Starknet Token Outperforms as TVL Climbs

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.