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A significant listing announcement has been made for Astar Network (ASTR), a network aimed at helping to create an interoperable Web3 infrastructure. Upbit, South Korea’s largest cryptocurrency exchange, announced that it will list ASTR. Following the listing announcement, the altcoin’s price surged by double digits.
Upbit’s Announcement Leads to Double-Digit Increase for ASTR
With its volume, Upbit, South Korea’s largest cryptocurrency exchange, announced that it will list Astar Network’s ASTR. Accordingly, Upbit will start trading operations for the altcoin today against the South Korean won.
The listing announcement led to a double-digit increase in ASTR’s price. Before the announcement, the altcoin was trading around $0.075, and its price surged over 70% to $0.1481 following the announcement.
What is Astar Network (ASTR) Coin?
Astar Network is a network that assists developers in creating decentralized applications (dApps) and second-layer solutions by providing interoperable Web3 infrastructure, financial incentives, incubation programs, and technical support. It aims to provide the best solution for all developers by supporting the Ethereum Virtual Machine (EVM) and creating parachain structures where EVM and WASM smart contracts can work together and communicate with each other.
Astar Network connects the Polkadot ecosystem to first-layer Blockchain networks such as Ethereum (ETH) and Cosmos (ATOM). As a Polkadot Parachain, the project is designed as a multi-chain Polkadot dApp hub that supports DeFi, NFT, and DAO structures, allowing developers to go beyond the infrastructure and focus more on application development.
The project, supported by Binance Labs and Coinbase Ventures, operates on two layers: the first layer is built on the Substrate framework, while the second layer uses the Optimistic Virtual Machine (OVM) to create scalability.