CandleFocus Ethereum Layer 2 Starknet Sees 550% TVL Surge in 2024 Driven by STRK Token and DeFi Expansion
2024-11-28
Author: Content Editor
Starknet, an Ethereum Layer 2 scaling solution, has experienced significant growth in 2024. Its total value locked (TVL) has increased by 550% and reached $252 million, driven by the public launch of the STRK token. The DeFi Spring program has played a major role in this growth, distributing tokens and incentivizing participation. The DeFi TVL reached an all-time high of $330 million in Q2, and the ecosystem now includes four major protocols. Additionally, STRK staking is set to launch in December 2024. While the market price of STRK has been disappointing for early holders, it has improved by 30% in the last four weeks. The stablecoin market on Starknet also saw growth, with a 64.1% increase in market cap. USDC and USDT dominate the stablecoin liquidity on the platform.
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