Astar Network's native token, ASTR, has surged by 23% over the past two weeks, cementing its position among the top 150 cryptocurrencies with a market cap of $233 million.
Key Metrics (As of Latest Data)
- Current Price: $0.05244 (24% increase in 1.5 hours)
- Trading Volume: $100K (21.70% decrease from the previous day)
- Year-to-Date Performance: +33.3%
- All-Time High: $0.42157 (82.53% below current price)
What Is Astar (ASTR)?
ASTR is the utility token of Astar Network, a scalable, multi-chain Web3 platform founded in 2019 by Sota Watanabe (originally named Plasm Network). It serves as:
- Gas fee payment for transactions.
- Governance token for voting and referendums.
- Staking asset (89% of circulating supply is staked).
👉 Explore Astar’s staking rewards
Backing & Funding
- Raised: $24.4M from Alchemy Ventures, Binance Labs, Coinbase Ventures, and more.
- Total Supply: 8B ASTR (4.5B circulating).
Astar’s 2023 Milestones
- Binance Japan Launch: ASTR listed among 34 supported tokens.
- JVCEA Green List Approval: Accelerated listings on Japanese exchanges like HTX Japan and Bitbank.
- Fireblocks Integration: Enhanced institutional DeFi access for 650+ banks.
Astar 2.0 Vision: Tokenomics overhaul focusing on sustainable growth, including:
- DApp Stake Burning: Burns unclaimed developer rewards.
- Gas Fee Burns: 80% of fees already burned.
Strategic Partnerships
- Sony: Invested $3.5M in Startale Labs (Astar’s developer).
- Toyota: Co-hosted Web3 hackathons.
Crypto Market Overview
- Bitcoin: Trading at $29,485 (-2.6% weekly).
- Ethereum: Priced at $1,840 (-1.9%).
- Total Market Cap: $1.217T (+1.3%).
Macro Trends
- PayPal’s PYUSD: New Ethereum-based stablecoin launched.
- Institutional Outflows: $107M withdrawn from crypto funds (4th consecutive week).
FAQs
Q: Is ASTR a good long-term investment?
A: With partnerships like Sony and Toyota, plus its role in Japan’s Web3 ecosystem, ASTR shows promise for sustained adoption.
Q: How does Astar’s dApp staking work?
A: Users stake ASTR to support dApps, earning rewards while boosting network security.
Q: Why did ASTR drop from its ATH?
A: Broader crypto market downturns and profit-taking impacted prices, but fundamentals remain strong.
👉 Dive deeper into Astar’s tokenomics
Outlook
While altcoins face short-term volatility, Astar’s real-world collaborations and Web3 infrastructure innovations position it for potential growth during the next market rally. Stay updated on developments like:
- Astar 2.0’s phased rollouts.
- Expansion into Ethereum and Cosmos ecosystems.
Disclaimer: This content is for informational purposes only. Conduct your own research before investing.
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