Newton Gitonga
Ethereum L2 Starkent has confirmed a key milestone today.
The blockchain has officially surpassed 700 million staked STRK coins, accounting for 17% of the altcoin’s current circulating supply.
700M STRK are now staked on Starknet.
17% of the circulating supply.
Just the beginning.
The announcement raised eyebrows as it confirms increased confidence among investors and users in the project’s future potential.
Starkent has seen rapid adoption lately, with staking increased by over 20% last month.
The staking program, launched less than a year ago, sees increased traction, as indicated by soaring user engagement.
Meanwhile, these trends reflect the community’s trust in Starknet’s zero-knowledge innovation and modular scaling strategy that could shape the future of DeFi.
Network confidence soars
Hitting 700 million staked, worth roughly $85.5 million at the current market price, reflects commitment and ecosystem alignment.
Staking tokens is more than holding, as it reflects investors’ confidence in the blockchain’s stability and growth prospects.
For Starknet, the figure confirms that users see long-term benefits of joining the STRK community.
Meanwhile, BTCFi, which unlocks Bitcoin liquidity through DeFi, has contributed to the surge in staking.
The L2 introduced Bitcoin staking last month (September 30) to allow BTC holders to earn rewards alongside a 100 million incentive program.
Individuals can stake Bitcoin and STRK on the Starkent network and receive financial perks.
They can opt for native staking, which has lower risks and a seven-day unbonding. Alternatively, users can enjoy instant tradeable liquid by staking their BTC and STRK assets.
Two ways to stake your BTC & STRK on Starknet:
– Native staking: direct, 7-day unbonding
– Liquid staking (@endurfi): stake & receive a liquid token for DeFi
Simplicity or composability. You choose.
Users gain more ways to participate in Starkent governance, secure the platform, and earn yield, as more blockchains bridge Bitcoin into the STRK ecosystem.
Precisely, the BTCFi movement aims to unleash Bitcoin’s potential using decentralized finance.
Bitcoin staking seeks to turn the largest cryptocurrency by value from a store of wealth into a money-generating asset through lending, liquidity protocols, and staking.
Meanwhile, Starknet’s zero-knowledge innovation and advanced scalability make it perfect for such innovations.
Starknet staking might continue to climb, especially as BTCFi gains traction amid the soaring Bitcoin value.
Despite the current selling pressure, analysts predict bull runs in the fourth quarter.
Cryptocurrency activities like staking thrive during market-wide rallies. Starknet is already showing signs of outperformance.
STRK price outlook
The native coin traded in the red today as bears tightened their grip in the broader sector.
The cryptocurrency market capitalization lost over 2% the past 24 hours to $3.68 trillion.
STRK is trading at $0.1230 after shedding more than 6% of its value the previous day.
The alt has underperformed lately amid key Whale exits and broader market selling pressure.
Cryptocurrency dipped today amid amplified liquidations and whale exists, including SpaceX’s 2,495 BTC transaction.
Also, the Fear & Greed Index at 33 confirms deteriorated market sentiments.
Nevertheless, surged staking confirms investor trust in Starknet’s potential, positioning STRK for impressive performance amid broad-based rallies.
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