Polkadot's Astar Network (ASTR) Prints Rare 12% Surge, Here's Reason

Astar network (ASTR), one of the first parachains on the Polkadot blockchain, is leading the market's recovery today with its more than 12% price surge. At the time of writing, ASTR is changing hands at a price of $0.06563, a level that is propped up by the more than 59% jump in trading volume over the past 24 hours to $24 million.

Timeline of Astar, Polkadot-new

Although the majority of the cryptocurrency market is going through a bit of a rough patch in recent weeks that has seen even its largest asset by market capitalization – Bitcoin (BTC) – drop below the $26,000 threshold, some cryptocurrencies, available under a low price per wholecoin, are demonstrating strong potential.

The concept of the “blockchain of blockchains,” Polkadot ($DOT), has surged ahead to claim the top spot in terms of cryptocurrency network development activity, as revealed by data from on-chain analytics firm Santiment. This distinction places Polkadot ahead of Kusama ($KSM), its public pre-production environment, and Cardano ($ADA), a smart contract platform.

PolkaSafe on the Polkadot network proposes to make new changes and hints at collaboration with various firms. Despite new developments, Polkadot fails to see growth on the social front.

Although Polkadot showed some recovery on the price front, its social metrics didn't exactly paint an all-bullish picture. To add to the misery, DOT's price indicators also needed some recovery.

Interoperability blockchain Polkadot (DOT) and its canary test network Kusama (KSM) continue to outrun the rest of the crypto space in terms of development activity, according to the crypto analytics firm Santiment. Santiment notes that Polkadot and Kusama both registered 527.7 notable GitHub commits in the past 30 days, leading all other crypto projects.

Astar Network, one of the most prolific parachains on the Polkadot network, has unveiled the Astar 2.0 Vision as it looks to pivot toward more futuristic innovations to contribute more to the evolution of the protocol as a whole. The Astar 2.0 Vision covers key aspects of the network as concerns token redesign, organizational structure and the technological foundations to boost the Web3.0 embrace.

Fireblocks has now incorporated Astar Network. With the new integration, over 650 banks and financial institutions can now tap into Astar's thriving DeFi ecosystem, as well as trade, swap, and lend digital assets on Astar via Fireblocks.

The Polkadot (DOT) price failed to break out from a key diagonal resistance line for the fourth time. It trades close to the convergence of important support and the aforementioned diagonal resistance.

The relay chain has a protocol that is designed to evaluate the shared network security, cross-chain interoperability, and consensus mechanism. It ensures that the participants stay in touch normally as well as performing transactions properly.

Polkadot (DOT) has enjoyed a successful three-week period, with bullish investors maintaining their position at the forefront despite fluctuations in the market. In addition, the recent legal victory of Ripple against the US Securities and Exchange Commission triggered a positive response across the entire market, benefiting not only significant cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) but also altcoins in general.