Key Highlights
- STRK gained 19.2% over 24 hours to $0.05871, with trading volume reaching $229.46 million.
- Starknet said it is considering a transition from Ethereum Layer 2 to an independent Layer 1.
- The network has set 2027 as the target for becoming a fully quantum-resistant network.
Starknet’s native token, STRK, rose 19.2% over the previous 24 hours to trade at $0.05871. The move followed an official statement that the network is actively considering a transition to a Layer 1 architecture, intending to become a fully quantum-resistant network by 2027.
According to CoinGecko data (on October 8 at 7:15 PM UTC), STRK’s 24-hour trading range ran from $0.04831 to $0.06222. Market capitalization stood at $429.534 million, while fully diluted valuation reached $578.735 million. 24-hour trading volume was $229.46 million. Total value locked on the network measured $312.751 million. Circulating supply was reported at 7.422 billion tokens against a total and maximum supply of 10 billion.
Over the preceding seven days, the price ranged between $0.04086 and $0.06222. The token’s all-time high remains $4.41, placing the current price 98.7% below that level. Its all-time low is $0.02221, reflecting a gain of 160.4% from that point, according to data from CoinGecko (on October 8 at 7:15 PM UTC).
Starknet’s L1 consideration
In a statement published on its official X account on Thursday, Starknet said, “We are actively considering becoming an L1. This would enable Starknet to become the first fully quantum-resistant network, with 2027 as our target.”
The announcement came amid broader discussion within the Starknet ecosystem about preparing for potential advances in quantum computing and artificial intelligence that could affect existing cryptographic assumptions.
Post-quantum roadmap background
StarkWare, the primary developer of Starknet, previously published a post-quantum roadmap on June 30 outlining the network’s technical position. The roadmap stated that Starknet’s architecture relies on STARK proofs, which are based on collision-resistant hash functions rather than elliptic-curve arithmetic.
According to StarkWare, this design choice means the proving layer was not built on the form of cryptography that Shor’s algorithm is expected to compromise.
The roadmap also highlights Starknet’s native account abstraction. This feature allows a contract to change its authentication method without requiring a protocol-level breaking change. StarkWare has noted that this capability has already been demonstrated through external projects, including a Falcon-512 account built in Cairo by S2morrow and ongoing work by OpenZeppelin on a post-quantum account contract.
Market context
The 24-hour price chart showed a sharp upward movement beginning in the early afternoon, with the token reaching an intraday high near $0.062 before consolidating near $0.059. Trading volume and open interest in perpetual futures rose alongside the price movement, according to data from CoinGecko (on October 8 at 7:15 PM UTC).
Starknet continues to operate as an Ethereum Layer 2 scaling solution while evaluating the potential transition to independent Layer 1 status. The stated objective of any such transition is to position the network as a fully quantum-resistant system by the target year of 2027.
The combination of the price increase and the official statement on Layer 1 plans places the recent market activity in the context of the network’s longer-term technical roadmap focused on cryptographic resilience.
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