StarkNet's TVL Skyrockets to $1.32 Billion Post Token Launch

StarkNet , the leading Layer-2 scaling solution for Ethereum, shows tremendous improvements. Their total value locked (TVL) soared to a fantastic figure of $1.32 billion shortly after the launch of their native token, STRK. This development propelled StarkNet into the elite group of Ethereum Layer-2 networks, making it the fourth to surpass the $1 billion TVL milestone.

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StarkNet TVL Composition

Data from L2Beat, a Layer-2 protocol monitoring and analysis platform, outlines StarkNet's TVL composition. The majority, around 83.65%, comes from their newly released native token, STRK. Ethereum (ETH) accounted for 11.41% of the total, while stablecoins contributed 3.78%. This shows the diversity of assets contributing to the ever-growing StarkNet ecosystem.

STRK Market Performance

The market responded to the launch of the STRK token as it usually does with new assets. Initially, token prices soared as traders and investors raced to capitalize on the new listing, leading to a sharp increase in market activity. However, after this initial enthusiasm, STRK's price underwent a correction, declining slightly as early investors began to secure profits and the market searched for a new price equilibrium point. As per the latest update, STRK price is at $1.88, experiencing a small decline of 1.59% in the last 24 hours. The 24-hour trading volume is also down by 39.58%, currently recorded at $289,735,182. With a market capitalization of $1,372,279,288, STRK is currently ranked as the 57th largest cryptocurrency on the market.

Also Read: Starknet Begins to Respond to STRK Token Airdrop Problems

Starknet TLV Increase Factor

StarkNet is a scalability and privacy solution developed by StarkWare that focuses on the Ethereum network. The growth of Total Value Locked (TLV) on StarkNet can be influenced by several factors, such as:

1. Adopt DeFi Applications

TLV's growth on StarkNet will be driven by the adoption of decentralized finance (DeFi) applications built on top of it. The more DeFi projects that choose to use StarkNet as a platform, the greater the TLV that will be locked into it.

2. Network Performance

StarkNet's network performance, including transaction speed and fees, will influence user and developer interest in using the platform. If StarkNet can provide better performance compared to other solutions, such as Ethereum Layer 1 or other Layer 2 solutions, then this could drive TLV growth.

3. Security

Security is an important factor that will influence user and developer trust in StarkNet. If these networks are proven to be secure from attacks and vulnerabilities, then this will increase trust and encourage more value to be locked into them.

4. Product Innovation

Product and service innovations offered on StarkNet can influence user interest. New features, such as stronger smart contracts, better privacy, or easier development features, can attract more users and capital to be locked into the network.

5. Partnership and Integration

Partnerships with large projects, financial institutions, or other platforms could open the door to large-scale use of StarkNet. Integration with existing platforms or applications can help increase the reach and adoption of StarkNet.

6. Market Trends

Macroeconomic factors and overall crypto market trends may also influence TLV growth on StarkNet. If the crypto market is in a bullish trend and interest in DeFi increases, then this could create additional impetus for TLV growth on StarkNet.

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The Future of StarkNet

StarkNet uses STARK, the most secure and scalable cryptographic proof system, to provide a solution that meets the needs of high-volume, complex computing without sacrificing security or decentralization. StarkNet's latest milestone highlights the growing adoption and importance of Layer-2 solutions in addressing the scalability challenges faced by the Ethereum blockchain.

How to Buy STRK on Bittime

After knowing what STRK is and how it works, are you interested in buying and investing in this crypto asset? You can do it at Bittime. STRK tokens are available on Bittime in  STRK IDR pairings. 

 Below is a guide on how to buy STRK tokens on Bittime. 

1. Register an account at Bittime using an active email. 
2. Complete the identity verification process.  
3. Once the account is verified, open the Bittime application.
4. Select the Market menu or click the graphic icon. 
5. Select IDR pairing to buy STRK with Rupiah.
6. Click 'Buy'.
7. Select the order type to use. Limit orders, market orders and stop orders are available.
8. Enter the nominal rupiah to buy STRK.
9. Click the 'Buy STRK' button. 
10. A notification pop up will appear. Read it carefully and click 'Confirm'. 
11. Enter the six digit Transaction PIN.
12. The application will display a successful order notification. 

For a complete guide on how to buy STRK, click  here .

Apart from buying STRK tokens, you can also buy various crypto assets such as BTC, ETH, SOL, ADA, AVAX, DOGE, and many others. Don't forget, keep monitoring ORDI, BTC, ETH, SOL price chart movements today to find out crypto market trends  on Bittime. 

Crypto asset buying and selling transactions on Bittime are easy, safe and instant. Bittime is officially registered and supervised by Bappebti and Kominfo. 

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DISCLAIMER : This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.