Following the hype of the Ethereum Airdrop, Starknet’s activity has fallen significantly

After Starknet saw an increase in wallet addresses around last week's weather announcement, the number has dropped significantly in recent days as the actual fall approaches.

Starknet's airdrop dominated the headlines last week, not least because of the large scale of the drop, but also because of the frustration some community members felt after the finer details were leaked. Starknet is set to go live tomorrow, February 20th, and will distribute almost all of the STRK tokens. 1.3 million eligible wallets.

Last week's news resulted in a significant increase in active addresses on Starknet, jumping from less than 20,000 addresses on February 9th to a peak of 226,576 addresses on February 14th.

The daily total now, five days after the announcement, is set in the area 70,000 According to the data obtained by Starscan browser. And while last week's increase was a larger-than-average increase, Starknet has previously seen a daily peak—about 386,000 active wallets on July 28, 2023.

Trading volume increased last week but has returned to normal levels. February 14 was the network's peak day last month with more than $122 million worth of transactions, but that number has halved since yesterday, with less than $61 million worth on February 18 – the most common day in StarScan data.

During the near-term inflows and outflows of active wallets, the total value of assets locked on Starknet remains relatively unchanged. Depilama On the day of the announcement, the protocol reported a total value locked (TVL) of $55.26 million. Today it sits at 54.35 million dollars.

While many community members opposed the airdrop requirement, many did not seem to put their money where their mouths were and abandon the protocol.

A key point of contention in the airdrop announcement is the token unlock program, which rewards team members two months after the token goes live. Crypto projects often have very long timelines for group token coverage – sometimes years after launch. Starkware CEO Eli Ben-Sasson denied the complaints in an interview with The Week Decrypt.

“Opening up to the team and early investors … is one aspect where we can be informal,” Ben-Sasson said. But we build differently and see things a little differently.

Starknet has been the most anticipated airdrop on Crypto Twitter for months. The drop in active addresses may reflect airdrop farmers who were banking on the token distribution, but eventually moved on to greener pastures – namely chains that have yet to release their tokens.

Edited by Andrew Hayward.