Polkadot (DOT) frontline parachain network, Astar (ASTR), has made headlines again after unveiling its latest milestones to its community. Taking into account its official X account, Astar Network said it has surpassed 650,000 ASTR holders, a figure that highlights its rapid embrace of the Web3.0 ecosystem.
To complete this milestone, Astar Network said that the total number of ASTRs committed to projects within its ecosystem has exceeded 3.4 billion tokens. This figure is immense because Astar as a protocol only has 5,497,786,775 ASTRs in circulation, according to CoinMarketCap data.
Commenting on the historical milestones, Astar Network said it has successfully incentivized various teams within the ecosystem to develop usable products for its users to interact with the protocol. He then mentioned some of the projects with functional products that are contributing to growth.
These projects include DeStore Network, which is revolutionizing customer branding, Neurolanche and SFY Labs, which is building a game engine, and Kekkai, a Web3.0 security platform.
🌟 We have exceeded 650K Holders! 🎉
With over 3.4 billion ASTR invested in projects!
What are the key drivers of our growth, you ask?
Easy! Various teams incentivized to build on Astar have introduced some exciting new products, as well as activities for their backers… pic.twitter.com/TxjrzhZYT0
– Astar Network (@AstarNetwork) January 17, 2024
This is the secret to Astar’s growth as it has always focused on real-world use cases, as demonstrated in its series of partnerships with several industry giants such as Toyota and the Japanese rail operator, among others.
Astar Price Response (ASTR).
Astar Network’s update caused a relatively bullish shift in the price of its native token, ASTR. According to data from CoinMarketCap, ASTR is trading at $0.1658, up 4% over the past 24 hours. This growth complemented its weekly increase of 7.68%, positioning it as one of the best-performing altcoins in the overall market.
Astar Network is eyeing a major rebranding through what it has dubbed Astar 2.0. With plans to drive improved network capabilities, the protocol is poised to see growing acceptance that can ultimately help ASTR achieve its long-term growth ambitions.
