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Ethereum co-founder Vitalik Buterin received 6.29 million STRK tokens worth approximately $1.01 million in Starknet’s latest scheduled unlock on October 9, continuing distributions from his 2018 seed investment in the Layer 2 scaling project.
On-chain data revealed by blockchain analyst Ai Yi on October 9 shows that Buterin’s wallet was credited with approximately 6.29 million STRK tokens, a portion originating from an airdrop distributed to early supporters after a one-year lockup period.
The transfer forms part of Starknet’s ongoing Strk token unlock program, which continues to distribute rewards from its initial seed round allocations.
“The Strk token unlock highlights long-term commitments from Starknet’s earliest supporters, including Vitalik Buterin,” Ai Yi, blockchain analyst, in a post on X.
According to Arkham Intelligence, the newly unlocked STRK tokens, valued at roughly $0.16 each, represent the second-largest asset in Buterin’s portfolio. His STRK holdings now stand at $1.01 million, second only to his 240,000 ETH, currently valued at over $1.06 billion.
Despite the Strk token unlock, STRK’s price remains well below its February 2024 peak of $4.41, having dropped nearly 60% since. The token’s decline mirrors a broader cooldown in the Layer 2 ecosystem following last year’s surge in scaling solutions.
Still, Buterin’s inclusion in the latest Strk token unlock underscores his continued association with Starknet, a project he has publicly supported since its inception.
“Vitalik Buterin’s sustained presence reflects confidence in Starknet’s role in Ethereum scalability,” Arkham Intelligence, in an analysis report.
Buterin’s relationship with Starknet dates back to January 2018, when he participated as an individual investor in StarkWare’s $6 million seed financing round. At the time, Starknet was an emerging zero-knowledge rollup (ZK-rollup) solution, designed to enhance Ethereum’s scalability and lower gas fees by bundling transactions off-chain and verifying them using STARK proofs.
Over the years, Buterin has lauded the project’s technological progress, particularly improvements in data efficiency and gas optimization. In a 2024 public statement, he praised Starknet’s v0.13.3 update, which significantly reduced “blob” gas costs one of the major pain points in Layer 2 scaling.
The recent Strk token unlock is not the first time Buterin has received STRK. In May 2024, he unlocked 2.11 million STRK valued at around $1.07 million, and again in September 2024, he withdrew 1.26 million STRK, bringing his total balance above two million tokens at the time.
This Strk token unlock adds to Starknet’s ongoing strategy of gradually releasing locked tokens to long-term contributors and investors. The project aims to incentivize ecosystem stability while aligning supporters’ interests with its long-term growth.
STRK’s role within the Ethereum ecosystem remains pivotal, especially as Starknet continues to develop zero-knowledge technology that could set new standards for scalability and privacy on Ethereum.
For crypto investors, the Strk token unlock reaffirms Starknet’s ties to one of Ethereum’s founding figures. For policy makers, it highlights how token unlocks can serve as structured distribution mechanisms to reward early participation while maintaining transparency.
And for the general public, it illustrates the continued evolution of Ethereum’s Layer 2 expansion driven by figures like Buterin who bridge innovation and credibility.
As of publication, STRK trades at $0.16, with total circulating supply and liquidity data available via CoinGecko and Arkham Intelligence.
