Polkadot’s Astar (ASTR) Jumps 25%, Here’s Potential Reason

Polkadot’s top parachain protocol, Astar Network (ASTR), is dazzling market bears with its impressive price rally in the past 24 hours. At the time of writing, the digital currency is changing hands for $0.1612, up by 25.24% over the past 24 hours, according to data from CoinMarketCap. With the current outlook, Astar Network has extended its gains for the past week to 51.18%, with the monthly gains surpassing 129%.

It is not uncommon for Astar Network to print impressive or parabolic price runs, and this upshoot coming at this time has a series of undertones bordering on technology and community support schemes.

Astar has a roadmap to upgrade its protocol in what is being called Astar 2.0, which is billed to materialize this year. The Astar 2.0 drive will herald some technological advances that include an equitable distribution of block resources and an effective burn mechanism put in place.

With Astar users looking forward to this new network rebirth, the community is also proving to hold value beyond blockchain as it has extended its support to victims of the Japanese community currently impacted by the recent earthquake in the country. A donation stream has been created, with members of the Astar ecosystem supporting the push.

Astar price outlook: How high can ASTR rise?

Astar Network has an eventful year ahead, and besides the outlined goals and milestones, the protocol’s strategic partnerships inked in 2023 may start showing their impact soon.

With Astar’s price of $0.1625, the parachain protocol is already one of the best-performing tokens of this new year; however, it remains 60% below its all-time high (ATH) of $0.3353. Should ASTR sustain its current growth momentum, the token can end the week at a more stretched price of $0.185, with a longer-term target of $0.25 before the end of the first quarter.

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