More than 500,000 wallets have bridged over to scaling solution Starknet, most of them being newer market participants.
, more than 500,000 wallets have bridged over to Starknet, depositing assets worth more than $65 million. As evident from the graph below, ETH was the most bridged asset, equating to nearly 75% of the total value bridged .Users port their assets to take advantage of the speed and cost-effectiveness of a L2 technology. The StarkGate bridge is used to port assets in the case of Starknet.
Starkware, the firm which developed Starknet, has set limitations involving the deposit amount and total value locked in the L1 bridge contract. An increase in deposit caps in mid-March resulted in the sharp jump in deposits. As of this writing, ETH had the maximum cap of 80,000 among all assets. Nansen also emphasized the age breakdown of depositing wallets, shedding light on some intriguing aspects of Starknet’s demand. As revealed below, nearly 75% of these wallets were created in the last one year, with a significant 41% being in the age-band of 3-12 months. This indicated that Starknet’s demand was driven by newer market participants.
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