bitcoinlfg

Tag: starts

  • STRK price soars 7% as Starknet officially starts Bitcoin staking integration

    STRK price soars 7% as Starknet officially starts Bitcoin staking integration

    STRK price soars 7% as Starknet officially starts Bitcoin staking integration

    • The upgrade allows Bitcoiners to participate in Starknet’s consensus.
    • The L2 has reduced the unstaking period to 7 days to enhance flexibility for stakers.
    • STRK has gained more than 2% following the announcement.

    Cryptocurrencies traded cautiously on Monday while bracing for this week’s interest rates decision, poised to shape the markets’ trajectory in the upcoming sessions.

    Bitcoin hovers near $116,000 as Ethereum’s stability above $4,600 fuels altcoin season debates.

    Meanwhile, L2 platform Starknet has finally launched Bitcoin staking.

    The team has briefly paused the staking platform to finalise implementation before its official release in the coming hours.

    The announcement read:

    The BTC staking integration has started! The staking protocol is now paused for a few hours while we implement this massive update.

    With this move, the Ethereum-based Layer2 enables Bitcoin holders to participate in Starknet’s consensus for the first time.

    The L2 focuses on ZK rollups and scalability, and integrating BTC staking reflects its dedication to decentralisation and chain-to-chain partnerships.

    Native STRK turned bullish after the announcement.

    The digital token rallied from $0.1299 low to $0.139 intraday peak.

    That translated to an over 7% increase, demonstrating renewed interest in Starket’s ecosystem.

    Starknet integrates BTC staking

    The announcement highlighted that BTC will account for 25% of Starkent’s consensus power, whereas STRK dominated at 75%.

    That guarantees balances while attracting more stakers.

    Meanwhile, the staking protocol will support several BTC wrappers, including WBTC, tBTC, SolvBTC, and LBTC.

    The community would vote for more options in the future through governance proposals.

    That means the staking model can transform as Starknet’s BTC staking network grows.

    The team has temporarily halted its staking protocol to onboard the upgrade.

    Unstaking period reduced to 7 days

    The upgrade comes with multiple good news.

    One of the most striking adjustments is the substantial reduction of unstaking from 21 days to seven days for STRK and BTC stakers.

    The improved exit time remains paramount for participants who value responsiveness in a fast-paced crypto market.

    Users can react to price fluctuations quickly with a reduced lock period.

    That will likely lead to new money-making opportunities, consequently boosting Starknet’s liquidity.

    Flexible unstaking solves one of the main challenges for stakers.

    Thus, Starkent can expect enriched TVL in the coming times.

    What it means for Starknet and DeFi

    The BTC staking launch could make Starkent a more attractive platform for cross-chain decentralised finance (DeFi) undertakings.

    Notably, the L2 moves to tap into Bitcoin’s staggering liquidity base with plans to channel it into dApps built within the STRK ecosystem.

    DeFi developers can leverage the BTC liquidity to build innovative lending platforms, yield strategies, and derivatives markets.

    While most comments were positive, one X user criticised Starknet’s upgrade.

    He believes that the BTC staking launch renders STRK worthless for holders.

    “So STRK ends up as inflation fuel; printed to pay devs and now to reward wrapped BTC stakers? Where’s the actual value left for STRK holders?

    Nevertheless, Starknet promises to democratise the DeFi landscape by tapping Bitcoin’s robust liquidity.

    Share this article
    Categories
    Tags



    Source link

  • Sky Protocol buyback program starts paying off as SKY token jumps 12%

    Sky Protocol buyback program starts paying off as SKY token jumps 12%

    SKY token price surge

    • Sky Protocol has spent nearly $75M on buybacks since February 2025.
    • SKY token has risen by 12.6% in a week, nearing previous highs.
    • Buybacks reduced supply and boosted investor confidence.

    The price of the SKY token has jumped 12.6% over the past seven days as the Sky Network buyback program starts to bear fruits.

    The steady rise comes after months of token repurchases, with Sky Protocol investing tens of millions of dollars to reduce supply and stabilise market confidence.

    Sky Protocol’s buyback strategy

    Sky, formerly known as Maker before rebranding in August 2024, has made headlines with its aggressive buyback plan.

    Since February this year, the protocol has used nearly 75 million USD to purchase SKY tokens directly from the market.

    The most recent update revealed that in August alone, Sky spent 5.5 million USD to acquire 73 million tokens.

    Notably, this consistent activity has helped to gradually lift the token’s price.

    In late February, SKY was trading just above six cents.

    Today, it is changing hands at a little over seven cents, and while the number may look modest, it marks a meaningful recovery for a token that had faced periods of volatility.

    The buybacks are designed to reduce circulating supply, creating upward pressure on value while signalling financial confidence from the project’s side.

    SKY token price recovery gains momentum

    Market data from Coingecko shows that SKY has gained more than 12% in the past week, outperforming several other decentralised finance tokens.

    The token’s performance since the start of the buyback has been steady, rising over 8% across six months despite broader market swings.

    In late July, SKY even touched 9.6 cents, getting close to its all-time peak of just over ten cents recorded in December, before taking a surprising dip to just above six cents in August.

    By comparison, Uniswap’s UNI token has risen about 6% in the same timeframe, while Aave’s AAVE has gained over 25%.

    These comparisons highlight that although SKY has not delivered the strongest returns, its growth is tied directly to a deliberate financial mechanism rather than just speculative market sentiment. This distinction makes Sky’s approach stand out within the altcoin space.

    Why the buybacks matter

    Token buybacks are not new in crypto, but Sky’s scale and consistency are drawing attention.

    By removing tokens from circulation, the project is reducing potential selling pressure and rewarding holders with gradual value appreciation.

    The fact that Sky has committed $75 million to this strategy suggests a strong treasury position and confidence in its ecosystem.

    Other projects, such as World Liberty Financial and Pump.fun, have also launched similar programs, indicating that the model may become more common across the industry.

    For Sky, the coming months will be crucial in determining whether the current momentum can be sustained, especially if market conditions turn volatile again.

    Investor sentiment already appears to be shifting in line with these efforts. A token that fell to a low of 3.5 cents earlier this year has nearly doubled from that point, reflecting renewed faith in its long-term role.

    With a market capitalisation of around $1.64 billion and more than $6.2 billion in total value locked on the platform, Sky is positioning itself as one of the more stable players in DeFi.

    Share this article
    Categories
    Tags

    Source link