Starknet's STRK Slips 27.9% as 127M Token Unlock Looms After Wild Rally

Starknet's STRK is the worst performer among today's top 300 cryptocurrencies, according to CoinGecko data, with a 27.9% slide over 24 hours as the wider market retreated.

The pullback trims a triple-digit rally that had carried STRK to 10-month highs. Later this week, a key event may present a harder test for that rally's durability.

Quantum Pitch, Wallet Inflow, Then a Sudden Turn

BeInCrypto Markets data showed STRK trading at $0.08675. Even with the one-day drop, the token remains up 213.82% in the past month.

The advance gathered steam after Starknet's October 8 post on X. In it, the network said it was weighing a move from an Ethereum (ETH) Layer 2 to a standalone Layer 1.

“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 team said.

MAIN TAKE-AWAY from @token2049:

World needs Starknet as a quantum-safe L1.

Market says it.

Whales, KoLs and OGs say it.

I say, We hear you.

— Eli Ben-Sasson | Starknet.io (@EliBenSasson) October 11, 2026

After that post, the altcoin surged. On October 11, it touched an intraday peak of $0.1265, its highest price since early December.

Starknet's argument feeds into a broader crypto debate. Experts warn that progress in quantum computing could leave today's blockchain encryption exposed sooner than many expect.

The surge also drew in a wave of new users. The network-growth metric, tracking addresses that had never transacted before, reached a one-day record of 1,166 STRK wallets.

Activity rose right along with it. Santiment data put active addresses — wallets that carried out a transaction — at 2,822 on October 11.

That beats the 2,579 figure from February 21, 2024, one day after STRK set its all-time high of $4.41. The latest jump coincided with the token's local top.

Santiment called the sequence a familiar market pattern.

“That is a classic FOMO setup. New participants often rush in after a huge rally is already visible, creating crowded buying near the top and increasing the odds of a short-term retrace. STRK’s pullback afterward fits that pattern well,” it said.

The wider market also fed the selloff, as total crypto market capitalization slipped 4%.

A New Supply Wave Challenges the STRK Rally

With the wider market already dragging on prices, STRK now faces an unlock of its own. Tokenomist data cited in BeInCrypto's weekly roundup puts the October 15 release at 127 million STRK.

The release works out to 3.37% of the supply that has been unlocked so far. Early contributors are in line for 66.61 million STRK and investors for 60.39 million.

At the current price, that tranche is worth more than $11 million. It forms part of a monthly distribution that continues delivering STRK to early contributors and investors through March 2027.

This month's unlock arrives while STRK is still sitting on a 213% gain over the past month. Any recipients cashing out would add more selling pressure to a market already retreating from its peak.

Demand from the biggest wallets has stayed firm so far. Starknet's top 10 addresses currently hold roughly 7.09 billion STRK, according to Santiment.

That is their largest combined balance since April. Santiment noted that retail enthusiasm cooled even as these wallets kept expanding their positions.

Whether the biggest addresses continue to take in new supply once it hits the market will become clear after the October 15 unlock.