Despite the broader market downturn, Starknet (STRK) is showing resilience, with a nearly 23% price increase over the past week.
This surge comes despite weak macroeconomic indicators, keeping much of the bearish momentum in check. According to CoinGecko, STRK’s rise is fueled by continued development and investor confidence in the ecosystem, even as the market experiences widespread fear, uncertainty, and doubt (FUD).
On-Chain Developments Fuel Investor Confidence
Starknet’s growth is largely driven by on-chain developments, which have kept investors optimistic. Key projects built on Starknet, like zkLend and Vesu, have seen remarkable progress.
zkLend Partners with Chainlink
zkLend, Starknet’s money-market protocol, recently partnered with Chainlink to enhance the accuracy and security of its market data. Chainlink will cover assets like USDC, USDT, BTC, and ETH, improving user experience and adding more security for zkLend’s activities.
Vesu Reaches $10 Million in TVL
Another Starknet-based protocol, Vesu, achieved $10 million in total value locked (TVL) this month, reflecting 23% growth in just one week. According to DeFiLlama, Vesu now ranks fifth on Starknet’s platform.
NFTs Gain Momentum on Starknet
Starknet’s blockchain gaming scene also received a boost with the release of Realms, an NFT-based game. Realms supports Cartridge.gg’s Controller, a smart contract wallet that enhances user experience for trading assets within the game’s marketplace.
Starknet’s Long-Term Growth Potential
According to data from Dune, Starknet’s long-term growth appears solid. Weekly transactions on the network increased by 19%, while the number of active addresses grew by 1% during the same period. These developments signal sustained growth, even in a bearish market.
STRK Price Faces Resistance at $0.447
Currently, STRK is trading within the $0.388-$0.447 range after facing resistance at the $0.447 level. The token may stabilize in this range before making another breakout attempt. The continued increase in its relative strength index (RSI) suggests a few more days of bullish momentum before it potentially returns to more stable levels.
While the market shows signs of stabilization, broader macroeconomic factors could still affect STRK’s price movements in the long term. However, the token’s resilience against market pressure indicates a promising outlook for the future.
