Starknet’s STRK token gained approximately 322% to 323% over the 30 days leading up to October 11-12, 2026. It left both Bitcoin and Ether well behind over the same window.
The trigger was not a product launch. It was an idea: Starknet is considering leaving Ethereum’s orbit to become its own Layer 1 blockchain.
What drove the rally
Starknet currently runs as an Ethereum Layer 2. It processes transactions on its own network, then settles them back on Ethereum for security.
The proposal, unveiled at the Token2049 conference, would cut that cord. Starknet would shift from an Ethereum-settled system to an independent Layer 1 chain. The stated goal is ambitious: to become the first fully quantum-resistant network by 2027.
CEO Eli Ben-Sasson has framed independence as a matter of control. His argument is that running a standalone Layer 1 would let Starknet set its own timelines for security upgrades, especially around post-quantum cryptography. As a Layer 2, the network’s schedule is partly tied to decisions made on Ethereum.
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That pitch landed. On October 9, STRK posted a single-day gain of around 40%. Intraday prices pushed above $0.12.
The numbers behind the move
Trading activity followed the price higher. STRK’s 24-hour trading volumes frequently topped several hundred million dollars during the run. Daily decentralized exchange volumes and perpetual futures trading also climbed.
STRK’s market capitalization was reported between $860 million and $888 million in recent snapshots. On October 8, fees hit a seven-day high of $13,685, up about 190% from the week’s low.
Starknet’s DeFi total value locked, or TVL, rose roughly 5% to 7% over a recent stretch slightly shorter than the price rally. It now sits at approximately $168 million.
So the token roughly quadrupled while the money actually parked in its apps grew by single digits.
A long way from the top
For all the fireworks, context matters. Even after the surge, STRK remains more than 97% below its all-time high, set in February 2024.
What this means for traders and the Layer 2 landscape
The core risk is simple: the Layer 1 shift is still only a proposal. It needs technical work, governance approval and community feedback before anything changes. There is no confirmed launch timeline. For now, Starknet continues to settle on Ethereum.
The divergence between price and usage deserves attention too. STRK’s market cap now sits at several times the network’s DeFi TVL. Traders should watch whether TVL, fees and user activity catch up over the coming weeks.
There is also a bigger strategic question for Ethereum’s scaling ecosystem. A prominent rollup openly weighing independence challenges the model of Layer 2 networks as extensions of Ethereum. If Starknet follows through, it would mean giving up the security guarantees that made Layer 2s attractive in the first place, and persuading validators, developers and capital that a standalone chain is worth the trade.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.