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Following
STRK In the turmoil in the cryptocurrency market, Starknet tokens bucked the trend.
Cryptocurrency market prices fluctuated sharply this week, but Starknet's native token,$STRK, became an obvious exception. At around 11 a.m. UTC on October 9, the token rose by more than 71% on the seven-day chart and by about 35% in the past 24 hours. This performance is in sharp contrast to the weakness of the overall market.
L1 transformation expectations drive sentiment shift
This increase is mainly related to a major strategic announcement. According to Eli Ben-Sasson, CEO of developer company StarkWare, the Starknet team is seriously considering transforming the network from Ethereum's Layer 2 solution to a stand-alone Layer 1 blockchain.
The core motivation behind this shift is quantum security: transitioning to L1 will give Starknet full control of its own update rights. Ben-Sasson estimates that the network is expected to achieve full quantum resistance by 2027. In contrast, the Ethereum Foundation plans to maintain the status quo until its own quantum resistance solution is completed by the end of 2029.
Currently, there are no formal proposals or governance votes. However, the market reacted strongly to the idea. As of 06:48 UTC on October 9, STRK prices rose to approximately US$0.06825, up approximately 40.1% in 24 hours, outperforming Bitcoin and Ethereum during this period. According to CoinGecko data, STRK's market value at the time was approximately US$507 million, and its 24-hour trading volume was approximately US$411.8 million.
Background: What does L1 transformation mean?
Starknet currently operates as Layer 2 of Ethereum, submitting cryptographic certificates to Ethereum for verification and publishing data that supports transaction reconstruction. If it is transformed to Layer 1, its security architecture will undergo fundamental changes, and the network will rely on its own consensus mechanism rather than Ethereum's settlement infrastructure.
Starknet is built based on ZK-STARK technology and has developed a post-quantum secure migration roadmap. The plan aims to end Starknet's reliance on Ethereum for settlement and security, but this requires building its own validator network and infrastructure.
Investors should note that this is still in the early stages of consideration. The proposed direction is not the launched network or completed migration, nor is there any guarantee that users and applications will migrate with it.
