Starknet’s total value locked [TVL] has climbed back above $300 million for the first time since 2024, according to data from DeFiLlama. The climb marks a notable recovery in capital deployed across the Ethereum Layer-2 network after more than a year of decline.
The rebound follows a prolonged drawdown that saw Starknet’s TVL decline sharply throughout 2024 amid weak Layer-2 sentiment and a decrease in on-chain activity.
While the network remains well below its historical peak, the return to the $300 million level represents its strongest capital position in over a year.
Starknet TVL returns to levels last seen in early 2024
DeFiLlama data shows Starknet’s TVL has risen steadily in recent weeks, reversing losses accumulated during the second half of 2024. As of this writing, the TVL was $302.12 million.
The recovery places the network back at capital levels last observed in early 2024, when it reached its all-time high of $307 million, before liquidity thinned out.
The move suggests renewed confidence among users deploying assets on Starknet, even as competition among Layer-2 networks remains intense.
Source: DefiLlama
Alongside rising TVL, Starknet has also seen a significant increase in stablecoin liquidity. DeFiLlama data shows the network’s stablecoin market capitalization has climbed to approximately $248 million, its highest point ever.
Growing stablecoin balances are often viewed as a key indicator of deeper DeFi participation.
Starknet user activity shows signs of stabilization
The TVL recovery is being supported by improving usage metrics. Data from Token Terminal indicates Starknet currently averages around 65,000 daily active users.
Additionally, it ranks fifth among Layer-2 blockchains in terms of daily activity.
Source: TokenTerminal
While that figure remains below the network’s highs from 2023, it marks a sustained improvement from mid-2024
Outdated narratives quashed as data shifts
The recovery comes with a recent sarcastic social media post from Solana that resurfaced a widely shared 2024 post. The 2024 post suggested that Starknet had eight daily active users, which was also due to lapsed data.
Source: X/Solana
Current on-chain data show that Starknet’s activity today is orders of magnitude higher than those claims imply, even if it continues to trail leading Layer-2 networks such as Base and Arbitrum.
Recovery remains relative amid Layer-2 competition
Despite reclaiming the $300 million TVL level, Starknet remains well below its historical highs and continues to face strong competition from newer Layer-2 platforms.
Still, the combination of rising TVL, expanding stablecoin liquidity, and stabilizing user activity indicates Starknet has moved out of its 2024 trough and into a phase of measurable recovery.
Whether that recovery can be sustained will depend less on social narratives and more on continued capital deployment and real on-chain usage.
Final Thoughts
- Starknet’s return above $300 million in TVL marks its strongest on-chain recovery since 2024, supported by rising stablecoin liquidity and improving user activity.
- While activity remains below historical highs, current data challenges outdated narratives and suggests capital is gradually returning to the network.
