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Starknet Price Prediction 2024: STRK Price Analysis

Last Updated July 5, 2024 1:17 PM
Valdrin Tahiri
Last Updated July 5, 2024 1:17 PM
By Valdrin Tahiri
Verified by Peter Henn

Key Takeaways

  • Starknet’s STRK token made its debut on the market on February 20, 2024.
  • Since then, the STRK price has fallen significantly, reaching a new all-time low on July 5.
  • Our price predictions suggest Starknet will begin an upward movement soon.

Starknet’s STRK token has witnessed a substantial price plunge since its February 20 launch, plummeting from a peak of $4 to under $0.50 after an airdrop to select blockchain users.

Notably, sales by Ethereum infrastructure firm Nethermind and airdrop hunters, who offloaded millions of dollars’ worth of the token, were observed, as reported by blockchain analysts Lookonchain . However, the Starknet price has fallen since its launch.

Starknet did not respond to a request for comment.

Now, let’s take a look at our own Starknet price prediction, made on July 5 2024. We will also examine the Starknet price history, and talk a little about what Starknet is and what it does. 

Starknet Price Prediction 

There are two methods used to create our Starknet price predictions. More specifically predictions are created using fractals (mirroring movements and indicator readings) and the wave count.

However, since Starknet only has price history going back to February 2024, only the wave count method will be used. 20% will be added to the targets to end up with our maximum and minimum Starknet price predictions.

Minimum Starknet Price Prediction Average Starknet Price Prediction Maximum Starknet Price Prediction
2024 $1.46 $1.83 $2.20
2025 $1.31 $1.64 $1.97
2030 $1.02 $1.13 $2.24

The most likely wave count suggests that STRK started a five-wave downward movement in March. If the count is accurate, STRK is currently in the fifth and final wave of this downward movement. If the coutn is accurate, there are two reasons that suggest the bottom will be reached soon or has already been reached.

Firstly, Starknet’s wave five has had the same length as wave one, and secondly, the price is in the middle of a descending parallel channel containing the entire movement.

If this is the case, the STRK price can then begin an upward correction that has the same length as the preceding decrease. This gives a target of $1.82 for October 2024.

The data is insufficient to make long-term price predictions afterward, because it is possible that the increase will be an A-B-C structure or a five-wave increase. Which one happens will have significant implications for the future trend.

Starknet Price Prediction 2024
STRK/USDT Weekly Chart | Credit: Valdrin Tahiri/TradingView

So, we will use the rate of increase/decrease since launch to make a Starknet prediction for the end of 2024, 2025 and 2030. Since this prediction uses the rate of change that is dependent on another prediction, it is derivative, hence being even more speculative.

Since its launch in February until the predicted high in October, STRK is projected to decrease by 5% in 250 days. This leads to a rate of decline of 0.02% per day. Using this rate of decrease leads to Starknet price predictions of $1.83, $1.64 and $1.13 for 2024, 2025 and 2030, respectively.

Starknet Price Prediction for 2024

Our Starknet price prediction for the end of 2024 leads to an average price target of $1.83.

Starknet Price Prediction for 2025

Our Starknet price prediction for the end of 2024 leads to an average price target of $1.64.

Starknet Price Prediction for 2030

Our Starknet price prediction for the end of 2030 leads to an average price target of $1.13.

Starknet Price Analysis

The daily time frame Starknet price forecast suggests a bounce can happen soon. This is because the price could be nearing the end of wave five and trades in the middle of a descending parallel channel.

Furthermore, the daily MACD has generated a bullish divergence (green) while the daily RSI is at an all-time low. As a result, it is possible that STRK will begin a bounce soon, increasing toward the channel’s resistance trend line.

STRK Price Analysis
STRK/USDT Daily Chart | Credit: Valdrin Tahiri/TradingView

Conversely, breaking down below the channel’s midline will indicate the trend is still bearish.

Short-Term Starknet Price Prediction

The Starknet price prediction for the next 24 hours is based on the assumption that the Starknet price will reach a bottom inside the channel’s midline soon. If this is the case, the Starknet price prediction for the next 24 hours will be neutral, with STRK likely trading close to the channel’s midline at $0.48.

Starknet Short-Term Prediction
STRK/USDT Daily Chart | Credit: Valdrin Tahiri/TradingView

Then, a potential boucne toward the channel’s resistance trend line will make the Starknet price prediction for next week bullish.

Starknet Fear & Greed Index

The Fear & Greed Index measures the market sentiment on a scale from 0 (Extreme Fear) to 100 (Extreme Greed). It aggregates factors such as volatility, market momentum/volume, social media activity, dominance, and trends to provide a sentiment overview.

Extreme fear can suggest investors are overly worried, potentially presenting a buying opportunity, whereas extreme greed indicates excessive bullishness, often signaling an imminent market correction. On July 5, 2024, the Fear & Greed Index measured 29, reflecting fear.

Starnket Average True Range

The Average True Range (ATR) measures market volatility by averaging the largest of three values: the current high minus the current low, the absolute value of the current high minus the previous close, and the absolute value of the current low minus the previous close over a period, typically 14 days.

A rising ATR indicates increasing volatility, while a falling ATR indicates decreasing volatility. Since ATR values can be higher for higher-priced assets, normalize ATR by dividing it by the asset price to compare volatility across different price levels.

Starknet Average True Range
Weekly ATR | Credit: TradingView

On July 5, 2024, Starknet’s daily ATR was 0.07, implying low volatility. The ATR has declined since March. As a ratio of the price, the ATR is at 0.14.

Starknet Relative Strength

The Relative Strength Index (RSI) is a momentum indicator traders use to determine whether an asset is overbought or oversold. Movements above 70 and 30 show overbought and oversold conditions, respectively. Movements above and below the 50 line also indicate if the trend is bullish or bearish.

Weekly Relative Strength Index
Weekly RSI | Credit: Valdrin Tahiri

On July 5, 2024, the Starknet’s daily RSI was at an all-time low of 21. While this is deep into oversold territory, there is no bullish divergence in place.=.

Starknet Market Cap to TVL Ratio

The Total Value Locked (TVL) to market cap ratio (TVL ratio)   measures the valuation of a decentralized finance (DeFi) project by comparing its market capitalization to the total value of assets locked in its smart contracts. This ratio shows the project’s utilization and links the platform’s health to the value of locked assets.

Starknet Market Cap to TVL
Market Cap to TVL | Credit: DeFiLlama

A ratio above 1.0 indicates overvaluation because the market cap exceeds the value of assets used in the platform. A ratio below 1.0 indicates undervaluation because the market cap is lower than the value of locked assets. On July 5, 2024, the Starknet Market Cap to TVL ratio was 2.7, indicating significant overvaluation.

Starnket Price Performance Comparison

Starknet is an Ethereum Layer-2 rollout, so let’s compare it with other similar projects.

Current Price One Year Ago Price Change
Starknet $0.49 $1.39 (one month ago) -64%
Arbitrum $0.61 $1.08 -45%
Immutable X $1.25 $0.70 70%
Polygon $0.45 $0.66 -33%

STRK Price History

Let’s now take a look at some of the highlights and lowlights of the Starknet token price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting an STRK price prediction. 

When STRK first came onto the open market on February 20, 2024, it was worth $2.66. However, it has fallen sine its launch, culminating with a new all-time low price of $0.49 today on July 5.

Starknet Price History
Starknet Price History | Credit: CoinGecko
Period Starknet Price
Today (July 5, 2024) $0.49
Last Week (June 28, 2024) $0.70
Last Month (June 5, 2024) $1.30
Three Months Ago (April 5, 2024) $1.92
One Year Ago (July 5, 2023) NA
Launch price (February 20, 2024) $2.70
All-time high (February 20, 2024) $2.70
All-time low (July 5, 2024) $0.46

Starknet Market Cap

The market capitalization, or market cap, is the sum of the total number of STRK in circulation multiplied by its price. On July 5, 2024, Starknet’s market cap was $639 million, making it the #103rd largest crypto by that metric.

Starknet Market Cap
Starknet Market Cap | Credit: CoinGecko

Who Owns the Most Starknet (STRK) Tokens?

As of July 5, 2024, the five wallets with the most Starknet tokens  were

  • 0x1521f00f0d805b4aefc518d163f7ab84e4dfd68c. This wallet held 2,500,000,000 STRK, or 25.00% of the supply.
  • 0x10e5756a27486e4f495b438f4b0b627ee4abbf0f. This wallet held 1,298,632,247 STRK, or 12.98% of the supply.
  • 0xa6c4c9a021a7fe60986c197c1236545d3c04c25b. This wallet held 945,782,406 STRK, or 9.46% of the supply.
  • 0xce5485cfb26914c5dce00b9baf0580364dafc7a4. This wallet held 648,760,778 STRK, or 6.49% of the supply.
  • 0x798425cb26cb41016d2db92289234ba81dc2dab0. This wallet held 206,705,075 STRK, or 2.07% of the supply.

Starknet Supply and Distribution

Supply and distribution Figures
Total supply 10,000,000,000
Circulating supply as of July 5, 2024 1,300,000,000 (13% of total supply)
Holder distribution as of July 5, 2024 Top 10 holders owned 62.71% of supply

Is Starknet a Good Investment?

It is hard to say. The Starknet token has dropped since its launch in the second half of February 2024. On the horizon, there’s no clear bullish or bearish sign.

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in STRK.

Will Starknet go up or down?

No one can really tell right now. Because of insufficient data, our Starknet token price predictions for 2024, 2025 and 2030 are more speculative. 

Should I invest in Starknet?

Before you decide whether or not to invest in Starknet, you will have to do your own research, not only on STRK, but on other, related, coins and tokens. Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Starknet (STRK) Explained

It is a permissionless decentralized Layer 2 validity rollup, built to allow Ethereum to scale via cryptographic protocols called STARKs, without compromising Ethereum’s core principles of decentralization, transparency, inclusivity, and security.

Starknet was developed by StarkWare Industries, an Israeli tech company founded in 2018 by Eli Ben-Sasson, Uri Kolodny, Michael Riabzev, and Alessandro Chiesa.

The Starknet token is needed to operate the ecosystem, maintain and secure it, decide on its values and strategic goals, and direct its evolution. This token will be required for governance, payment of transaction fees on Starknet, and participation in Starknet’s consensus mechanism.

How STRK Works

The Starknet token is the mechanism for paying fees to enable operation of the network, maintaining and securing the network by enabling staking for consensus, and deciding on Starknet’s values and technology goals by voting for governance proposals.

 

FAQs 

How many STRK coins are there?

As of July 5, 2024, there were 1.3 billion STRK in circulation, out of a total supply of 10 billion.

Will STRK reach $10?

Our long-term price predictions suggest Starknet will not reach $10 in the near future.

What is Starknet?

Starknet is a permissionless decentralized Layer 2 validity rollup, built to allow Ethereum to scale via cryptographic protocols called STARKs, without compromising Ethereum’s core principles of decentralization, transparency, inclusivity, and security.

The Starknet token is needed to operate the ecosystem, maintain and secure it, decide on its values and strategic goals, and direct its evolution. This token will be required for governance, payment of transaction fees on Starknet, and participation in Starknet’s consensus mechanism.

 

Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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