Astar Network Records Impressive 26% Growth within a Week
The price of Astar Network’s (ASTR) token surged by 26% in the past week. Astar is utilizing the cross-virtual machine feature on Polygon (MATIC) and Polkadot (DOT) to provide personalized blockchain solutions in the Web3 space.
Astar’s zkEVM, which is a Layer-2 solution, is receiving significant attention as it aims to enhance the web3 experience on Ethereum (ETH) through zero-knowledge (ZK) technology. This innovative addition seamlessly integrates an EVM equivalent environment, ensuring compatibility with existing smart contracts, developer tools, and wallets on Ethereum.
The current value of Astar is $0.187, reflecting a 26% increase in the last seven days, according to data from CoinGecko. The price movement of ASTR has been remarkable since October 2023, starting from a minimal value of $0.0383. It is currently approaching the resistance level at $0.19, with a potential pullback to the $0.145 support level if it is rejected at the current resistance.
On the weekly timeframe, the RSI value of 90.9 provides insight into Astar’s market sentiment, suggesting caution for investors considering short-term positions.
Astar Network, a Polkadot parachain, recently launched Smart Contracts 2.0, demonstrating its commitment to innovation. Additionally, Astar unveiled an NFT campaign to celebrate the mainnet release of Astar zkEVM. This Ethereum layer-2 chain, powered by Polygon technology, embraces Astar Network’s Japanese roots by incorporating popular Japanese capsule machines. The campaign allows participants to explore projects on Astar zkEVM, completing quests to earn exclusive NFTs crafted by Astar Network and other participating projects.
Furthermore, Astar Network announced the launch of zKatana, a zero-knowledge (ZK) Ethereum layer-2 solution. This release represents a significant milestone in Astar’s roadmap, providing companies and developers with improved technology stacks for their projects.
Overall, Astar Network continues to make strides in the blockchain industry with its innovative solutions and commitment to mass adoption.
