Starknet (STRK) jumped 29.4% to $0.05543 as traders anticipated the May 12 strkBTC launch and rising trading activity.
Author: Akshay
Starknet (STRK), a ZK-rollup Layer 2 validity rollup that scales Ethereum with privacy-preserving transactions and native Bitcoin integration, traded at $0.05543 after gaining 29.4% in the past 24 hours, according to CoinGecko. Traders appear to be positioning around the upcoming strkBTC launch on May 12, 2026, following Starknet’s recent Shinobi upgrade that introduced native privacy and Bitcoin support.
This article is for informational purposes only and does not constitute financial advice.
The primary catalyst behind STRK’s rally is the confirmed launch of strkBTC on May 12, 2026. Starknet announced the privacy-focused Bitcoin wrapper alongside a live federation event involving NEAR and Twinstake, while governance votes tied to bridge operations closed on May 7, according to official @Starknet posts and CoinMarketCal event listings.
The move also builds on momentum from Starknet’s Shinobi Phase 4 upgrade, which enabled native privacy features and Bitcoin support roughly one week ago. According to CoinGecko and TradingView event data, traders linked the upgrade directly to growing activity around the upcoming strkBTC rollout.
Secondary market factors also supported the move. CoinGecko data showed $262.27 million in 24-hour trading volume, Traders on X, including CryptoBullet (@CryptoBullet1), highlighted spot trading activity rising nearly fivefold during the rally. Derivatives positioning and rotation into Layer 2 privacy-focused projects also contributed to the rally, according to market commentary tracked across CoinGlass and X.
CoinGecko data showed STRK recording $262.27 million in 24-hour trading volume, far above recent averages highlighted in trader commentary. CoinGlass reported perpetual futures open interest at $45.96 million, while the average funding rate stayed slightly negative at -0.0017%, indicating short sellers continued paying longs during the rally. DefiLlama data showed Starknet’s total value locked at , rising only over 24 hours, suggesting the move remained primarily trading-driven rather than fueled by rapid DeFi inflows. Lookonchain also highlighted whale wallet 0x84b3 holding a position valued near .
Brother Lyskey 🥷
@Lyskey
JUST IN: You can now trade perps with Bitcoin and ETH as collateral on Starknet. Extended now lets traders use BTC, ETH and other assets as collateral, automatically borrows USDC against the cheapest collateral first, and sends the interest paid by borrowers to the vault (XVS) https://t.co/0doArCTDd6
Multi-Asset Collateral is now live on Extended From today, wBTC and ETH are accepted as collateral alongside USDC and XVS (Extended yield-bearing collateral). EURC and USDT are coming soon. How it works The system operates on a native money market, with the vault acting as the https://t.co/Z3WguldwaN
02:11 PM·May 8, 2026
Xverse - Bank on Bitcoin
@xverse
Track your position, accrued yield, and current APY in one dashboard. Add more or withdraw at any time. Runs quantum-proof on @Starknet. Self-custodial lending without a dApp browser or pool hunting. Open the Earn tab and go.
Xverse now integrates @vesuxyz lending natively. Deposit USDC into a curated lending pool without leaving the app. Organic yield from real borrower demand. Not subsidized rewards. Not points farming. https://t.co/39jzQyO4Rm
01:59 PM·May 8, 2026
Crypto analyst CryptoBullet (@CryptoBullet1), who has 176,308 followers, wrote: “There we go $STRK,” after previously highlighting the May 12 strkBTC launch as a potential catalyst. Official project account @Starknet, which has 345,681 followers, promoted “The Federation of StrkBTC” event involving NEAR, Twinstake, and Starknet while also posting “Bullish news, team!” around the rollout.
A more cautious view came from Nazoku (@Nazo_ku), who has 11,217 followers. The analyst warned that profit-taking pressure had started emerging despite the rally, citing a reported 10 million STRK Binance deposit linked to trader wallet 0x2c9 and elevated selling activity during the move.
TradingView data shows immediate resistance near $0.0597, based on recent May 2026 swing-high price action. The nearest support level sits around $0.0461, which aligns with a recent swing low and opening range recorded during the current rally. The next major historical level above current resistance remains Starknet’s all-time high of $7.71, recorded on February 19, 2024, according to TradingView historical data.
CoinGlass reported the 14-day RSI at 78.73, placing STRK in overbought territory based on the latest momentum reading. An RSI above 70 is conventionally considered overbought territory. Stronger short-term buying momentum, although traders also monitor these readings for possible cooling periods after rapid price moves.
This is not financial advice. Always do your own research before making investment decisions.
The next confirmed catalyst for Starknet is the May 12, 2026 launch of strkBTC and its associated live federation event involving NEAR and Twinstake. Governance votes tied to bridge operations already closed on May 7, clearing another milestone ahead of the rollout.
The largest near-term risk arrives on May 15, when 127 million STRK tokens unlock, according to TokenUnlocks data. including 66.6 million allocated to early contributors and 60.4 million to investors. Historical unlock events have previously introduced short-term sell pressure across crypto markets, particularly after strong rallies.
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