Crypto Projects Unleash Millions in Tokens Amid Ongoing Market Volatility
Starknet, an Ethereum Layer 2 that leverages zk-STARKs technology to speed up transactions and reduce costs, has unlocked nearly 10% of its circulating supply. Specifically, the project released 130 million tokens, valued at approximately $3.61 million. This is part of Starknet's token release curve.
The unlock amount for YZY (Kanye West's token) was significantly lower, with only 29.17 million tokens unlocked, worth around $8.4 million. Arbitrum, an Ethereum Rollup designed to improve scalability by aggregating transactions off-chain, released 96.84 million tokens, valued at about $13.17 million.
ZKsync, a Layer 2 scaling solution developed by Matter Labs that utilizes succinct zero-knowledge proofs, unlocked 170 million tokens, worth approximately $1.65 million. Lastly, LayerZero, an omnichain interoperability protocol for cross-chain messaging, released 25.83 million tokens, valued at about $26.09 million.