- Starknet jumps 20% amid Bitcoin’s spike to new all-time high
- The rally for BTC helped most altcoins higher, with projects in the Bitcoin decentralized finance ecosystem among top gainers.
- Starknet’s rollout of BTC staking recently is a potential catalyst for further upside.
As Bitcoin surged past $126k for its first all-time high of the largely bullish month of October, Starknet (STRK) stood out as one of the top gainers on the day.
STRK price capitalized on the BTC momentum to highs of $126,198 to post sharp gains to highs near critical resistance level of $0.20, signaling renewed investor appetite that could drive more gains.
Starknet price spikes 20%
Starknet’s STRK token led altcoin performers, rocketing 20% in the last 24 hours to reach $0.1964.
This marked the project’s strongest daily showing since its February 2025 mainnet launch, with trading volume exploding by more than 400% to $305 million.
Data shows the STRK/USDT pair saw the most frenzied activity, with millions of dollars in trades seen across Binance, Bybit and OKX among other top crypto exchanges.
The rally pushed Starknet’s market capitalization to $796 million, elevating it into the top 100 coins by market cap. STRK ranked 95th in global rankings as of writing.
Notably, the Starknet price has climbed by over 40% in the past month.
STRK price outlook: breakout and retest
As on-chain metrics show, active wallets and transaction volume on the Starknet network has seen a significant bump in activity.
With utility-driven demand rather than mere speculation, bulls managed to hold onto a bullish set up.
STRK has broken out of a multi-month descending triangle pattern, with the relative strength index (RSI) hovering at 65. The retest aligns with a bullish reversal setup.
On the downside, support levels are now firm at $0.15. Meanwhile, resistance looms at $0.20, a psychological barrier that could unlock further gains if breached.
BTC spike and what it means for STRK
Bitcoin’s ascent to a record $126,198 was like a powerful tide that lifted altcoins.
Projects to record particular gains include those bridging Bitcoin liquidity to Ethereum’s scalability layers.
Starknet, which enables BTC holders to stake wrapped assets like WBTC for STRK rewards, stands among top gainers with its 20% uptick.
Bitcoin staking on the network went live in mid-September.
On Sept. 30, the Starknet team posted:
“Bitcoin staking is fully live on Starknet Mainnet. BTC is now part of Starknet’s staking mechanism, letting Bitcoiners secure the network and earn rewards alongside STRK stakers.”
The integration has drawn institutional eyes, while Starknet’s decentralized sequencers and fee-burning mechanisms are features set to enhance its appeal.
Bitcoin’s growth includes record flows into BTC exchange-traded funds, an indicator of further interest.
Meanwhile, Bitcoin’s safe-haven status as the US government shutdown continues means momentum for BTCfi alts could be significant.
As Bitcoin eyes $135k per Standard Chartered forecasts, Starknet’s uptick could involve a push for $1. Key barriers include $0.35 and $0.80.
Credit: Source link
