Starknet's STRK Token Drops 4% to $0.05962 After October Surge

Starknet's STRK token fell about 4% to $0.05962 in a market snapshot, leaving it below the $0.10 level it crossed during a sharp rally earlier in October.

STRK traded between $0.05851 and $0.06474 over the preceding 24 hours, with volume of about $100.3 million. Its seven-day range reached a high of $0.1073. The quoted price was near the bottom of the daily range.

The token traded at $0.1022 at 8:59 p.m. ET on Oct. 10 (00:59 UTC Oct. 11), following a 40.4% gain over 24 hours. The later snapshot placed it below $0.06.

Starknet operates as an Ethereum layer 2 network. On Oct. 8, it said it was considering a move to an independent layer 1, which it tied to a goal of becoming fully quantum-resistant by 2027.

The market snapshot placed STRK's moving average convergence divergence line below its signal line. Its daily relative strength index was 31.03, near the 30 level commonly used to describe oversold conditions.