Home
News
- 1 Astar Network (ASTR) launched the zkEVM L2 chain testnet last month and plans to expand this year.
- 2 ASTR bounced back from its lower dynamic support showing bullishness in the latest session.
Astar Network, a Japanese blockchain firm, has launched a new layer 2 chain called Astar zkEVM. It is a zero-knowledge chain that uses Polygon CDK to create a complete solution. The main aim of the zkEVM development is to connect businesses, developers, and users to Web3 and bridge the fragmented blockchain ecosystem in Japan and globally.
After completing its testnet last month, the zkEVM chain is expected to grow significantly this year, marking a significant step towards achieving the development’s objectives. However, the price jumped approximately 7% in the recent trading session after bouncing from its dynamic support.
Astar Network is a blockchain company from Japan that aims to link the scattered blockchain world and Web3. Astar zkEVM is a layer 2 chain that uses zero-knowledge proofs and Polygon CDK to enable fast, cheap, and secure cross-chain transactions and dApps.
Astar zkEVM launched its testnet and mainnet recently, with impressive results and innovative use cases, such as NFT games and tokenized tourism. It is designed to improve the Web3 user experience and empower developers and users with a large pool of liquidity and community resources.
It is part of the AggLayer network, which connects multiple ZK-powered chains and offers internet-scale capabilities to the crypto world. The Network also updated its tokenomics and integrated with leading Web3 services to support its long-term vision and ecosystem growth.
The network also launched Yoki Origins, a campaign that invites people to discover and collect Yoki, which are digital characters based on Japanese folklore.
Price Overview of ASTR Price
The intraday trading volume of Astar (ASTR) is $87.2 Million, which is a 107.00% increase from the previous day and indicates a surge in market activity.
The highest price paid for Astar crypto is $0.4216, which was recorded on January 17, 2022 (about 2 years ago). The current price is 63.03% lower than the all-time high price.
The lowest price paid for Astar crypto is $0.0327, which was recorded on October 13, 2022 (over 1 year ago). The current price is 376.63% higher than the all-time low price.
The fully diluted valuation (FDV) of Astar (ASTR) is $1.3 Billion. This is a theoretical representation of the maximum market cap, assuming all 8.4 Billion ETH tokens are in circulation today.
Technical Analysis of ASTR on Technical Chart
At the time of writing, Astar crypto (USD: ASTR) is trading above the 100 and 200-Day EMAs (exponential moving averages), which are supporting the price trend.
However, if buying volume rises, then the price might conquer new highs by making higher highs and lows. Hence, the ASTR price is expected to move upward giving bullish views over the daily time frame chart. The current value of RSI is 40.80 points. The 14 SMA is above the RSI line at 42.65 points which indicates that the Astar crypto is still in the bearish zone.
Summary
Astar (USD: ASTR) technical oscillators also support the bullish trend in the short term. The MACD, RSI, and EMAs highlight neutral indications and suggest neutrality in the trend.
Technical Levels
Support Levels: $0.1431 and $0.1149
Resistance Levels: $0.1927 and $0.2200
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
