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- Through Astar 2.0, the team has a mission to onboard billions of global users to the Web3 industry, and plans are laid out to integrate other blockchains.
- The Astar (ASTR) token has gained about 36 percent in the past four weeks to trade around $0.058.
The Polkadot (DOT) network has attracted notable attention from Web3 developers seeking to scale to multichain capabilities. One of the leading Polkadot parachains, the Astar (ASTR) network has grown from just a small community to a mature Web3 ecosystem backed by reputable industry investors.
According to the latest crypto market data, Astar network had a market capitalization of about $275,174,588 and a 24-hour trading volume of approximately $18.48 million. As a thriving Web3 network, the Astar ecosystem has a total value locked (TVL) of about $31.88 million with a stablecoins market capitalization of approximately $7.34 million.
The growth of the Astar network has been facilitated by a vibrant community of developers with several decentralized applications (Dapps) already in operation including Arthswap, Algem, and AstridDAO, among many others.
Next Phase for the Astar Network
Having come a long way to be crowned the leading Parachain in the Polkadot ecosystem, the Astar network has embarked on the next phase of its development to achieve mainstream adoption of Web3 technology. According to Astar network founder Sots Watanabe, the next major update dubbed Astar 2.0 Supernova is scheduled to be available for the public on September 13 during the Token2049 event.
On the road to Astar 2.0 Supernova, the team had to undertake five stages to ensure a seamless transition from testnet to public mainnet.
Astar has become the biggest #Polkadot parachain and the most adopted enterprise network in the ecosystem after 2 years of development, and now it is about to announce its biggest update:
ASTAR 2.0 SUPERNOVA. pic.twitter.com/PVUwr0buKF
— Pitc⬡in 🇧🇷 ❤️ Memecoin (@pitcoin_) August 16, 2023
The Astar network team timed the launch of the Astar 2.0 supernova during the crypto bear market coupled with the fact that Japan is preparing to attract more Web3 investors to exponentially grow its economy.
Since the launch of the Japan BizDev Team, we have been working on partner development and collaboration while feeling the depth of the assets that our founders have built up. I’m sure SuperNova will be the biggest tailwind for BizDev, and I’m even preparing the team for that time.
Yuhong Chen, the head of business development at Astar Network Japan, recently noted.
Having successfully ventured into the Polkadot network, the Astar network team intends to integrate with other blockchains, with Justin Sun-backed Tron network in the pipeline. In the future, the Astar network hopes to host the Japanese CBDC, which is set to roll out in the coming years to the general public.
12/ Or maybe an official announcement that Japanese CBDC would be launched on the Astar Network blockchain could be another game-changing hunch for Astar. Who guess it?https://t.co/pJMRf2Y6pA
— Pitc⬡in 🇧🇷 ❤️ Memecoin (@pitcoin_) August 16, 2023
On the Flipside
The notable success of the Astar network is expected to reciprocate to the Polkadot ecosystem through increased on-chain activities. Notably, the Polkadot ecosystem has grown to a $6.3 billion valued network. According to the latest crypto market data, DOT’s price traded around $4.75 on Tuesday, down approximately 10 percent in the past four weeks.
