Starknet STRK Token Surges 34% Amid Protocol Upgrades
- Starknet’s STRK token sees a 34% daily increase.
- Protocol upgrades drive increased TVL on Starknet.
- Significant on-chain activities boost liquidity and utility.
Starknet’s STRK token surged by 34% in one day, nearing 2024 highs in total value locked due to recent protocol upgrades that bolstered on-chain utility.
This momentum reflects Starknet’s strengthened ecosystem, driving increased liquidity and enhancing its competitive position in the DeFi landscape.
Starknet’s STRK token experienced a significant resurgence, jumping over 34% in a single day. This rise positions Starknet’s total value locked (TVL) near 2024 highs, influenced by protocol upgrades and enhanced on-chain utility.
Leadership from StarkWare, including Eli Ben-Sasson, has facilitated these changes. They announced the deployment of the “Stwo” prover on mainnet, enhancing throughput and efficiency, providing momentum for STRK’s upward trend.
The immediate effect of these upgrades includes a substantial increase in TVL, with triple growth from prior levels. New staking options, like Bitcoin BTC -1.11% staking, further bolster Starknet’s appeal to investors and developers.
The financial implications include a 50% cut in transaction fees, which boosts user activity and liquidity. This strategic move allows Starknet to attract funds and usage from competing layers and gain market traction.
Starknet’s community has shown strong support, as evidenced by increased online activity. This momentum suggests a positive reception to the recent technical improvements.
Long-term outcomes might include further financial growth and regulatory interest. Starknet’s enhanced capabilities position it competitively among other platforms, potentially influencing the broader DeFi landscape.
Eli Ben-Sasson, Co-founder & CEO, StarkWare, – “Our recent deployment of the Stwo prover on mainnet has significantly improved throughput and efficiency in Starknet, leading to this renewed momentum in STRK.”
