STRK ripped 122% from October 8 to 11, closed at $0.1232 and is up 210% in four weeks. The fuel: Starknet said it is actively considering dropping its Ethereum Layer 2 role and becoming a Layer 1. Then the crowd piled in at the top, and now the chart is bleeding.
▪️ Oct 8: Starknet says it is considering becoming its own Layer 1 instead of staying an Ethereum L2, with full quantum resistance planned by 2027 thrown in as a bonus. Nice sales pitch.
▪️ Oct 8 social sentiment was still -0.51. Then it flipped as the pump picked up speed and hit +12.44 on Oct 11, the highest reading of the whole move.
▪️ Peak day: 2,823 active addresses and 1,166 new wallets, about 13x the recent average for new wallets. Everyone arrived late to the party, as usual.
▪️ By Oct 13: active addresses down 63%, new wallets down 81%, price down almost 30%. Classic retail exit at the worst possible moment.
▪️ Meanwhile the 10 largest addresses hold around 7.09 billion STRK, their highest combined balance since April. Whales loading up while the herd runs.
▪️ Next catalyst: around 127 million STRK unlocks on October 15, nearly 1.7% of circulating supply. Someone is about to get a lot of fresh coins to dump on you.
📊 Oct 13 new wallets vs peak:
-81%📊 Top 10 addresses balance:
~7.09B STRKYou bought an L1 story, but Starknet has not confirmed it will move away from its current setup. So you bought a maybe, at a premium. Sentiment cooled, activity fell, and a 127M STRK unlock lands on October 15. Right now the only thing holding this up is big wallets quietly accumulating.
💬 «We're considering multiple options, including becoming an L1.» — Eli Ben-Sasson
🔮 Pumped on a 'maybe', and the only ones still buying are the whales. Who's holding the bag this time? You already know.
@mxcenglish
