Starknet's STRK coin extends surge as trading volume jumps

Starknet's STRK (STRK-USD) cryptocurrency extended its rally Sunday, rising about 16% as a burst of speculative trading added momentum to the blockchain network's recent push to attract Bitcoin holders. STRK has surged from roughly $0.044 to $0.057 in the past 24 hours, after jumping about 26% Saturday.

The move has been accompanied by a sharp increase in trading. By 12:08 p.m. ET Sunday, CoinGecko showed STRK with more than $240 million in 24-hour volume and a market capitalization of about $427 million. The token has gained more than 35% in the past week and more than doubled in the past month.

The rally accelerated Saturday after a crypto trader using the name Pumponomics posted a bullish STRK thesis on X at about 10:33 a.m. ET, saying he had accumulated about $740,000 of the token during the week. Binance STRK/USDT volume began rising around that time, with the token jumping about 12% during the 11 a.m. hour on unusually heavy trading.

On-chain data also showed a wallet receiving about 17.44 million STRK from Coinbase Prime minutes before the post. The position closely matched one displayed by Pumponomics, though the identity of the wallet's owner couldn't be independently confirmed. Futures trading also surged, with volume rising about 213% to $187.7 million and open interest climbing about 20% to $74.2 million Saturday.