StarkNet Price Collapse Warning: Trader Sees Further Downside

With the StarkNet price in freefall, the host of CryptoFateev Ripple XRP Trader has made it a point of concern. In his assessment of the current crypto market, the trader is sounding the alarm on StarkNet and also warns users about the risks of mining for free on a smartphone with Sirius Network.

StarkNet Faces Downward Pressure

The trader points to some troubling indicators with StarkNet; the price has been in a steady decline from 50 cents down to 45 since the beginning of August, which is enough to give one pause about what lies ahead for the project. He foresees that the collapse of the price could yet worsen, perhaps to 38 cents before long. The exodus of key partners and apps from the ecosystem only adds to that risk. Should such headwinds persist, he cautions, a plunge to 1 cent is not out of the question and would be devastating to the project’s value.

Bitcoin’s Market Context

Such bearishness is not confined to StarkNet. The wider market is anything but certain, with Bitcoin having trouble maintaining a performance over $80,000, and that instability is being felt by altcoins in general.

Risks of Free Crypto Mining on Smartphones

As for Sirius Network, the trader is at pains to spell out the risks of its free smartphone mining. One can enter the referral code 9TRXTT and register to mine SST and SRT tokens from their phone, but once the sign up is done, the private key must be written down and stored in a safe place, and the wallet set up properly. But do not be under the impression that free mining will put profit in your pocket, the trader says. There are no guaranteed returns and the token’s value depends entirely on the project itself. It is something to bear in mind when considering mining on a mobile device.

This article reflects the channel author’s opinion and is not investment advice.