u.today
The frontline Polkadot (DOT) parachain network, Astar (ASTR), has made headlines again after unveiling its latest milestones to its community. Taking to its official X account, Astar Network said it has surpassed 650,000 ASTR holders, a figure that underscores its rapid embrace across the Web3.0 ecosystem.
To complement this milestone, Astar Network said the total number of ASTR staked to projects within its ecosystem has topped 3.4 billion tokens. This figure is immense because Astar as a protocol has only 5,497,786,775 ASTR in circulating supply, according to data from CoinMarketCap.
Commenting on the historic milestones, Astar Network said it has successfully incentivized various teams within the ecosystem to develop usable products for their users to engage with the protocol. It went on to name some of the projects with functional products that are contributing to the growth.
These projects include DeStore Network, which is revolutionizing customer branding, Neurolanche and SFY Labs, which is building a gaming engine, and Kekkai, a Web3.0 security platform.
🌟 We've surpassed 650K Holders! 🎉
— Astar Network (@AstarNetwork) January 17, 2024
With over 3.4 billion ASTR staked to projects!
What are the key drivers to our growth, you ask?
Easy! Various teams being incentivized to build on Astar have introduced some exciting new products, as well as activities for their supporters… pic.twitter.com/TxjrzhZYT0
This is the secret to Astar’s growth as it has always focused on real-world use cases, as showcased in its series of partnerships with different industry giants like Toyota and the Japanese Railway Operator, among others.
Astar (ASTR) price response
The Astar Network update has caused a relatively bullish shift in the price of its native token, ASTR. Per data from CoinMarketCap, ASTR is changing hands for $0.1658, up by 4% in the past 24 hours. This growth has complemented its weekly surge of 7.68%, positioning it as one of the best-performing altcoins on the market overall.
Astar Network is eyeing a major rebranding through what it dubbed Astar 2.0. With plans to drive enhanced network functionalities, the protocol is poised to continually see more embrace that can ultimately help ASTR achieve its long-term growth ambitions.