Starknet Surges by 11%
Starknet, a popular Ethereum layer-2 scaling solution, experienced a significant surge of over 11% in the last 24 hours. The price of Starknet (STRK) was at $0.438 at the time of reporting, with an intraday high of $0.444. This increase in value showcases a strong upward trend amidst a broader downturn in the altcoin market.
Starknet Ecosystem Growth
The total value locked (TVL) in Starknet has seen a remarkable rise to $239.41 million, marking a substantial 549% increase from the beginning of the year. This surge in TVL indicates a growing confidence in the platform, contributing to the sustained gains of STRK.
Key Catalysts for Starknet’s Rally
One of the main drivers behind the recent surge in STRK’s price was the unlocking of $470,000 worth of STRK tokens by Ethereum co-founder Vitalik Buterin. This event sparked increased interest and trading activity, boosting the token’s market value. Additionally, the completion of the Starknet Bolt Upgrade on Aug. 28 has further fueled the bullish momentum, leading to a 140% surge in trading volume within a day.
