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Starknet TVL plunges 73% as Extended moves $120M to Arc; plans for L1 shift gain 93% vote support.

Protocol Fundamentals
24 Oct 2026
AMBCrypto
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Bearish
Starknet TVL plunges 73% as Extended moves $120M to Arc; plans for L1 shift gain 93% vote support.

Starknet's total value locked (TVL) dropped sharply by 73% from $158M to $42M after Extended, a key decentralized perpetual futures platform, migrated $120M in TVL to the Arc blockchain. This migration caused a significant decline in Starknet's DeFi activity and stablecoin liquidity. Despite this setback, Starknet received overwhelming 93% governance support to explore becoming an independent layer 1 (L1) blockchain, citing concerns over Ethereum's security against AI and quantum threats. The Starknet team will now allocate resources to research the L1 transition, though the STRK token price has reversed earlier gains amid market profit-taking.

Starknet's market cap stands at Rp6,74 trillion as of Oct 24, 2026, 13:21 WIB, while its price on Pluang is Rp887, down 7.08% in the past day. Trading volume remains active at Rp1,42 trillion with a majority of 61% buy orders, indicating ongoing investor interest despite recent TVL declines and governance changes.

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