The 10 largest Starknet wallets hold a combined 7.09 billion $STRK, worth more than $600M at the time of writing, according to data from @SantimentData. The accumulation follows a sharp price rally after @Starknet said it was weighing a move to its own Layer 1 network.

Whales keep buying as retail interest cools

Santiment said the top 10 Starknet addresses hold about 7.09 billion STRK, their highest collective balance since April. The analytics firm noted that Starknet climbed roughly 330% in four weeks before network growth hit a record. A record 1,166 new STRK wallets were created in one day, right as price reached its local peak.

Santiment described that spike in new wallets as a classic FOMO setup, in which late buyers crowd in near the top and raise the odds of a short-term retrace. STRK did pull back afterward. The firm called the behaviour of the largest holders the stronger long-term signal, as retail enthusiasm cooled but the biggest holders kept growing their positions.

L1 plans drove the price surge

The rally began after Starknet said it is considering a change of architecture. In a post on its official account, Starknet said it is actively considering becoming an L1, which would let it become the first fully quantum-resistant network, with 2027 as the target. StarkWare CEO Eli Ben-Sasson raised the idea at Token2049 on October 7 to 8.

As an Ethereum Layer 2, Starknet currently relies on Ethereum for security, and moving to an L1 would let it verify and secure transactions on its own. Ben-Sasson has argued that an independent chain would let Starknet control its security upgrades without waiting for Ethereum to make progress.

No final decision has been made. StarkWare is considering the move, although no final decision has been announced. One report put the gain at 59%, to $0.1192 at the peak of the weekend rally, and the token had traded near $0.03 in April, according to Odaily Planet Daily.

Traders also face a supply event. About 127 million STRK are scheduled to unlock on October 15, adding potential selling pressure after the rally. Analysts have also flagged execution risk, since migration mechanics remain unresolved.

Sources:

Santiment Insights: Starknet's Biggest Wallets Keep Growing After Massive Rally
The Crypto Times: STRK Price Rises 19% as Starknet Targets Quantum-Resistant L1 by 2027
Use The Bitcoin: Starknet Surges 59% as STRK Rallies on Layer 1 and Quantum Security Plans