Ethereum Layer 2 network Starknet’s STRK token is surging today amid broader crypto market outflows ahead of the STRK Investor and Team Unlock scheduled to begin in three weeks.
STRK has been underperforming since the Token Generation Event (TGE) in February 2024, when STRK opened at around $2. STRK is currently trading at $0.17, down more than 96% from its initial price, and has a market cap of $770 million.
The token has had a strong month after being relatively flat in 2025, rising 40% in the past 30 days and 26% today, despite 127 million STRK being unlocked in the coming hours.
STRK Chart – CoinGecko
With 127 million STRK (worth $21.5 million at current prices) in circulation every month since April, the token is still up 16% since April 1st. However, it is worth noting that the rest of the cryptocurrency market was down significantly at the time, with BTC trading at $85,000 on the same day.
Starknet continues to reach new staking milestones as supply increases. Today, the chain announced that the network has reached 900 million staked STRK, worth more than $150 million, accounting for approximately 20% of the circulating supply.
STRK’s strong price action comes as privacy tokens such as Zcash (ZEC) and Monero (XMR) have outperformed other markets, with Starknet co-founder Eli Ben-Sasson best known for his role in launching ZEC.
Key metrics on the chain have also recovered in the fourth quarter, as the token price has successfully avoided periodic unlocks. Starknet is the sixth largest company by Layer 2 secured value, according to L2Beat, with Total Value Locked (TVL) up 200% from July’s local low.
This growth is primarily driven by the extended perpetual futures DEX, which accounts for just over 40% of Starknet’s TVL. Extended’s TVL nearly doubled in October, increasing from $55 million at the beginning of the month to $96 million at the end of the month. This may have been driven by the Perp DEX airdrop farming mania that started in September.
