$STRK surged to $0.12, up about 150% in 4 days
This latest move by Starknet has taken it from a token nobody cared about to the hottest performer in the market
【What happened】
On 10/11, STRK briefly surged to $0.1222 and is currently trading at around $0.117–$0.12. On 10/7, it was only $0.049—up as much as about 150% in 4 days
【Why the surge】
• Narrative-driven: Starknet said it is considering breaking away from Ethereum L2 and transitioning to an independent L1, with quantum resistance targeted for 2027—earlier than Ethereum’s 2029 target
• Shorts got squeezed hard: A series of short squeezes pushed derivatives open interest to around 160 million tokens at one point
• Network catalysts: The v0.14.4 upgrade went live, incentives for Bitcoin staking and bridging were introduced, and Coinbase opened access to New York users
【My take】The sharper the rally, the more important it is to stay calm—this looks more like a product of sentiment and leverage
• Severely overbought: Daily RSI is as high as 87.5; a technical pullback could come at any time
• Data is questionable: Some on-chain analysts say about 73.5% of trading volume may be wash trading, casting doubt on genuine buying demand
• Supply pressure: Around 175.4 million STRK (1.8% of supply) will be unlocked on 10/20, with about 60% allocated to insiders and private investors
Trading note: Chasing the rally is extremely risky—don’t get left holding the bag at the top
→ Only if it holds above 0.1212 can we talk about another leg up
→ If it breaks below support at 0.1005, it could fall quickly
(Personal opinion, not investment advice)
#STRK surges to $0.12
This latest move by Starknet has taken it from a token nobody cared about to the hottest performer in the market
【What happened】
On 10/11, STRK briefly surged to $0.1222 and is currently trading at around $0.117–$0.12. On 10/7, it was only $0.049—up as much as about 150% in 4 days
【Why the surge】
• Narrative-driven: Starknet said it is considering breaking away from Ethereum L2 and transitioning to an independent L1, with quantum resistance targeted for 2027—earlier than Ethereum’s 2029 target
• Shorts got squeezed hard: A series of short squeezes pushed derivatives open interest to around 160 million tokens at one point
• Network catalysts: The v0.14.4 upgrade went live, incentives for Bitcoin staking and bridging were introduced, and Coinbase opened access to New York users
【My take】The sharper the rally, the more important it is to stay calm—this looks more like a product of sentiment and leverage
• Severely overbought: Daily RSI is as high as 87.5; a technical pullback could come at any time
• Data is questionable: Some on-chain analysts say about 73.5% of trading volume may be wash trading, casting doubt on genuine buying demand
• Supply pressure: Around 175.4 million STRK (1.8% of supply) will be unlocked on 10/20, with about 60% allocated to insiders and private investors
Trading note: Chasing the rally is extremely risky—don’t get left holding the bag at the top
→ Only if it holds above 0.1212 can we talk about another leg up
→ If it breaks below support at 0.1005, it could fall quickly
(Personal opinion, not investment advice)
#STRK surges to $0.12