As a seasoned researcher with a keen interest in blockchain technology and decentralized finance (DeFi), I find the launch of StarkGate v2.0 on the Starknet network quite intriguing. With my background in understanding the nuances of various DeFi projects, I can confidently say that this upgrade holds significant potential for both Starknet and the Ethereum ecosystem as a whole.
As a crypto investor, I’m excited about the recent announcement of Starknet’s StarkGate v2.0 launch on the mainnet. Starknet is a rapidly expanding permissionless zero-knowledge (ZK) rollup layer two (L2) network within the Ethereum (ETH) ecosystem. The StarkGate serves as a dedicated multi-chain bridge built on the Starknet network, connecting Ethereum users to DeFi protocols that tap into the STRK ecosystem. With a 24-hour volatility of only 0.6% and a market cap of $1.54 billion, this project appears to be a stable and promising addition to my investment portfolio.
As a crypto investor, I’m excited about the StarkGate bridge, a game-changer for decentralized application users like me. This innovative tool allows us to move assets swiftly and affordably across different platforms. Launched by StarkWare back in May 2022, the popularity of StarkGate has soared, with deposits surpassing $1 billion and an average of over 200k monthly transactions.
What to Expect from the StarkGate V2.0 on Starknet
The new StarkGate version, now operational on the mainnet, offers enhanced user interaction.
Additionally, the StarkGate protocol was created to make it user-friendly for those using Web3, aiming to facilitate widespread acceptance of Decentralized Finance (DeFi) projects within the Ethereum environment.
According to the Starknet team, the design is straightforward, providing concise guidelines and an interface that’s easy to navigate, enhancing the overall experience by simplifying the transition process as much as possible.
As a crypto investor, I’m thrilled about the rollout of the new version of StarkGate, as it expands the list of tokens we can interact with. This move aims to provide more possibilities for developers using Dapps on the Starknet platform. The growth of Starknet into a significant gaming ecosystem is impressive, thanks to its high transaction speed and economical cost per transaction.
Consequently, the debut of StarkGate v2.0 significantly strengthens Starknet’s potential to assert its leadership in Decentralized Finance (DeFi) within the Ethereum network.
StarkGate v2.0 is officially live on Mainnet!
Now, you’ll experience an improved user interface, expanded token compatibility, and extra features for every bridgegoooor user.
Come enjoy all Starknet’s unique dApps in a fast & low-cost environment đ«”
â Starknet đșđ± (@Starknet) December 3, 2024
Market Impact
On Starknet Network, the total value locked (TVL) in assets has surged past $294 million, with a stablecoin market cap exceeding $78 million. Notable DeFi protocols on this network include Nostra, Ekubo DEX, zkLend Finance, Vesu Lending, and several others.
Based on data from Starkscan, the Starknet Network has handled over 138 million transactions and hosted more than 5.2 million smart contracts so far. Currently, approximately 82 million STRK tokens are staked by 75 validators to ensure the security of the Starknet blockchain, representing a portion of the total 2.25 billion STRK tokens in circulation.
The upcoming release of StarkGate v2.0 is expected to boost the acceptance and use of STRK within the expanding cryptocurrency market. This mid-tier digital coin, valued at approximately $7 billion in total and regularly exchanging hands for around $266 million per day, has experienced a rise of over 46% in just two weeks, trading at roughly 69 cents on Tuesday, December 3, during the early trading session in New York.
Consequently, the price of STRK has successfully bounced back after a prolonged period of sideways movement. Additionally, the Weekly Relative Strength Index (RSI) has surged past the 50 mark for the first time, implying that the bullish sentiment is growing stronger.
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2024-12-03 18:27