Why Did Astar (ASTR) Rise?
Astar (formerly known as Plasm) is a multi-chain decentralized application (dApp) platform operating on the Polkadot network. Astar supports Ethereum Virtual Machine (EVM), Web Assembly and Layer 2 solutions, enabling a wide range of application developers to build smart contracts on the platform.
ASTR, the native token of the network, is used to earn rewards for participating in the management of the network, calculating transaction fees, and locking tokens. Astar also offers a special reward system to app developers and a significant portion of a share reward is distributed to these developers.
It is stated that the ASTR token has increased by 15.29% in the last 24 hours and is traded at approximately 1.38 TL. It may be a result of the volatile outcomes of such price currencies, cryptocurrencies. However, this currency may be noteworthy for cryptocurrencies and cryptocurrencies.
Astar launched the testnet called zkEVM and announced that it is supported by the Polygon Chain Development Kit (CDK), which offers an Ethereum compatible scalability solution. This makes it easier for Ethereum developers to integrate into the Astar platform using existing tools and infrastructure. The launch announcement may have been instrumental in Astar Network’s rise.