Starknet Total Value Locked Reaches $300 Million for the First Time Since 2024 as On-Chain Activity Improves

Starknet's total value locked (TVL) has surpassed $300 million for the first time since 2024, as reported by DeFiLlama. This increase signifies a significant recovery in the capital deployed across the Ethereum Layer-2 network after a year-long downturn.

Key Takeaways

Starknet’s TVL has surpassed $300 million for the first time since 2024.
The recovery in TVL reflects improved user confidence and activity on the network.
Rising stablecoin liquidity suggests deeper DeFi participation within Starknet.
Starknet currently averages 65,000 daily active users, ranking fifth among Layer-2 networks.
Despite competition from newer platforms, Starknet shows signs of recovery moving forward.

Starknet Total Value Locked Reaches $300 Million for the First Time Since 2024 as On-Chain Activity Improves

The resurgence follows an extended period where Starknet's TVL sharply declined through 2024, hampered by weak Layer-2 sentiment and reduced on-chain activity. Although the network is still some way from reaching its historical peak, its return to the $300 million mark represents the strongest capital position it has held in over a year.

Starknet TVL Recovers to Early 2024 Levels

According to DeFiLlama data, Starknet’s TVL has gradually increased in recent weeks, countering losses suffered in the latter half of 2024. As of this report, the TVL stands at $302.12 million.

This recovery brings the network back to capital levels not seen since early 2024 when it achieved its all-time high of $307 million before experiencing liquidity contraction. The increase suggests a revival in confidence among users deploying assets on Starknet, even as competition among Layer-2 networks remains fierce.

Starknet TVL and Stablecoin Market Cap

Source: DeFiLlama

In addition to rising TVL, Starknet has also experienced a notable boost in stablecoin liquidity. Data from DeFiLlama indicates that the network’s stablecoin market capitalization has reached around $248 million, marking its highest level ever. Growing stablecoin balances are often seen as an important indicator of increased DeFi participation.

Signs of User Activity Stabilization on Starknet

The recovery in TVL is underpinned by improving user activity metrics. Current data from Token Terminal shows that Starknet averages about 65,000 daily active users and ranks fifth among Layer-2 blockchains in terms of daily usage.

Starknet Daily Active Users

Source: TokenTerminal

Although this figure remains lower than the network’s peak from 2023, it shows a steady improvement since mid-2024.

Outdated Narratives Disproved by New Data

The recovery coincided with a recent tongue-in-cheek social media post from Solana that brought back an old claim from 2024, which inaccurately stated that Starknet had just eight daily active users due to outdated data.

Solana's Post about Starknet

Source: X/Solana

Current on-chain data demonstrate that Starknet’s activity is significantly higher than such claims suggest, although it continues to lag behind leading Layer-2 networks like Base and Arbitrum.

Ongoing Recovery Amid Layer-2 Competition

Despite reclaiming the $300 million TVL level, Starknet is still far from its historical highs and faces strong competition from newer Layer-2 platforms. However, the combination of increasing TVL, growing stablecoin liquidity, and stabilizing user activity indicates that Starknet has emerged from its depths of 2024 and is entering a measurable recovery phase.

The sustainability of this recovery will depend more on the sustained deployment of capital and real on-chain usage than on social narratives.