CandleFocus Starknet (STRK) plummets 3% amid broad market surges; here’s why
2024-09-10
Author: Content Editor
The crypto market cap has reached $2 trillion after a 3.18% increase, leading to gains in altcoins. However, Starknet (STRK) has struggled and lost 2.97% in value, possibly due to Three Arrows Capital's bankruptcy proceedings. The insolvent company transferred over 2.07 million STRK tokens to Wintermute for over-the-counter sale, possibly to repay debts. The liquidation proceedings have impacted around 150 creditors, who are claiming $3.4 billion. Starknet's performance may continue to decline, while attention is also on the impact of 3AC's developments on STRK and ARB prices.
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