Popular Altcoin Soars 18 Percent in a Day: It Will Split from Ethereum and Move to Its Own Network

Starknet’s native token, STRK, surged 18.1% in 24 hours, surpassing the $0.06 level. This price movement followed a noteworthy statement by StarkWare CEO Eli Ben-Sasson regarding the future of Starknet.

Ben-Sasson discussed the risks that quantum computers and artificial intelligence could pose to the security structure of blockchain networks. He stated that one of the options being considered to allow Starknet to implement security updates more independently is to separate from the Layer-2 structure running on Ethereum and become an independent Layer-1 network.

However, this announcement does not signify a finalized network transition or a management decision. The Starknet team is currently only evaluating various technical options. The timeline for a potential change and the role of the STRK token in the new structure have not yet been announced.

Starknet recently rolled out the v0.14.4 update to the mainnet. The update increased the capacity to process approximately 1.1 billion Layer-2 gases within a single proof of force. While the possibility of an independent network seems to be influencing the rise in STRK, the key factor determining whether this price movement is sustainable will be whether the plan translates into a concrete technical proposition.

*This is not investment advice.