thedefiant.io
Ethereum Layer 2 network Starknet’s $STRK token is surging today while the broader crypto market bleeds out, ahead of $STRK investor and team unlocks slated to begin in less than three weeks.
$STRK has performed poorly since its token generation event (TGE) in February 2024, when $STRK opened at roughly $2. $STRK is now down more than 96% from its opening price, and changes hands at $0.17, with a $770 million market capitalization.
The token has been relatively flat in 2025 but has had a strong month, up 40% over the last 30 days and 26% today, despite 127 million $STRK unlocking in the coming hours.
There have been 127 million $STRK, worth $21.5 million at current prices, entering circulation every month since April, but the token is still up 16% since April 1; however, it is worth noting that the rest of the crypto market was significantly lower at that time, with BTC trading at $85,000 on the same date.
Amid the increase in supply, Starknet continues to reach new staking milestones. Today, the chain announced that the network has reached 900 million staked $STRK, worth over $150 million, accounting for roughly 20% of the circulating supply.
$STRK’s strong price action comes as privacy tokens such as Zcash ($ZEC) and Monero (XMR) outperform the rest of the market, and Starknet’s co-founder, Eli Ben-Sasson, is well known for his involvement in the launch of $ZEC.
With the token price successfully fending off recurring unlocks, the chain’s key metrics are also rebounding in Q4. Starknet is the sixth-largest Layer 2 by value secured according to L2Beat, and its total value locked (TVL) is up 200% since its local bottom in July.
The growth is largely driven by the Extended perpetual futures DEX, which accounts for just over 40% of Starknet’s TVL. Extended’s TVL nearly doubled in October, growing from $55 million at the beginning of the month to $96 million at the end of the month, potentially driven by the perp DEX airdrop farming mania that began in September.