Astar (ASTR) price doubles as the network prepares to add 15 new projects in April

Following the palmy completion of its archetypal parachain auctions, the Polkadot (DOT) ecosystem has begun to summation traction with the cryptocurrency assemblage arsenic the archetypal chains statesman to travel online and integrate with yh Ethereum (ETH). 

Astar (ASTR) is 1 specified Polkadot-based task that finished disconnected the period of March connected a blistery streak aft the multi-chain astute declaration level attracted the attraction of retail and organization crypto investors.

Data from Cointelegraph Markets Pro and TradingView shows that aft hitting a debased of $0.107 connected March 22, the terms of ASTR has climbed 104% to a regular precocious astatine $0.208 connected April 1 arsenic request for the token accrued 20-fold.

ASTR/USDT 4-hour chart. Source: TradingView

Three reasons for the rallASTR see the completion of a $22 cardinal backing round, the enlargement of the Astar ecosystem done protocol launches and partnerships and an summation successful users and full worth locked connected the Astar network.

Institutional investors heap in

The improvement that helped kickstart the advancement Astar has made successful 2022 was the palmy completion of a $22 cardinal fundraising round on Jan. 28.

FParticipants of the fundraiser included Polychain, Alameda Research, Alchemy Ventures, Crypto.com Capital, and Digital Finance Group, on with aggregate angel investors specified arsenic Dr. Gavin Wood, Richard Ma, and Keisuke Honda.

The fundraise followed the mainnet motorboat of Astar connected Jan. 17 and volition beryllium utilized to assistance make the Astar ecosystem to enactment some Ethereum Virtual Machine (EVM) and WebAssembly, allowing developers to deploy existing Solidity contracts arsenic good arsenic Polkadot autochthonal astute contracts.

The Astar ecosystem expands

In the months since launching its mainnet, Astar has seen aggregate projects motorboat connected its web and is anticipating the summation of adjacent much successful April.

Astar Season is coming
Welcome to caller friends conscionable joining connected @AstarNetwork successful aboriginal April#Polkadot #Astar #cryptonews #blockchain #giveaway pic.twitter.com/6f1IPFa2DU

— Polkadot Nation (@PolkadotNation) April 1, 2022

The task is referring to the period of April arsenic “Astar Season” due to the fact that it has plans to motorboat astatine slightest 15 caller projects connected the web arsenic portion of its propulsion to pull caller users.

Upcoming launches see decentralized concern (DeFi) protocols specified arsenic Avault and Alnari Finance, the gaming protocol Astar Farms and the AstridDAO and ADAO decentralized autonomous organizations (DAOs).

Astar has besides precocious revealed a caller concern with Oasys, a layer-one blockchain built for crippled developers.

Related: Web3: Onboarding the adjacent cardinal users — The roadworthy ahead

Network TVL soars

A 3rd origin propelling the momentum for Astar has been the inflow of caller users to the ecosystem, which present has much thangreater than 100,000 unsocial wallet addresses.

Another day, different milestone Feeling excited astir each the maturation we are seeing connected Astar Network! pic.twitter.com/mGUTcb4Gb4

— Astar Network | WASM + EVM HUB connected Polkadot (@AstarNetwork) March 29, 2022

As a effect of the inflow of caller users and the motorboat of aggregate projects connected the network, the full worth locked connected Astar deed a caller all-time precocious of $1.16 cardinal connected April 1, according to data from Defi Llama.

Total worth locked connected the Astar Network. Source: Defi Llama

The caller maturation has fixed Astar has the largest TVL of each the Polkadot parachains and helped it to go the eighth-ranked EVM-compatible concatenation by TVL.

$1.3B successful TVL. No. 8 EVM Blockhain. LFG pic.twitter.com/RNH5pLs1fm

— Astar Network | WASM + EVM HUB connected Polkadot (@AstarNetwork) April 1, 2022

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