Starknet's total value locked (TVL) has climbed back above $300 million for the first time since early 2024, signaling a notable recovery for the Ethereum Layer-2 network. According to DeFiLlama data, the TVL reached $302.12 million, marking its strongest capital position in over a year and nearing its all-time high of $307 million.
The rebound follows a prolonged decline throughout 2024, attributed to weak Layer-2 sentiment and decreased on-chain activity. Supporting the TVL recovery is a significant increase in stablecoin liquidity, which has climbed to approximately $248 million—a record high for the network. This growth is viewed as a key indicator of deeper DeFi participation.
On-chain user activity shows signs of stabilization, with Starknet averaging around 65,000 daily active users, according to Token Terminal. The network currently ranks fifth among Layer-2 blockchains in daily activity, a sustained improvement from mid-2024 lows.
The recovery narrative was challenged by a sarcastic social media post from Solana on January 14, 2026. The post, referencing outdated 2024 data, mocked Starknet for having "8 daily active users" despite a billion-dollar market capitalization. This reignited debates about layer-one versus layer-two network effectiveness and valuation metrics.
Current data starkly contradicts Solana's claims, showing Starknet's activity is orders of magnitude higher. The public exchange highlights how competitive messaging and social media can influence market perception. Meanwhile, Solana (SOL) traded near $147.47, posting strong daily and weekly gains, with analysts noting bullish technical indicators and potential momentum toward $200.
Despite reclaiming the $300 million TVL level, Starknet remains well below its historical peaks and faces intense competition from newer Layer-2 platforms like Base and Arbitrum. The network's recovery, driven by rising TVL, expanding stablecoin liquidity, and stabilizing user activity, indicates it has moved out of its 2024 trough. Its sustainability will depend on continued capital deployment and real on-chain usage.
