Why Astar (ASTR) is Growing and What is The Price Prediction For 2024
ASTR is up 23.11% in the last 24 hours, hitting $0.1666 at the time of writing. And in the last 7 days, it's up 56.83%. What is the reason for this growth?
Astar (ASTR) crisis
Astar launched in 2019 under the name Plasma and didn't immediately win the love of investors. To attract the market's attention, developers had to constantly update the network and enter into partnerships over time.
In November 2023, analysts from Zellic discovered a vulnerability in Astar that could be used by an attacker to steal $400,000 worth of tokens. The company sent a message to the development team and the problem was quickly fixed. This incident did not affect the dynamics of the price of the network's native token.
Why Astar (ASTR) is growing?
Today, the asset joined the general bullish momentum by showing such a significant growth. The market is confident that the SEC will soon approve a Bitcoin ETFs. Following the significant Bitcoin growth, other altcoins are also seeing gains. However, when it comes to ASTR, there is another reason for the positive price dynamics of this asset.
Recently, the Astar Network's team announced a number of upgrades and partnerships, which only strengthened the asset's position in the market. An important milestone for ASTR came last month, when South Korean cryptocurrency exchange Upbit listed the token. At that time, ASTR recorded a 70% growth. The listing on Bitrue also influenced the price growth.
Recent updates regarding ASTR's improved tokenomics have attracted more market participants: investors and developers. ASTR has adjusted inflation factors, gas fees, and staking fees. Meanwhile, the Astar Link initiative addresses challenges in the blockchain industry by offering developers one-stop solutions and facilitating connections between different ecosystems.
Thus, the Astar ecosystem has made strides over the year, strengthening the position of the ASTR token, which rose 321.60% over the year.
Astar (ASTR) forecast for 2024
ASTR is up 23.11% in the last 24 hours, hitting $0.1666 at the time of writing. And in the last 7 days, it's up 56.83%.
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Experts are confident that ASTR will continue its surge in 2024 and could once again reach its all-time high of $0.3353 if the ecosystem continues to develop and update regularly and market momentum and investor sentiment is positive.
This forecast is not a 100% statement. The cryptocurrency market is known for its volatility and unpredictability. Be cautious and remember the importance of doing your own research.
