Astar Price Prediction 2024: Is ASTR’s Recovery Over?
Can Astar continue to move away from its all-time low?
Key Takeaways
- ASTR has recovered since reaching an all-time low in June 2023.
- The Astar platform is designed to support people who want to create decentralized applications (dApps).
- The news that it was working with tech giant Sony on a blockchain gave the price a boost in the middle of September 2023.
- One Astar price prediction says the token can reach $0.59 by 2025.
Japanese-based crypto platform Astar’s ASTR token has been one of the biggest success stories in crypto lately. It has recovered from a record low in June 2023 to close the year nearly 250% higher than it started it.
Not only that, but the news that its subsidiary Startale was working on a blockchain for tech giant Sony saw more interest in the crypto.
In a statement, Astar founder and Startale CEO Sota Watanabe said: “This joint venture is founded on the synergy of our respective assets and knowledge, aimed at co-developing leading blockchain and its ecosystem. We are determined to discern web3 trends and drive them globally.”
In August 2023, the announcement of revamped tokenomics, which would see it destroy, or burn, more tokens in a bid to keep ASTR high saw its price rise. Meanwhile, a partnership with digital assets platform Fireblocks has also boosted interest in the crypto.
Astar aims to support decentralized application (dApp) developers.
Astar did not immediately respond to a request for comment
But what is Astar (ASTR)? How does Astar work? Let’s see what we can find out, and also take a look at some of the Astar Price Predictions that were being made as of January 23, 2024.
Astar Price Prediction
Let’s examine some of the Astar price predictions being made on January 23, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.
| 2024 | 2025 | 2030 | |
|---|---|---|---|
| Prediction #1 | $0.35 | $0.41 | $1.18 |
| Prediction #2 | $0.4409 | $0.5984 | $1.39 |
| Prediction #3 | $0.255 | $0.3785 | $2.45 |
First, CoinCodex had an Astar price prediction that said the token would drop to $0.154617 by January 28 before recovering to $0.167677 by February 22. The site’s technical analysis was highly bullish, with 19 indicators sending upbeat signals and just six making bearish ones.
Astar Price Prediction for 2024
DigitalCoinPrice said that Astar would reach $0.35 in 2024, while Bitnation thought it could trade at $0.4409. PricePrediction.net claimed ASTR would reach $0.255 this year.
Astar Price Prediction for 2025
Moving on, Bitnation said ASTR would reach about $0.5984 and DigitalCoinPrice said it would trade at $0.41 in 2025. PricePrediction.net said Astar would reach $0.3785 next year.
Astar Price Prediction for 2030
Looking at a more long-term Astar price prediction, PricePrediction.net said the token would be worth $2.45 in 2030. Meanwhile, Bitnation said Astar would trade at $1.39 that year. DigitalCoinPrice’ ASTR price prediction said it would reach $1.18 at the start of the next decade.
Google BardAI Price Prediction for Astar (as of January 23)
Google’s BardAI platform gave the following price prediction for Astar on January 23. Please remember that price predictions are very often wrong and that artificial intelligence should not be trusted.
Short Term (Next 3 Months):
- Price range: $0.184 – $0.202
- Reasons:
- The continued development of the Astar network: The Astar team is actively developing new features and integrations for the network. This could attract new users and businesses to Astar, which could increase the demand for ASTR and drive up the price.
- The increased adoption of cross-chain applications: Astar is a leading platform for developing and deploying cross-chain applications. As the demand for cross-chain applications grows, ASTR could be a beneficiary of this trend.
- The overall growth of the cryptocurrency market: The cryptocurrency market is generally bullish, and this could benefit ASTR as well. If the overall market continues to grow, ASTR could see a corresponding increase in price.
Medium term (Next 6 months):
- Price range: $0.1928 – $0.3546
- Reasons:
- Astar’s unique position as a multichain blockchain platform with support for multiple languages and programming environments makes it well-positioned to attract developers and users from a wide range of ecosystems.
- Astar’s growing ecosystem of decentralized applications (DApps) is another positive factor that could drive the price of ASTR in the future.
- However, Astar is still a relatively new project, and its price could be volatile in the near term.
Long term (Next 5 years):
- Price range: $0.082156 – $0.22
- Reasons:
- Adoption of Astar’s cross-chain dApp ecosystem: The more developers and users choose to build and use dApps on Astar, the higher the demand for ASTR tokens will be.
- Partnerships and integrations: If Astar partners with other major blockchain projects or integrates with popular dApps, this could increase the visibility and adoption of the platform.
- Overall cryptocurrency market conditions: The price of Astar is likely to be correlated with the overall cryptocurrency market. If the market is bullish, ASTR could see significant price gains. If the market is bearish, ASTR could experience a decline in value.
Recent Updates from Astar
Astar zKatana recently said it is live on Subgraph Studio. Decentralized data indexing is now available for developers building the first dApps for Astar zkEVM.
It also unveiled two launch partners along with its limited First Edition NFTS.
ASTR Price History
Now, let’s examine some of the highlights and lowlights of the Astar price history. While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret an Astar price prediction.
ASTR launched in early 2022. It was worth $0.278 at the start of trading on January 18. It went through some peaks and troughs and reached an all-time high of $0.3353 on April 10.
ASTR fell over the rest of the year. With the collapse of the Terra (LUNA) blockchain in May and the FTX (FTT) exchange declaring bankruptcy in November, Astar closed the year at $0.03789. This meant it was down more than 85% from its launch price.
Astar in 2023 and 2024
2023 saw both reasons for celebration and commiseration for ASTR. The token initially rose, with a buoyant market sending it to a high of $0.1149.
Astar was already in something of a bearish cycle when the United States Securities and Exchange Commission (SEC) sued the Binance and Coinbase exchanges on June 5.
Matters were made worse when Crypto.com announced it was suspending its American institutional operations. On June 10, ASTR sank to an all-time low of $0.03219.
The token showed some resilience and soon made a recovery of sorts. On August 24, 2023, it was worth $0.06585. After that, the token rallied and it ended 2023 around $0.13. It then started 2024 on a positive note, reaching $0.1569 on January 23, 2024.
At that time, there were about 5.5 billion Astar in circulation out of a total supply of 8.36 billion. This gave the token a market cap of $867.7 million, making it the 68th largest crypto by that metric.
Astar Price Analysis
After hovering between $0.03 and $0.056, the price of ASTR finally started gaining momentum on October 20. A new uptrend began and it made a breakout to $0.085 on November 13.
It proceeded to make a minor pullback, but went back up again, this time with stronger momentum. The price peaked at nearly $0.20 on January 21.
This uptrend could be about to finish. While it could move forward, it won’t go too far up. If that happens, it will drop to $0.11. However, it could well make bigger gains later this year.
Is Astar a Good Investment?
It is hard to say right now. ASTR has been on a good run of form lately, boosted by business partnerships and new tokenomics. It has a pretty active user base, too.
On the other hand, it is not that long since it traded at an all-time low. While it has made a recovery, we don’t know how long that will last. Keep in mind that Astar is not quite a household name in the crypto world, so it will have to work hard to grow its appeal.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in ASTR.
Will Astar go up or down?
No one can really tell right now. While the Astar crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Should I invest in Astar?
Before you decide whether or not to invest in Astar, you will have to do your own research, not only on ASTR, but on other, related, coins and tokens such as Chainlink (LINK). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
Who are the Founders of Astar?
Who Owns the Most Astar (ASTR)?
The anonymous wallet with the most ASTR held more than 13% of the crypto’s supply on January 23, 2024.
Richest ASTR Wallet Addresses
On January 23, 2024, the five wallets with the most Astar were
- YDFuxCzn1Quwm8T93CtuATpSpSmBFDHWWux6p7b4dpzHGgA. This wallet held 952,667,204 ASTR or 13.61% of the total supply.
- aRXcHQ6TPjWbVUWaJNvhgA755CHdrQmP3HigXozcjpPX5ve. This wallet held 562,117,845 ASTR or 8.03% of the total supply.
- afw8fXAg3NbcBebzexMDs4EPoy33riHZNjBp1tW2EUrYEn6. This wallet held 417,175,630 ASTR or 5.96% of the total supply.
- Y6fFjcz2SmkxKc6bqfsiDsK1uaafCeWVfJWXm8qsWcjymGp. This wallet holds 409,168,345 ASTR or 5.85% of the total supply.
- YQnbw3oWxBnCUarnbePrjFcrSgVPP2jqTZYzWcccmN8fXhd. This wallet holds 369,504,892 ASTR or 5.28% of the total supply.
Fact Box
| Supply and distribution | Figures |
|---|---|
| Total supply | 8,363,970,286 |
| Circulating Supply (on January 23, 2024) | 5,504,583,499 (65.81% of total supply) |
| Holder distribution | Top 10 holders own 55.5% of total supply as of January 23, 2024 |
From the Whitepaper
The Astar whitepaper , titled “Astar: The Future of Multichain Smart Contracts,” outlines the project’s vision for a scalable, interoperable, and multichain smart contract platform that leverages the strengths of both the EVM (Ethereum Virtual Machine) and Substrate frameworks. It delves into the technical architecture of Astar, emphasizing its unique features such as its ability to support multiple runtime environments (EVM, Substrate, WebAssembly, and ink!), its compatibility with diverse blockchains, and its focus on interoperability.
The whitepaper highlights Astar’s role as a “hub” for dApps, enabling seamless communication and asset transfer between different blockchains. It introduces the concept of “cross-chain contracts,” which allow developers to create dApps that can interact with multiple blockchains simultaneously, overcoming the limitations of isolated blockchain ecosystems.
Astar (ASTR) Explained
Japanese crypto entrepreneur Sota Watanabe founded the Plasm network in 2019. His plan was to create a platform that used smart contracts, and computer programs that automatically execute once certain conditions are met, to support dApp developers.
Plasm rebranded to Astar in 2021 and, in 2022, it got its own native token, ASTR.
Astar is based on the Polkadot (DOT) blockchain.
How Astar Works
Astar offers developers financial incentives, incubation programs, and tech support, to help support developers and incentivize projects to build on Astar.
ASTR is used to pay people who run the computers, or nodes, that help the platform operate. ASTR can be set aside, or staked, in return for rewards, and it can also be bought, sold, and traded on exchanges.
Because it is based on Polkadot, ASTR is a token, not a coin. You might see references to such things as an Astar coin price prediction, but these are wrong.
Astar Attention Tracker
Here is a chart for Astar Google search volume for the past 90 days. This represents how many times the term “Astar ASTR” has been Googled over the previous 90 days.
FAQs
Will Astar reach $1?
It might do, but that won’t happen for some time yet. PricePrediction.net and DigitalCoinPrice say ASTR could get there by 2030.
Remember that Astar has never traded at $1, with its highest-ever price, $0.3353, coming in April 2022.
What is Astar used for?
ASTR pays people who operate computers, or nodes, on the Astar platform. People can also buy, sell, and trade ASTR on exchanges.
Further reading
Bitcoin Price Prediction 2024: What is BTC?
Solana Price Prediction 2024: What is SOL?
Sui Price Prediction 2024: What is SUI?
Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
