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Polkadot's Astar Network (ASTR) Prints Rare 12% Surge, Here's Reason

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Wed, 23/08/2023 - 13:47
Polkadot's Astar Network (ASTR) Prints Rare 12% Surge, Here's Reason
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Astar network (ASTR), one of the first parachains on the Polkadot blockchain, is leading the market's recovery today with its more than 12% price surge. At the time of writing, ASTR is changing hands at a price of $0.06563, a level that is propped up by the more than 59% jump in trading volume over the past 24 hours to $24 million.

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The movements being recorded on ASTR are not without a strong basis as the protocol has shown it is making serious advancements in its ecosystem. The earlier-inked partnership with Sony is yielding positive results as the parachain noted that it is seeing a growing number of sign-ups to its incubation program.

Of all the parachain networks resident on Polkadot, Astar is known to have very robust and innovative products and solutions that are notably interspersed with solid collaborations. One of the most acclaimed of these collaborations is that with the Japanese railway operator, which launched its non-fungible tokens (NFTs) on its protocol.

Astar network has been working assiduously to gain prominence both among retail users as well as among enterprises looking to build on the platform.

Astar 2.0 vision

The future growth of the Astar network closely hinges on the next iteration of its vision as contained in the Astar 2.0 vision revealed a few weeks ago.

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As reported at the time the vision was unveiled, the protocol will undergo a comprehensive redesign as well as a major shift in its organizational structure to truly benefit from an emerging functional Web3.0 ecosystem.

The strides of the Astar network have been properly showcased in its price performance and technological outlook over the past year. With the current uptick, the ASTR token is poised to retest the resistance point at $0.07 in the mid to long term.

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