Starknet (STRK) is facing heavy selling pressure this week as traders brace for a major token unlock event that could further weigh on prices.
📉 STRK Price Slides Ahead of Unlock
At press time, Starknet was trading around $0.127, down nearly 30% over the past week and 4.3% in the past 24 hours. Daily trading volume has dropped 29% to $72.1 million, indicating waning market activity and declining trader interest.
Data from CoinGlass shows a similar trend in the derivatives market:
- Futures volume is down 23% to $154.5 million.
- Open interest has fallen 11.6% to $56.5 million.
These metrics suggest that traders are closing existing positions rather than entering new ones a sign of weakening conviction ahead of increased supply.
💰 $16 Million Token Unlock Adds Selling Pressure
According to Tokenomist, around 120 million STRK tokens (worth approximately $16.15 million) are scheduled to be unlocked, representing about 5.6% of Starknet’s circulating supply.
So far, only 22% of the total 10 billion STRK tokens have been unlocked. The upcoming release could inject additional supply into the market, particularly at a time when sentiment remains fragile.
Historically, token unlocks tend to put downward pressure on price especially when existing liquidity is low and demand remains muted.
Currently, Starknet’s market capitalization sits around $549.9 million, with a fully diluted valuation (FDV) of $1.26 billion. Unless new inflows enter the ecosystem, analysts expect continued short-term weakness as recipients of the newly unlocked tokens take profits or rebalance holdings.
📊 Technical Analysis: Weak Momentum Persists
Technically, Starknet’s chart paints a bearish picture.
- The Relative Strength Index (RSI) is at 45.3, signaling neutral momentum with no clear signs of reversal.
- The MACD and momentum indicators remain negative, suggesting a continuation of the downtrend.
- The Average Directional Index (ADX) sits at 33.4, showing moderate selling strength.
Most short- and medium-term moving averages (10-day to 200-day) hover above the current price, reinforcing the bearish setup.
Key support lies near $0.10, while major resistance sits around $0.175, aligning with the 200-day EMA. A break below $0.10 could push STRK to new local lows, while a rebound above $0.15 would be the first technical sign of recovery.
🧭 The Bottom Line
With market sentiment weakening and a $16 million token unlock on the horizon, Starknet faces growing downside risk in the near term.
Unless significant buying interest or ecosystem catalysts emerge soon, traders may continue to see selling pressure dominate as newly unlocked tokens enter circulation.
Related Reading
- [Starknet Rolls Out Native Bitcoin Staking on Mainnet]
- [Anchorage Digital Launches Institutional Staking for Starknet]
