Starknet

Starknet's STRK token extended its rally Sunday, rising about 16% as a burst of speculative trading added momentum to the blockchain network's push to attract Bitcoin holders. STRK climbed from roughly $0.044 to $0.057 in the past 24 hours, after jumping about 26% Saturday, and by 12:08 p.m. ET Sunday CoinGecko showed more than $240 million in 24-hour volume and a market capitalization of about $427 million. The token has gained more than 35% in the past week and more than doubled in the past month. The rally accelerated Saturday after a crypto trader using the name Pumponomics posted a bullish STRK thesis on X at about 10:33 a.m. ET, saying he had accumulated about $740,000 of the token during the week, and on-chain data showed a wallet receiving about 17.44 million STRK from Coinbase Prime minutes before the post. Futures trading also surged, with volume rising about 213% to $187.7 million and open interest climbing about 20% to $74.2 million Saturday. The speculative activity followed an Oct. 2 announcement from Starknet that it would cover bridge fees for the first 100 Bitcoin moved onto its network through strkBTC, a Bitcoin-backed token that lets holders use their Bitcoin in applications on Starknet, with staking through Endur paying rewards in STRK at an annual percentage yield of about 3%. A further potential catalyst is approaching Monday, when Starknet v0.14.4 is scheduled for mainnet deployment Oct. 5, pending governance approval.