Starknet’s STRK token spent late September and early October doing its best rocket impression. Then gravity filed a complaint.
After climbing about 385% in under four weeks, STRK dropped somewhere between 38% and 48% over the following week. By October 19, 2026, it was trading around $0.057 to $0.060, well below its recent high.
The pullback lands while a community vote on Starknet’s future is still open. That vote asks whether to explore turning the Ethereum Layer 2 into its own independent blockchain.
From a quarter-penny to a speculative darling
The rally’s math is eye-catching. STRK sat at approximately $0.026 in mid-September. Around October 11-12, it peaked near $0.1268.
The driver was a narrative, not a single product launch. Speculation centered on Starknet potentially moving from an Ethereum Layer 2 to an independent Layer 1 chain built with post-quantum security in mind.
StarkWare, the company behind Starknet, fed the excitement. Its messaging around potential control over future post-quantum security upgrades drew attention. So did the launch of privacy features such as Shadow Accounts.
The comedown, and what the numbers say
Once STRK topped out, sellers showed up. The slide is attributed to profit-taking combined with broader weakness across decentralized finance.
Token supply likely did not help either. Monthly unlocks released approximately 127 million STRK around October 15, 2026, adding fresh tokens to the market during the correction window.
The network’s DeFi activity held up better than the token. Starknet’s total value locked fell about 5.3% to about $158 million as of October 19.
There was even a bright spot. Weekly network revenue reached a record of approximately $92,800 around October 17, the highest the chain has posted.
The vote everyone is watching
A Snapshot poll opened on October 15, 2026, asking STRK holders whether Starknet should research the independent Layer 1 path. Voting stays open until October 22. Early results showed approximately 99.9% in favor.
The poll is non-binding, so a yes vote signals community appetite rather than locking in any decision. Holders are weighing whether to explore the move, not whether to flip a switch and leave Ethereum tomorrow.
What this means for STRK holders and Starknet
Even after the drop, STRK traded well above its mid-September level of approximately $0.026. Anyone who bought early is still sitting on gains. Those who bought near $0.1268 are having a less pleasant October.
TVL fell only modestly, and weekly revenue hit a record during the same stretch. That points to a user base that did not simply follow the token out the door.
The bigger strategic question is what an independent Layer 1 would mean for Starknet’s relationship with Ethereum. Leaving the Layer 2 model would trade Ethereum’s shared security for more control over its own upgrades, including the post-quantum work StarkWare has highlighted.
Watch three things next. First, the final Snapshot result when voting closes on October 22. Second, whether StarkWare follows up with concrete research or a roadmap. Third, how STRK trades around the next monthly unlock.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.