Get the latest updates on Astar Price (ASTR) doubling as the network prepares to add 15 new projects in April
April 1, 2022 20:24, UTC
Reading time: ~3 m
Following the successful completion of initial parachain auctions, the Polkadot (DOT) ecosystem has begun to acquire traction with the crypto community as the first chains go live and integrate with Ethereum (ETH).
Astar (ASTR) was one such Polkadot-based project that came to an conclude in March after the multi-chain brilliant contract platform caught the attention of retail crypto investors. and the organization.
Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.107 on March 22, the ASTR price surged 104% to a daily high of $0.208 on April 1 as demand for the token newspaper increased 20 times.
ASTR/USDT 4-hour chart. Source: TradingView
The three rationales for rallASTR include completion of a $22 million funding circular, expansion of the Astar ecosystem through protocol launches and partnerships, and increased users and entire lost worth. key on the Astar network.
Participating Institutional Investors
The development that helped kick off the progress Astar has made in 2022 was the successful completion of a $22 million fundraising circular on January 28.
Members of the fundraising campaign include Polychain, Alameda Research, Alchemy Ventures, Crypto.com Capital and Digital Finance Group, along with numerous angel investors such as Dr. Gavin Wood, Richard Ma and Keisuke Honda.
The fundraising follows the launch of Astar’s mainnet on January 17 and will be used to assist grow the Astar ecosystem to support both the Ethereum Virtual Machine (EVM) and WebAssembly, allowing developers to deploy existing Solidity contracts as well as Polkadot native brilliant contracts.
Expanded Astar Ecosystem
In the months since launching the mainnet, Astar has seen numerous projects launch on its network, and more are expected to be added in April.
Astar Season is coming
Welcome to new friends who just joined on @AstarNetwork in early April # Polkadot #Astar #cryptonews #blockchain #giveaway pic.twitter.com/6f1IPFa2DU
– Polkadot Nation (@PolkadotNation) April 1, 2022
The project is calling April “Astar Season” because it plans to launch at least 15 new projects on the network as part of an effort to attract new users.
Upcoming launches include decentralized finance (DeFi) protocols such as Avault and Alnari Finance, game protocol Astar Farms, and AstridDAO and ADAO’s decentralized autonomous organizations (DAOs).
Astar also recently revealed a new partnership with Oasys, a layer one blockchain built for game developers.
Related: Web3: Introducing the next billion users – The way forward
TVL network skyrocketed
The third factor driving the momentum for Astar is the influx of new users into the ecosystem, which now has more than 100,000 unique wallet addresses.
Another day, another large milestone Get excited about entire the growth we’re seeing on Astar Network! pic.twitter.com/mGUTcb4Gb4
– Astar Network | WASM + EVM HUB on Polkadot (@AstarNetwork) March 29, 2022
According to data from Defi Llama, due to the influx of new users and the launch of numerous projects on the network, the entire worth locked on Astar reached an entire-time high of $1.16 billion on April 1. , according to data from Defi Llama.
entire worth locked on the Astar Network. Source: Defi Llama
Recent growth has given Astar the largest TVL of entire Polkadot chains and made it the eighth ranked EVM compatible chain by TVL.
$1.3 billion in TVL. No. 8 EVM Blockhain. LFG pic.twitter.com/RNH5pLs1fm
– Astar Network | WASM + EVM HUB on Polkadot (@AstarNetwork) April 1, 2022
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