Astar Network gains 26% in 7 days on heels of Polkadot, Polygon partnership

Astar Network’s (ASTR) token witnessed a 26% price increase in the past week. Leveraging the cross-virtual machine feature on Polygon (MATIC) and Polkadot (DOT), Astar delivers personalized blockchain solutions in the Web3 space.

Astar’s market dynamics

Astar’s zkEVM takes center stage as the new Layer-2 solution, promising to scale the web3 experience on Ethereum (ETH) with zero-knowledge (ZK) technology.

This innovative addition seamlessly integrates an EVM equivalent environment, maintaining compatibility with existing smart contracts, developer tools, and wallets on Ethereum.

Asta current value is $0.187, representing a 26% increase in the last seven days, per data on CoinGecko data.

The price movement of ASTR beginning with October 2023 has been fascinating, jumping from a minimal value of $0.0383.

Currently, it hovers around the resistance level at $0.19, with cautionary notes of a potential pullback to the $0.145 support level in case of rejection at the current resistance.

On the weekly timeframe, the RSI value of 90.9 adds a layer of insight into Astar’s current market sentiment, signaling potential caution for investors eyeing short-term positions.

Astar Network’s innovation

In a move that mirrors its commitment to innovation, Astar Network, a Polkadot parachain, unveiled an NFT campaign celebrating the mainnet release of Astar zkEVM, the Ethereum layer-2 chain powered by Polygon technology.

Scheduled for the first quarter of 2024, the NFT campaign embraces Astar Network’s Japanese roots by incorporating popular Japanese capsule machines.

These machines, synonymous with surprises and randomness, will be the mechanism for awarding random prizes to participants.

To participate in the campaign, users are invited to explore the projects available on Astar zkEVM, unlocking a world of on-chain and off-chain quests.

These quests, when completed, lead to rewarding experiences, including access to exclusive NFTs crafted by Astar Network and other participating projects.

The campaign is a journey inspired by Japanese folktales. Each reward will be presented through virtual capsule machines, uniquely customized by the projects involved.

Among the treasures are Japanese-inspired characters that users can mint, collect, and interact with, creating a digital folklore tapestry.

In addition, Astar Network announced the launch of zKatana – a zero-knowledge (ZK) Ethereum layer-2 solution.

This release marks a major step forward in Astar’s Roadmap process to ensure companies or developers have better technology stacks for their projects.