Starknet's STRK token fell about 38% in the seven days to Oct. 19, reversing much of its recent rally. Network activity cooled by less, and a non-binding vote on researching an independent Layer 1 stays open until Oct. 22.
STRK fell about 38% over the seven days to Oct. 19, according to The Defiant's calculations using CoinGecko data. Bitcoin was roughly flat over the same stretch.
The token traded at about $0.0570 at 1:09 p.m. ET, down 37.77% from $0.0916 a week earlier. Over the comparable window, bitcoin lost 0.68% and ether fell 4.54%.
STRK reverses a 322% rally
The drop follows a surge in which STRK gained 322% between Sept. 13 and Oct. 11, The Defiant reported earlier. Holders still have a gain over four weeks: STRK remained up 29.56% from its Sept. 21 price of about $0.0440.
Crypto Briefing, which put the weekly decline between 38% and 48%, said the slide is attributed to profit-taking combined with broader weakness across decentralized finance. It also said token supply likely did not help.
Network metrics fall by less than the token
Starknet is an Ethereum Layer 2 network, and the value held in its DeFi protocols fell by a smaller margin. DefiLlama data show total value locked dropping 5.3%, from $166.8 million on Oct. 12 to $158.0 million on Oct. 19.
Trading was uneven rather than a steady slide. Daily decentralized-exchange volume fell from $35.0 million on Oct. 12 to $9.5 million on Oct. 18, but reached $52.5 million on Oct. 15.
The week also included a scheduled supply release. Starknet's token documentation provides for unlocking up to 127 million STRK on the 15th of each month through March 2027, though the schedule does not establish whether recipients sold during the decline.
Independent Layer 1 vote stays open
Meanwhile, the proposed departure from Ethereum settlement remains at the research stage. The governance poll is non-binding, and its text says a yes vote does not constitute approval of a transition to an L1. StarkWare said in an Oct. 19 update that voting closes Oct. 22.
Sources: The Defiant, Crypto Briefing
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