Starknet’s total value locked fell 73%, from $158 million to $42 million on October 22, after the perpetual futures platform Extended migrated to Circle-backed Arc blockchain. Extended moved $120 million in TVL and was the main driver of Starknet’s DeFi activity. Over the same period, stablecoin liquidity declined 75%, from $147 million to $37 million, while bridged volumes also collapsed. Separately, 93% of voters approved research into transitioning Starknet from an Ethereum layer-2 network to an independent layer-1 blockchain, with any final path still requiring a community vote. However, the STRK token erased all of its October gains, falling 58% after initially rallying more than 120%, then declining another 7% on October 22.
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