The STRK token associated with Starknet experienced a price surge of more than 100% over a seven-day period as developers weighed a potential departure from Ethereum to establish a standalone Layer 1 blockchain.
Data from a CoinGlass snapshot taken on Oct. 11 at 20:28 UTC positioned STRK at $0.1190, marking a 17.7% increase within 24 hours and a 116.7% gain across the week.
Starknet announced on Oct. 8 that it is actively evaluating a shift to become an L1 network, targeting 2027 to launch what it terms the initial fully quantum-resistant network. Should this transition occur, it would eliminate the project’s reliance on the security infrastructure underlying Ethereum.
Starknet weighs Ethereum independence to accelerate quantum protection
Eli Ben-Sasson, CEO of StarkWare, characterized the potential pivot as a necessary measure against mounting anxieties that progress in artificial intelligence and quantum computing might compromise current blockchain cryptography.
Writing on X, Ben-Sasson suggested that quantum threats could materialize earlier than anticipated, noting that advancements in artificial intelligence lend additional urgency to these safeguards. This discussion follows recent breakthroughs in mathematical research aided by AI.
His commentary focuses on preparations for a cryptographically relevant quantum computer and does not indicate that artificial intelligence currently has the capability to crack active blockchain signatures.
The ZK-STARK proof system utilized by Starknet depends on hash-based cryptographic foundations, steering clear of the elliptic-curve designs that face vulnerability against advanced quantum computers.
Additionally, the network accommodates programmable accounts, enabling participants to implement alternative signature methods independently of a network-wide upgrade.
StarkWare outlined a three-phase blueprint in June addressing vulnerable hashing functions, legacy smart contracts, and reliance on Ethereum-inherited components. While Starknet maintains jurisdiction over the initial two stages, the final phase relies on Ethereum’s own transition timeline.
At present, Starknet functions as a Layer 2 network on Ethereum, managing transactions independently while leveraging Ethereum for data availability and settlement. Consequently, its bridge architecture and data commitments tethered to Ethereum stay vulnerable to cryptographic elements outside Starknet’s immediate oversight.
Meanwhile, the Protocol cluster under the Ethereum Foundation established a target date of December 2029 in September to achieve quantum resistance across Ethereum’s data, execution, and consensus layers.
Were Starknet to operate independently, it would require a distinct settlement and security framework to supplant the defenses currently supplied by Ethereum. The disclosure on Oct. 8 signals active deliberation and a goal for quantum resilience rather than a finalized schedule for migration.
STRK futures turnover reaches $3.5 billion in 24 hours
During the same Oct. 11 observation window, statistics from CoinGlass indicated roughly $258.5 million in open futures interest alongside $3.5 billion in futures volume over 24 hours, alongside total futures liquidations of about $14.8 million during the same period.
Figures from CoinMarketCap reviewed on Oct. 11 recorded nearly $720 million in 24-hour trading activity against a market valuation sitting close to $892 million.
This upward market movement precedes a scheduled token release on Oct. 15. While Tokenomist highlights this date, Starknet’s official vesting timeline dictates that up to 127 million STRK tokens may be released monthly for investors and early contributors until March 2027.
Evaluated at the CoinGlass valuation from Oct. 11, the peak distribution would total approximately $15.1 million, representing 1.27% of Starknet’s initial supply of 10 billion tokens. While this unlock grants transferability to previously locked assets, it does not dictate the volume of recipients who will choose to liquidate them.