows that Solana’s social media strategy aims not only to inform but also to influence market psychology.

Market and Analysis Perspective

Solana’s criticism of Starknet has sparked a broader discussion within the crypto ecosystem about imbalances between high valuations and low user activity. Analysts emphasize that while such sarcastic remarks can increase project visibility, investors should carefully evaluate on-chain data and maintain a cautious approach. Solana’s mockery of Starknet highlights ongoing debates around competition and data transparency in the crypto world. Investors can make more informed decisions by comparing a project’s market capitalization with its daily active users and transaction counts.

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The post Solana Made a Notable Criticism of Starknet! appeared first on Coin Engineer.

What Is Layer 2 (L2)?

Layer 2 refers to any off-chain network, system, or technology built on top of a blockchain (commonly known as a layer-1 network) that enhances the capabilities of the underlying base layer network. Layer 2 networks offer improvements such as higher transaction throughput. A core requirement for a network, system, or technology to be considered Layer 2 is that it inherits the security of the blockchain it is built upon. Transaction data must be verified and confirmed by the underlying blockchain network, not a separate set of nodes. For example, sidechains are often not considered Layer 2 because they typically deploy their own consensus mechanisms and validators, resulting in different security guarantees than the base layer chain.

For blockchains that prioritize decentralization and security over scalability, Layer 2 solutions provide greater transaction throughput, which can lead to lower fees. Layer 2 is seen as a solution to scalability challenges, enabling fast and scalable transactions without compromising decentralization or security.

Top Layer 2 (L2) Coins by Market Cap

Below is a list of the top Layer 2 coins ranked by market capitalization, along with brief details about each project:

1. Mantle (MNT) Mantle is a Layer 2 solution designed to scale Ethereum. It offers fast and low-cost transactions, providing developers with a high-performance platform. Its modular architecture stands out.
2. Arbitrum (ARB) Arbitrum is an Ethereum-based Layer 2 solution that utilizes optimistic rollup technology. It is popular for decentralized applications due to its low transaction fees and high throughput.
3. POL (ex-MATIC) POL (formerly MATIC) is the native token of the Polygon network, designed to enhance Ethereum’s scalability. It supports a broad ecosystem with fast transactions and low costs.
4. Optimism (OP) Optimism is another optimistic rollup solution that boosts Ethereum’s scalability. It provides developers and users with an efficient experience through low-cost transactions.
5. Stacks (STX) Stacks is a Layer 2 solution that adds smart contract and decentralized application support to the Bitcoin blockchain. It leverages Bitcoin’s security to develop innovative applications.
6. Immutable (IMX) Immutable X is an Ethereum-based Layer 2 solution focused on NFTs and gaming. It offers fast and secure transactions with zero gas fees.
7. Starknet (STRK) Starknet is a Layer 2 network that scales Ethereum using zero-knowledge (ZK) rollup technology. It provides high security and low transaction costs.
8. ZKsync (ZK) ZKsync enhances Ethereum’s scalability with zero-knowledge technology. It offers fast, secure, and low-cost transactions on a user-friendly platform.
9. Wrapped Ether (Mantle Bridge) (WETH) Wrapped Ether (WETH) is a tokenized version of Ethereum used within the Mantle network. It facilitates liquidity and seamless transactions in Mantle’s Layer 2 ecosystem.
10. Movement (MOVE) Movement is an Ethereum-based Layer 2 solution that delivers high-performance data transfer and transaction speed. It stands out with its innovative technologies.

Layer 2 solutions address blockchain scalability issues, offering faster, more cost-effective, and secure transactions. Ranked by market cap, these projects enhance the potential of leading networks like Ethereum and Bitcoin, shaping the future of the decentralized ecosystem. These coins continue to provide innovative opportunities for both developers and users.

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STRK Price Analysis:

According to CoinMarketCap’s data STRK has rose over 22% and currently trading at $2.1. In last 7 days Starknet has risen 11% and countinued to rise even more today.

Looking at current levels, we see that the next resistance in Starknet is at $ 2.45. However, if Starknet manages to exceed these levels, the next target is at $ 2.64. Starknet’s support zone seems to be at $ 2.1.

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The post Starknet Rose Over 20% appeared first on Coin Engineer.

One of the tactics that cryptocurrency investors have recently been using to earn income from airdrops is creating multiple wallets, which was also seen in the Starknet airdrop. On-chain data shows that a person who created 1361 wallets was entitled to receive 1,482,800 STRK tokens.

This person then transferred all of the tokens they received from the 1361 wallets to the account “0x027c…9078”.

According to information provided by Lookonchain, another person created approximately 1800 wallets and received 1.22 million STRK tokens worth $2.4 million.

On the other hand, it is seen that many large whales and investors using this multiple wallet tactic have also been selling since yesterday. The STRK token price has fallen by more than 55% in the last 24 hours.

Data shows that Nethermind, a node operator on Lido, sold 954,000 STRK tokens for $2.4 each. The token price had risen above $7.5 on the Binance exchange yesterday.

As of the time of writing, the STRK token is trading at $1.96.

The post Person Who Created 1361 Addresses for Airdrop Earns $3 Million in Starknet (STRK) appeared first on Coin Engineer.

Binance Lists STRK

• Four trading pairs available: STRK/BTC, STRK/USDT, STRK/FDUSD, and STRK/TRY.
• Deposits start at 12:00 UTC, trading at 13:00 UTC.
• Seed tag applied, indicating potential volatility.

STRK Distribution for Binance ETH Stakers

• Eligible users who staked ETH on Binance receive STRK based on their BETH balances on September 15th, 2022.
• Check your eligibility on the Provisions portal.
• Distribution within 30 days of the Starknet Provisions Program launch.

Starknet (STRK) Ecosystem Heats Up

• Other exchanges like OKX, KuCoin, and Bybit are also listing STRK.
• Market expects $0.80 initial price, but OTC trading suggests higher, around $2.

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