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Astar Network (ASTR) is advancing its reach after South Korean mega exchange Upbit announced its plans to list the digital currency on its platform. This listing announcement sent the price of ASTR up 44% to $0.1194, with the 24-hour trading volume jumping parabolically to 2,880% to $406,063,178.
Godfrey BenjaminDespite being a Polkadot parachain, Astar Network has recorded a very slow month as its price, before this listing announcement, has been relatively flat on both the day chart and the weekly chart. With the massive price, Astar Network has now returned to its highest price level in 10 months, soaring as high as $0.1572.
According to Upbit, the projected support for ASTR/KRW was slated for 6:00 p.m. KST, meaning that as of the time of writing, the trading volume on the exchange contributed to a massive upsurge in the price of the ASTR.
Known as a region with a very high crypto engagement and adoption rate, extending Astar Network into the Korean market might considerably change its future liquidity provision as well as help steady its price from unpredictable fluctuations.
Vladislav SopovAstar Network and Korean focus
Of all the prominent Polkadot parachain protocols, Astar Network is known for its robust developmental activity and product listings. While it is a Japanese-based protocol, founder Sota Watanabe has revealed plans to also focus on the Korean market moving forward, considering that the country maintains a similar innovative spirit as Japan.
Since its inception, Watanabe has been exploring a lot of collaborations for Astar Network, and the effort has culminated in key partnerships like the one inked with Toyota, which birthed an acclaimed Hackathon.
Astar Network is very bullish on its plans as the visions behind Astar 2.0 are being shared with key stakeholders in its ecosystem.
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team