The blockchain ecosystem has come a long way. From smart contracts to NFTs, they all have propped up in isolation from one another. Fortunately, the space amongst these platforms and products have diminished since the advent of Astar Network.
Based in Japan, the crypto platform Astar Network has become one of the well-known success stories in the blockchain world. It slumped to a historic low in June 2023 has since then more than doubled its value today.
In this article, we will delve into the Astar Network and investigate the performance of its native token ASTR.
We will first give you a small background of the platform, then tell you about its core technologies. Before concluding, we will guide you on how you can buy its token, its market performance and use cases.
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Introduction to Astar Network (ASTR)
Astar Network is a parachain of the Polkadot blockchain platform. It is the center of decentralized applications like Ethereum Virtual Machines (EVM), Web Assembly (WASM) and scaling solutions called Layer-2.
DApp developers can now easily interact with each other on different blockchain networks, thereby making the most out of Astar Network’s most vital feature of interoperability.
Some of the key features of this platform include its Build2Earn program, sharded architecture, cross-consensus messaging (XCM), and of course the multi-chain app development ability. They have made Astar Network a unique proposition in the blockchain ecosystem.
It rightly calls itself as having been made by developers and for the developers, paving the way for wider adoption. The founder of Astar Network is Sota Watanabe and its CEO is Startale Labs.
Sota founded Plasm network back in 2019, which has now become Astar since 2021. It was only until 2022 when it rolled out its own native token.
The Genesis of Astar Network
Astar is an open-source project that anyone can contribute to. The founding vision and mission of Astar Network are to provide a scalable, interoperable and decentralized platform that redefines Web3.
In 2021, it secured one of the five slots in the Polkadot parachain auction. At genesis, most of its supply of native tokens was allocated to users and early supporters at 30%.
According to Crunchbase, Astar Network raised around 24 million dollars in four investment rounds. Investors included notable names like Polychain, ROK Capital and Gavin Wood. That means Astar Network is quite trustworthy when it comes to the reputation of the people behind it.
Astar Network’s Technological Infrastructure
Astar Network has shown immense potential in its technological infrastructure. In the blockchain industry, Astar aims to resolve the challenge of developer incentives by its Build2Earn program. It allows developers to earn incentives for building and maintaining their dApps, thereby encouraging growth of the ecosystem.
Astar Network is a parachain of the Polkadot blockchain platform. It is the centre of decentralized applications like Ethereum Virtual Machines (EVM), Web Assembly (WASM) and scaling solutions called Layer-2.
Most of the time, there is an upper limit to the amount of data that can be stored in individual blocks of a blockchain, understandably so due to security reasons. Here, Astar Network comes in with its multi-chain smart contracts that allows you to work across the Polkadot ecosystem.
DApp developers can now easily interact with each other on different blockchain networks, thereby making the most out of Astar Network’s most vital feature of interoperability.
Other blockchain platforms rarely provide this kind of interoperability as Astar Network does, which allows developers to use and build smart contracts by integrating multiple blockchains and applications. This type of interoperability looks unprecedented.
Tokenomics of ASTR
The native token of Astar Network is its Astar Token or ASTR. Its total initial supply is 7 billion units. Its current tokenomics model of the network is inflationary and the inflation is expected to be 665 billion per year. The ASTR token has 18 decimals.
In 2021, it secured one of the five slots in the Polkadot parachain auction. At genesis, most of its supply of native tokens were allocated to users and early supporters at 30%.
The ASTR token works as the primary form of transaction fee, staking rewards, and for overall governance of the project.
ASTR’s Utility and Use Cases
ASTR token has many use cases and utility functions. It is not only the native token of Astar Network, but also its utility token. Its use cases include fee payment, dApp staking, governance and as layer-2 deposits.
DApp staking is one use case of ASTR. DApp staking was originally invented by the Astar Network itself. Under this model, holders of ASTR token can stake them on dApps and earn rewards in return.
The tokens are also used for transaction fees, layer-2 deposits and on-chain governance. Layer 2 application developers make a deposit on the layer 1 smart contract. That way, they create layer-2 apps.
Other use cases include network staking, in which token holders stake them on the network to work as validators.
How to Acquire ASTR Tokens
ASTR can be bought on many exchanges, like KuCoin and Binance. KuCoin is a secure cryptocurrency exchange that has been operating since 2017. Binance is also a reliable and user-friendly cryptocurrency trading platform.
Acquiring ASTR tokens is a simple and easy process. To buy ASTR token, go to your favorite crypto exchange website. Here, we will tell you how to acquire ASTR tokens on Binance.
Of course, the first step is to head to the official website of Binance. The second step is to create an account on the Binance website or the mobile app.
Thirdly, choose how you want to buy the token. Click on the ‘Buy Crypto’ button on the top of your webpage. You can choose between debit/credit cards, Google Pay or Apple Pay, and third party channels.
After selecting the amount of tokens and payment method, confirm your order in one minute. After a minute, your order will be recalculated based on the latest market price.
Finally, store your ASTR token in your personal crypto wallet. Alternatively, you can simply hold it in your Binance account, trade it for other crypto, or even stake it on Binance Earn to capitalize on it; whichever you prefer.
Binance Earn is a dedicated feature of Binance that allows investors to see all the possibilities of earning at one place on a single platform.
Various wallets that are compatible with ASTR tokens include EnKrypt Wallet, MetaMask AStar Wallet Snap, and SubWallet.
Astar Network’s Market Performance
Astar Network is a smart contract platform that has previously collaborated with several large Japanese enterprises and recently launched the zkEVM network based on Polygon.
Market performance of Astar Network has been quite interesting. At the time of writing, the market price of Astar is $0.099895 per (ASTR/USD). According to Binance, 25% of users are very bullish on ASTR.
It slumped to a historic low in June 2023 has since then more than doubled its value today. The coin has managed to recover since reaching its all-time low in June last year. It was the news of Sony deciding to work with Astar Network that pushed it to a much needed price boost.
Recent updates from the platform have the power to affect ASTR’s market performance and value. Astar zKatana has announced that it is now live on Subgraph Studio.
It has also been unraveled that decentralized data indexing is available for developers building the first dApps for Astar zkEVM.
According to BlockBeats, Astar Network founder Watanabe has said that the next few months are ‘very important’ for the company, as they develop a new public blockchain in collaboration with Sony.
Sony has applied for a patent for the concept of ‘super-fungible tokens’ to be used for NFT transmission in gaming ecosystems on the blockchain. But Watanabe has mentioned that the blockchain under development is not solely focused on gaming or NFTs.
Now that is something motivational for hopeful investors of the ASTR token! We hope that Astar Network will not let them down.
There may be better options than ASTR if you’re looking to invest in this token. But as with every crypto, it is important to do your own research before deciding whether to invest in ASTR or not.
Conclusion
Astar Network, a rising star in the blockchain world, is built on Polkadot and offers features like Ethereum Virtual Machine and Web Assembly compatibility to developers.
Founded in 2019 by Sota Watanabe, Astar Network secured a parachain slot on Polkadot in 2021. ASTR, the platform’s native token, is used for transaction fees, staking rewards, and governance.
ASTR is available on major cryptocurrency exchanges like Binance and KuCoin. Investors can store their tokens in various wallets including EnKrypt Wallet and MetaMask.
Note that Web 3.0 still has a long way to go and there is only so much that Astar Network can do to take its scalability to new heights. But who knows, Astar can be the very first step to revolutionize the way we interact with the blockchain.
We Coin-Labs.com provides only objective information about Astar Network (ASTR).
Therefore, we are not responsible for the investment decision in Astar Network (ASTR) and the resulting loss.
Astar Network (ASTR) Basics
Here are some factors that investors should consider before investing in Astar Network (ASTR).
| Cryptocurrency Features | Astar Network (ASTR) (ASTR) |
|---|---|
| Publisher or Developers | STAKE TECHNOLOGIES PTE. LTD. |
| Headquarters (Registration Number) | |
| Symbol | ASTR |
| Platform | |
| Published Date (CMC Registration) | 2024-11-01 |
| Max Supply | No limit |
Reliability Score of Astar Network (ASTR) in 2024
These are indexes mesuring the investment reliability of Astar Network (ASTR) conducted by Coin-Labs.com.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | / 10.0 CAR |
| Communication Rate | / 10.0 CR |
| Technology Transparency Rate | / 10.0 TTR |
| Development Participation Rate | / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 6 Exchanges |
| Number of Available Pairs Worldwide | 120 Pairs |
| Market Cap of the Cryptocurrency | 1,003,338,787 USD (Rank #61) |
The table above shows the result of investment suitability evaluation for Astar Network (ASTR).
Check out how we evaluate cryptocurrencies on the crypto rating description page.
Astar Network (ASTR) Price
Here are the price and recent trading volume of Astar Network (ASTR). (Data of 2024-11-02 00:35:00)
| Price Items | Price and Trading Volume of Astar Network (ASTR) |
|---|---|
| Astar Network (ASTR) Price | 0.054 USD |
| Price Change 24h | -0.85% |
| Price Change 7d | -7.74% |
| Trading Volume 24h | 16,151,193 USD |
| Trading Volume Change 24h | 20.29% |
Cryptocurrency Metadata
You can check the development status and social media information of Astar Network (ASTR) through the links in the table below.
| Metadata Source | URL |
|---|---|
| 🌎 Official Website | https://astar.network/ |
| 📖 White Paper | https://docs.astar.network/ |
| 🛰️ Source Code (GitHub) | https://github.com/AstarNetwork/Astar |
| https://twitter.com/AstarNetwork | |
| 🎺 Message Board | https://forum.astar.network |
Where to Buy Astar Network (ASTR)
Here are the top ten world crypto exchanges where traders can buy Astar Network (ASTR) in 2024.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Listed | https://www.binance.com/en/trade/ASTR_USDT |
| Coinbase | Not listed | |
| Kraken | Listed | https://pro.kraken.com/app/trade/astr-usd |
| KuCoin | Listed | https://www.kucoin.com/trade/ASTR-USDT |
| Bitfinex | Not listed | |
| OKX | Listed | https://www.okx.com/trade-spot/astr-usdt |
| Huobi | Listed | https://www.htx.com/trade/astr_usdt |
| Bitstamp | Not listed | |
| Bybit | Not listed | |
| Gate.io | Listed | https://www.gate.io/trade/ASTR_USDT |
Frequently Asked Questions
What is the current price of Astar Network (ASTR)?
Astar Network (ASTR) price today is 0.054 USD. Furthermore, the price of Astar Network (ASTR) has fluctuated by -0.85% from 24 hours ago, and by -7.74% from a week ago.
Where is Astar Network (ASTR) listed?
Currently, it is listed on a total of 6 among the world top 10 exchanges.
What is the market cap of Astar Network (ASTR) now?
Currently, Astar Network (ASTR) has a market cap of 1,003,338,787 USD, which is ranking 61 among cryptocurrencies worldwide.
How much is the trade volume of Astar Network (ASTR)?
Currently, 7,392,396,372 ASTR coins are circulating through 120 market pairs. As a result, in the last 24 hours, 16,151,193 USD of ASTR coins were traded in the market.
