Solana mocks Ethereum L2 Starknet over massive valuation versus low activity

Solana’s official X account on Wednesday publicly mocked Starknet, a prominent layer 2 solution, over a stark mismatch between the project’s valuation and on-chain activity.

The statement pointed to Starknet’s low daily active users and transactions despite maintaining a billion-dollar market capitalization.

“Starknet has 8 daily active users, 10 daily transactions, and still somehow has a 1b MC and 15b FDV,” Solana stated. “Send it straight to 0.”

The post appears to be a sarcastic comment referencing a snapshot of on-chain data from 2024 that showed Starknet with very low daily active users and transaction counts at the time.

Starknet has 8 daily active users, 10 daily transactions, and still somehow has a 1b MC and 15b FDV

LMFAOOOOOOOOOOOOOOO

Send it straight to 0 pic.twitter.com/bfKIC0Jbrq

— Golden (@0xGolden_) April 13, 2024

It sparked numerous responses from crypto projects and industry figures, such as Bubblemaps, MegaETH, and Pump.fun co-founder Alon Cohen.

The team behind Solana’s official X account has developed a reputation for outspoken commentary, most recently engaging with an $XRP supporter over claims about Ripple and $XRP’s competitiveness versus Solana.