Astar Network (ASTR), Polkadot’s leading parachain technology, has had an incredible price surge over the last day that is surprising market bears. According to statistics from CoinMarketCap, the digital currency is currently trading for $0.1612, up 25.24% over the previous day. Given the current situation, Astar Network’s weekly gains have increased to 51.18%, and its monthly gains have surpassed 129%.
Impressive or parabolic price runs are nothing new for Astar Network, and its latest output has several undertones related to technology and community support initiatives.
Astar has a plan in place to update its protocol through Astar 2.0, which is expected to launch this year. Astar 2.0 will bring about a number of technological innovations, such as the fair allocation of block resources and the implementation of an efficient burn mechanism.
Users of Astar are eagerly anticipating this new network rebirth, but the community is also demonstrating its worth outside of blockchain by lending its assistance to those affected by the most recent earthquake in Japan. Members of the Astar ecosystem have developed a contribution stream to assist the initiative.
Astar price outlook: How high can ASTR rise?
Astar Network has a busy year ahead of it. In addition to the objectives and benchmarks listed, the protocol’s strategic alliances signed in 2023 could already be having an effect.
The parachain protocol is already among the top-performing coins of the new year, with Astar trading for $0.1625; nevertheless, it is still 60% behind its all-time high (ATH) of $0.3353. With a longer-term aim of $0.25 by the end of the first quarter, ASTR’s token might conclude the week at a more stretched price of $0.185 if its present growth trend holds.
