Ethereum Layer 2 Starknet Sees 550% TVL Surge in 2024 Driven by STRK Token and DeFi Expansion
- Starknet’s TVL has surged 550% in 2024, reaching $252 million, fueled by the STRK token launch.
- The DeFi Spring program and diverse protocol participation have driven a 300% quarterly TVL increase.
- Starknet’s stablecoin market grew 64.1% QoQ, with USDC and USDT dominating over 98% of liquidity.
Starknet, an Ethereum Layer 2 scaling solution, has experienced impressive growth so far in 2024, according to a report from blockchain analytics platform Messari.
The network’s total value locked (TVL) has surged by 550% year-to-date, reaching $252 million, largely driven by the public launch of the STRK token in February 2024. Starknet’s ecosystem also is expanding across DeFi, gaming, and infrastructure.
One of the standout initiatives propelling this growth is the DeFi Spring program, which was designed to incentivize participation across Starknet’s decentralized finance protocols. The first phase of DeFi Spring distributed 40 million STRK tokens between February and October 2024, resulting in a 300% quarterly TVL increase in Q1 2024.
Phase two, which began in October 2024, allocated an additional 50 million STRK tokens to liquidity providers.
Starknet…
The post Ethereum Layer 2 Starknet Sees 550% TVL Surge in 2024 Driven by STRK Token and DeFi Expansion appeared first on Coin Edition.
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Ethereum Layer 2 Starknet Sees 550% TVL Surge in 2024 Driven by STRK Token and DeFi Expansion
- Starknet’s TVL has surged 550% in 2024, reaching $252 million, fueled by the STRK token launch.
- The DeFi Spring program and diverse protocol participation have driven a 300% quarterly TVL increase.
- Starknet’s stablecoin market grew 64.1% QoQ, with USDC and USDT dominating over 98% of liquidity.
Starknet, an Ethereum Layer 2 scaling solution, has experienced impressive growth so far in 2024, according to a report from blockchain analytics platform Messari.
The network’s total value locked (TVL) has surged by 550% year-to-date, reaching $252 million, largely driven by the public launch of the STRK token in February 2024. Starknet’s ecosystem also is expanding across DeFi, gaming, and infrastructure.
One of the standout initiatives propelling this growth is the DeFi Spring program, which was designed to incentivize participation across Starknet’s decentralized finance protocols. The first phase of DeFi Spring distributed 40 million STRK tokens between February and October 2024, resulting in a 300% quarterly TVL increase in Q1 2024.
Phase two, which began in October 2024, allocated an additional 50 million STRK tokens to liquidity providers.
Starknet…
The post Ethereum Layer 2 Starknet Sees 550% TVL Surge in 2024 Driven by STRK Token and DeFi Expansion appeared first on Coin Edition.
Read More