Ethereum co-founder Vitalik Buterin recently sent 2.09 million STRK tokens, worth approximately $799,000, to Binance.
According to Onchain Lens, Vitalik Buterin, the founder of Ethereum, transferred 2.09 million STRK tokens, valued at about $799,000, to Binance.
Vitalik Buterin Sends 2.09 Million STRK Tokens to Binance, Incurs a $714,000 Loss
This transaction occurred after Buterin acquired STRK tokens over the past five months, during which their value dropped from $1.51 million, resulting in a $714,000 loss.
Currently, he still holds 15,862 STRK tokens, worth around $6,000.
Buterin has been associated with StarkNet since May 2018, when he participated in a $6 million seed funding round to support this project.
However, the exact amount he invested in that funding round has not been disclosed.
What Is Starknet (STRK)?
Starknet (STRK) is a Layer-2 network based on ZK-Rollups (Zero-Knowledge Rollups) technology, with its foundation on Ethereum (ETH).
This network enhances scalability for decentralized applications through innovative rollup technology.
Starknet uses ZK-Rollups to process thousands of off-chain transactions, which are then combined into a single transaction on Ethereum’s main chain.
This approach significantly reduces gas fees and network congestion, especially during high transaction volumes on Ethereum, making blockchain applications more efficient and accessible.
