Solana's Public Attack on Starknet Highlights Artificial Valuation Concerns

Solana's Public Attack on Starknet Highlights Artificial Valuation Concerns

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Solana's official X account publicly criticized Starknet, alleging low daily active users and transactions despite a high market capitalization and fully diluted valuation. Solana suggested Starknet's valuation should go to zero, using data that appeared to be from an older snapshot. The incident highlights broader concerns within the crypto market regarding how 'mercenary' volume might be artificially inflating network valuations.

Solana's verified X account fired a shot on Jan. 14: “Starknet has 8 daily active users, 10 daily transactions, and still somehow has a 1b MC and 15b FDV[…] Send it straight to 0.” The data used in the ‘sh*tpost' appears to trace back to an April 2024 snapshot, as the FDV figure was wrong.