• Coinstack
  • Posts
  • Starknet’s Native Token STRK Launched 🚀

Starknet’s Native Token STRK Launched 🚀

Airdrop claims for Starknet’s token distribution indlude more than 700 million STRK — or 7% of the 10B total supply. Plus the top news, stats, fundraises, and reports from this week.

Social Links: Twitter | Telegram | Newsletter

Issue Summary: Welcome back to Coinstack, the weekly newsletter for institutional crypto investors and industry insiders. We review the top news, stats, and reports in the digital asset ecosystem for our 250k weekly subscribers.

Price performance since we began writing Coinstack in January 2021

Published by Coinstack Partners

Coinstack Partners helps crypto/web3 companies raise funding from crypto venture capital firms and family offices for Series Seed/A/B/C rounds of $1M to $50M. The firm has relationships and access to all of the top 300 crypto venture capital firms across North America, Asia, and Europe. To discuss venture capital fundraising services for your company, please review our deck and schedule a free consultation.

Thanks to Our 2023 Coinstack Sponsors…

Amphibian Capital is a market/delta neutral fund of the world's leading crypto funds, returning approximately 14.43% net for '23, 195%+ net (pro-forma) since '19 and aim to deeply mitigate downside. Amphibian offers BTC, ETH and USD share classes. Deck here: www.amphibiancapital.com

Become a Coinstack Sponsor

To reach our weekly audience of 250,000 crypto insiders and daily audience of 60,000 subscribers, view our sponsor deck and schedule a call to discuss sponsoring Coinstack. We’re filling up our 2024 sponsor slots now.

💵 Weekly Crypto Fundraises & Deals

Here are all the crypto fundraises we heard about this week, ranked by size…

🗞️ Crypto News Recap: The Top 5 Stories

Welcome back to This Week in Crypto… everything you need to know in one scannable format. Here are the top 5 stories of the week… 

  1. 🚀 Starknet token begins trading on exchanges: Starknet’s native token STRK is set to begin trading on centralized exchanges later on Tuesday following the opening of distribution claims for nearly 1.3 million wallets.

  1. 🎭 FixedFloat appears to have been exploited for $26.1 million in bitcoin, ether: Crypto exchange FixedFloat appears to have been exploited for $26.1 million in bitcoin and ether, according to on-chain data. Since the unexpected fund movements, the exchange has been put into maintenance mode and remains down.

  1. ⚖️ FTX creditors file class action against bankruptcy lawyers over ties to FTX prior to its collapse: FTX’s bankruptcy law firm Sullivan and Cromwell is facing a class action that alleges it was so closely involved with the exchange prior to its collapse that it should be held partially responsible for its actions.

  1. ⚖️ Celsius distributed $2 billion of crypto to creditors, court document shows: Celsius, the crypto lender that filed for bankruptcy in 2022, said in a court document filed Friday that it has distributed most of the crypto owed to its creditors. Celsius started the process at the end of January, and is on track to distribute $3 billion worth of crypto, it previously said.

  1. 🚀Aptos and Jambo partner to empower emerging markets via web3 phone: The Aptos Foundation announced a partnership with Jambo Technology, a web3 developer for African markets, on Thursday. 

Coinstack Daily

We’re launching a new daily edition Coinstack that covers all the day’s news and funding announcements. If you’d like to join our daily edition, subscribe here.

💬 Tweet of the Week

Source: @TiffanyFong_

📊 Key Stats of the Week

Here are the most important and interesting stats in crypto this week...

1. Sui 2x’s the TVL of Move competitor Aptos in 2024, reaching nearly $669M 

Source: @OurNetwork

2. Pontem’s LiquidSwap crosses $33M TVL, approaches $11M weekly swap volume

Source: @OurNetwork

3. Sui has faciliated over $18.7M in NFT volume all-time by current SUI prices, Fuddies project contributes ~32% of that having driven ~3.4M in SUI

Source: @OurNetwork

4. A nice weekend for EigenLayer to flip Aave, becoming the third largest protocol on Ethereum in terms of TVL, with now more than $7.1B on their platform.

Source: @DavidShuttleworth

5. Over 220M tokens claimed STRK


6. Top Moving Coins From the Top 100

📝 Highlights from the Top Crypto Reports

Here are the top highlights from the best crypto research reports this week…

About the Author: Reflexivity Research, is on a mission is to bridge traditional finance into digital assets through our crypto native research. This is an excerpt from the full article, which you can find here.

Major developments for the week:

  • Bitcoin ETF products saw total net inflows of $2.27 billion last week 

  • Michael Saylor's MicroStrategy has seen its Bitcoin investment exceeds $4 billion in profits

  • Bitcoin futures market starting to heat up, although far from levels reached during the peak of 2021

  • Bitcoin CME Futures Open Interest reach $6.7 billion, marking new all time highs, as Ethereum CME futures open Interest hits $1 billion for the first time in over two years 

  • Apecoin's 'ApeChain' will be powered by Arbitrum, following a majority vote of 50.35% that favored it over other options such as Polygon and zkSync

  • Injective launched what is described as the "first ever" omnichain domain name service, supporting both Injective and Solana

  • Solana Mobile has announced Snapshot 2, set for February 21st 7pm UTC

  • Blast’s big bang competition will take place on Tuesday, February 20th

  • Avalanche will undergo a $379.76 million unlock on February 22nd, 2024

  • Delta neutral stablecoin Ethena announces $14 million raise

Bitcoin ETF products saw net inflows of $2.27 billion last week

Last week saw a significant surge in net Bitcoin ETF flows, increasing by $1 billion compared to the previous week. A substantial portion of this increase was driven by BlackRock's IBIT product, which attracted an impressive $1.6 billion, marking an approximately 170% increase from the week before.

Despite Grayscale experiencing $700 million in outflows since January 11th, Bitcoin ETF products have witnessed 16 consecutive days of net inflows. This has brought the total inflow figure to $4.9 billion.

Amongst the largest contributors of net inflows are Blackrock’s IBIT, Fidelity’s FBTC and Ark 21 Share’s ARKB.

🎧 Top Crypto Podcasts of The Week

Here are the crypto podcasts that are worth listening to this week...

Additional Coinstack Sponsors

Hive Digital is a leader in providing SEO and PPC services for blockchain, DeFi, Web3, and crypto companies. If you want to expand your organic presence and paid leads from Google and Facebook, get a proposal from Hive Digital at www.hivedigital.com.

💬 Join The Coinstack Telegram Community

Join our Telegram Channel here to chat with our community, ask questions, and learn more about the future of money as we move to a decentralized internet and the creation of a new open global monetary system that works for everyone.

💬 The People We’re Following Closely on Twitter

📚 How To Get Started With Crypto Learning

📰 The Coinstack Newsletter:

Tracking the most important blockchain stories of the 2020s, including a decentralized internet and the creation of a new open global monetary system that works for everyone. As always, published for informational purposes only. Please do your own research. Just our opinions. Not intended as financial advice as we are not financial advisors. We may own some of the digital assets we write about as we believe strongly in the sector. Please do your own research. Published and written weekly by Ryan Allis and Mike Gavela. 

Coinstack is a news and analysis newsletter for the digital asset industry. None of the information here is a recommendation to invest in any securities or other types of investments. Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All investments involve risk and may result in loss.

Comments and thoughts are welcome on our Telegram channel:

Please share with your friends and colleagues.