Starknet价格飙升26%，因其量子-resistant分裂脱离以太坊

Key Facts

As of 10:44 a.m. EDT on Thursday, STRK was up 25.9% to $0.0612 in 24 hours. Earlier, Starknet announced that it was "actively considering" becoming an independent Layer 1 (L1) network and set a goal of achieving quantum security by 2027.

CoinGlass data showed that the value of open interest contracts in STRK futures rose by 53% in 24 hours, and futures trading volume was about five times that of spot trading volume.

Any move to L1 will require approval through the Starknet governance process. K33 Research research found that most cases of rapid build-up of Bitcoin leverage are followed by further price declines.

Starknet proposes: Build an independent quantum-resistant blockchain

Starknet (STRK) announced on Thursday that it was considering leaving Ethereum (ETH) and becoming a quantum-resistant independent blockchain by 2027, its price rose by about 26% in 24 hours. At the same time, futures market activity surged.

The proposal came a day after Justin Drake, a researcher at the Ethereum Foundation, called on the industry to prepare for "bunker mode," warning that artificial intelligence could crack the signature algorithms used by most crypto wallets. CoinGlass data showed that the value of open interest contracts in STRK futures increased by more than half over the same period of time.

K33 Research found that six of the seven rapid accumulations of Bitcoin leverage over the past five years have subsequently led to further price declines, with an average decline of 16% in 30 days.

StarkWare, the company behind Starknet, described the plan as an action racing against Ethereum's own timetable.

StarkWare co-founder and CEO Eli Ben-Sasson wrote on the X platform: "Ethereum's goal is to achieve full L1 quantum resistance by the end of 2029. Bitcoin does not make such commitments. Starknet is expected to achieve this goal in 2027."

What is the proposal proposed by Starknet?

Starknet is currently a Layer-2 network. It processes transactions outside the Ethereum main chain and relies on Ethereum for security. Ben-Sasson pointed out that if it becomes an independent chain, Starknet will independently control its security upgrades rather than waiting for Ethereum.

The core of the proposal lies in cryptography. Starknet's proof is based on hash functions, which Drake points out are designed to minimize the mathematical structure available to attackers. In contrast, the elliptic curve behind most cryptographic signatures contains more such structures.

Drake recommends that large holders gradually move funds to the latest wallet address where a transaction has never been signed. In the worst-case scenario, he wrote, the system could be breached "in months rather than years."

Who drove this rally? Mainly futures traders

Futures trading allows traders to use borrowed funds to make bets on token prices. Open interest value is the total value of these bets that have not yet been settled.

CoinGlass data shows that STRK's futures trading volume is about five times its spot trading volume. During this volatility, short positions lost less than US$1 million. In its research on Bitcoin, Glassnode found that when both prices and open interest value rise, it indicates that traders are increasing long exposure.

Glassnode found this week that altcoin leverage was already high before the move. In addition, STRK is currently trading at about 62% lower than a year ago.

Is Zcash a "bunker"? Its builders disagree with competitors

Supporters of Zcash (ZEC) have made similar arguments for their network.

Zcash co-founder Sean Bowe wrote on X late Wednesday: "Zcash is already a 'bunker'.

However, Cassie Heart, founder of rival Quilibrium Networks, objected. She wrote that the sudden collapse of elliptic curve cryptography would put Zcash at risk of unauthorized spending.

Heart wrote: "Ironwood does not provide you with a 'bunker mode'," referring to a recent upgrade to Zcash.

CoinGlass data showed that ZEC fell by about 9% in 24 hours as the value of open interest fell. Glassnode interprets this model as closing long positions. According to reports, approximately US$21 million of ZEC's total liquidations came from long bets, accounting for the majority of the US$23 million total liquidations.

What could cause a crash? De-leveraging before voting

Unchained reported that the plan is still a proposal. According to StarkWare's roadmap, any changes to the Starknet protocol need to be approved through its governance process.

Economists at the Bank for International Settlements have found that high leverage may also explain why cryptocurrency markets frequently experience severe plunges.

The governance proposal will be a concrete first step towards L1. Prior to this, there was still exposure risk in this rise due to the possibility of futures positions being eliminated.

Glassnode's Frederik Theissen wrote in the research note: "We often observe the establishment of large numbers of long positions on the eve of or during the formation of market tops, which reflects excessive enthusiasm among traders."