🚀 Can Starknet Keep Going? - STRK Crypto Analysis

AI-generated source summary

The video discusses Starknet (STRK) relative to Bitcoin and its own performance. The price of STRK doubled in three days, reaching $0.103, while open interest on Binance perpetual futures surged by 71% to $470M, and is 12.5 times larger than the current unlock. The total open interest across four exchanges is $182M, which is 22% of the market cap. Funding rates on Binance have been positive at +9% annually on average, with the last six prints showing four negative. However, in the last 24 hours, four of the six prints were negative, indicating a potential shift. Liquidations on OKX showed $4.1M on bets on falling prices and $3.4M on bets on rising prices, suggesting both sides were liquidated during the recent rally. The price of STRK has outperformed Bitcoin by 266% in the last 30 days, breaking out of a long-term downtrend channel. The current unlock event on October 15th is for 127M STRK tokens, valued at approximately $14M, which is about 2% of the spot volume and about a fifth of the circulating supply. This unlock is almost 4 times larger than the previous month's unlock. The total value locked in Starknet is $168M, with daily chain fees of $10,000. The analysis suggests that if STRK stays above 10 cents, it could see another leg up to a short squeeze targeting the November high of around 25 cents. Conversely, if it falls below 7 cents, it could invalidate the current rally and the leverage might unwind rapidly.

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