The Starknet (STRK) price is experiencing one of its strongest days in a long time. The token is currently up more than 35%, trading around $0.226, making it one of the top performers in the market. Trading volume has also increased by more than 29%, indicating a clear rise in demand and activity. Notably, this surge for Starknet comes while the broader crypto market remains volatile and uncertain. So what is driving STRK‘s strong performance?

Growing Demand from BTC Staking

One of the main catalysts behind the recent rise is the increasing interest in Bitcoin staking within Starknet‘s BTCFi programme. Users can stake tokenised Bitcoin, such as tBTC and wBTC, in exchange for STRK rewards.

More than $200 million worth of BTC has already been deposited into the programme.

Total value locked (TVL) has risen to $72 million.

Nearly 20% of the total STRK supply is currently locked.

This reduces the available supply of tokens, increases liquidity pressure, and boosts buying interest.

Strong Momentum from a Major Network Upgrade

The network has also benefited from a significant technological upgrade. On 5 November, the new “S-two prover” was activated. This upgrade makes proof generation roughly ten times faster and cuts gas fees in half. For Starknet, this marks an important step toward improved scalability and lower transaction costs. The upgrade has also strengthened market confidence, especially after last year‘s price decline.

Technical Breakout Signals a Bullish Trend

From a technical perspective, STRK is showing clear improvement. After a prolonged downward trend, the token has broken out and moved above several key resistance levels, including the 30-day SMA, early Fibonacci levels, and resistance around $0.197. The breakout was confirmed by strong volume — an important signal for technical traders.

According to market analysts, $0.197 is the most important support level at the moment. As long as the price remains above this level, the bullish trend remains intact. The next major target lies around $0.30, a more significant resistance level on the weekly chart.

Outlook: Holding Above $0.197 Remains Essential

The Starknet chart shows a clear breakout, a solid retest, and a potential continuation to the upside. The combination of growing Bitcoin staking demand, major network upgrades, and strong technical indicators is driving positive momentum.

If the price holds above $0.197, a move toward $0.30 is well within reach. A close below this level could weaken the positive sentiment. For now, however, demand appears strong and momentum remains in favour of buyers.

Disclaimer: This is not financial advice. Always conduct your own research and seek professional guidance before investing.