Cryptocurrency

Starknet

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Pyth Network

<p>Cryptocurrency prices are notoriously volatile, with huge price swings being common in both directions. Recently, two crypto tokens – Starknet’s STRK and Filecoin’s FIL – have seen their prices pumping significantly higher. This article will explore some of the potential reasons behind these latest price surges.</p>
<p><strong>Starknet Airdrop and Trading Hype Driving Price</strong></p>
<p><a href="https://www.tradingview.com/chart/STRKUSDT/2Y6FMeKG-Starknet-STRK-price-is-rising-when-will-be-time-to-sell/" target="_blank" rel="noopener noreferrer nofollow">Tradingview analyst, P_S_trade </a>shared insights into the recent price surge for Starknet’s STRK token:</p>
<p>“Recently, the long-awaited Starknet airdrop took place. The last time there was such a hype around the project was probably during the Arbitrum airdrop…We don’t have any STRK coins and don’t plan to buy them in large quantities right now. However, exchanges are now holding trading contests around STRKUSDT and you and we can earn money by fulfilling simple conditions for a small amount.”</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="399" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-878-1024x399.png" alt="" class="wp-image-442889" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-878-1024x399.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-878-300x117.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-878-768x299.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-878-1536x598.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-878-2048x798.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-878-385x150.png 385w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-878-100x39.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-878-899x350.png 899w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-878-788x306.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-878.png 1605w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>P_S_trade believes these trading contests are providing liquidity for STRK and reducing volatility. At the same time, some users are selling newly acquired tokens from the airdrop. P_S_trade identified possible resistance and support levels for STRK: Selling zone – $2.50-$2.80 and Buying zone – $1-$1.15</p>
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<p><strong>Technicals Suggest Further Upside for Filecoin</strong></p>
<p>Twitter user <a href="https://twitter.com/CryptoFaibik/status/1760912102225568128" target="_blank" rel="noopener noreferrer nofollow">CryptoFaibik</a> sees bullish signals in Filecoin’s price chart:</p>
<p>“$FIL Bulls are back in the Town..!! just Broke the Crucial Resistance on the 3-day timeframe. An epic Bullish Rally incoming..”</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="489" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-879-1024x489.png" alt="" class="wp-image-442897" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-879-1024x489.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-879-300x143.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-879-766x366.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-879-1536x734.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-879-2048x978.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-879-314x150.png 314w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-879-100x48.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-879-733x350.png 733w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-879-788x376.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-879.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Meanwhile, <a href="https://twitter.com/slothquant/status/1760864871577682397" target="_blank" rel="noopener noreferrer nofollow">slothquant </a>highlights how much additional upside FIL would need just to match previous all-time highs:</p>
<p>“$FIL current market cap is ~ 2.7x away from matching its all-time high (11.4b) $FIL current price is ~ 21.6x away from matching its all-time high ($176)”</p>
<p>Slothquant notes ongoing token unlocks have diluted per-token value. <a href="https://twitter.com/HouseOfCrypto3/status/1759825030110748766" target="_blank" rel="noopener noreferrer nofollow">HouseOfCrypto</a> sees promise for even greater gains:</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="560" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-881-1024x560.png" alt="" class="wp-image-442913" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-881-1024x560.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-881-300x164.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-881-766x419.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-881-1536x840.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-881-2048x1120.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-881-274x150.png 274w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-881-100x55.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-881-640x350.png 640w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-881-788x430.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-881.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>“$FIL’s run has yet to start. Show me a chart that looks more promising than $FIL’s 22X Just to ATH. @Filecoin will melt faces when the true bull run starts…”</p>
<p><strong>Conclusion</strong></p>
<p>The recent price pumps for both Starknet and Filecoin seem to be driven by a combination of factors – hype cycles, technical indicators pointing to further upside, and growing fundamentals. However, risks remain, including potential selling pressure from token unlocks. It remains to be seen if these rallies have true staying power or are just short-term spikes. The volatility of crypto markets means reversals can happen as fast as the pumps.</p>
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<p>The post <a href="https://captainaltcoin.com/starkent-strk-and-filecoin-fil-prices-pumping-heres-why/" rel="noopener noreferrer nofollow">&nbsp;Starkent (STRK) and Filecoin (FIL) Prices Pumping – Here’s Why</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Starkent (STRK) and Filecoin (FIL) Prices Pumping – Here’s Why

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