Primer (ASTR) price rose more than 10% today, defying stagnant market conditions. The upward move of the altcoin price comes after the high-level partnerships it has signed recently.
ASTR price rises in double digits independent of the market
Astar (ASTR), which is preparing to enter the top 100 according to its market value, made the altcoin investor smile today. Its price has been rising since the early hours of the day. The altcoin project has also seen a jump in ecosystem growth along with the price increase. The momentum in question was linked to the high-level partnerships it signed recently…
Here are the partnerships that drive the altcoin price
The rise of the ASTR price has strong fundamentals as the protocol has made significant improvements in the ecosystem. Particularly the partnership signed with Sony and the increased participation in parachain’s launchpad program are yielding positive results. As Kriptokoin.com, we have included the details of the Sony partnership dated February in this article.
https://twitter.com/AstarNetwork/status/1694016717083832495
Primer is an innovative network that stands out among Polkadot’s parachain networks and is enriched by solid collaborations. It stands out in particular for its collaboration with the Japanese railway operator, which has launched NFTs on its own protocol. The altcoin project actively strives to attract and support both individuals and businesses that want to develop on the platform.
https://twitter.com/WatanabeSota/status/1637084945620537344
Second catalyst: Primer 2.0
Future growth of the Primer network will depend on the next phase of the recently announced Primer 2.0 vision.
As stated at the time this vision was announced, the protocol aims to make the most of the emerging Web3.0 ecosystem through a major organizational change and an extensive redesign process. Price performance and technological advances in the past year have accurately reflected the advances of the Liner network. With the current uptrend, the altcoin is poised to retest the $0.07 resistance level in the medium and long term.
Astar Network reveals ‘Astar 2.0 Vision’ to bring Web3 to billions of users.
Web3 for Billions.https://t.co/XqErHD0cvG
— Sota Watanabe (@WatanabeSota) July 27, 2023
Altcoin project is the focus of attention among institutional investors
Astar, which won one of the Polkadot parachain slot auctions in 2021, made its mainnet debut on January 17, 2022. The altcoin project soon announced a $22 million strategic fundraising event led by Polychain. Other investors included Alameda Research, Crypto.com Capital, and Polkadot founder Gavin Wood.
Following the investment influx, Astar reached a total locked value [TVL] of $400 million earlier this year.
Astar's TVL just hit $400,000,000 today! And, more than 16,500 token holders have locked $ASTR!!
Go to our portal and check the status!https://t.co/s2QRcJMc3H pic.twitter.com/EOgoHNkUPE
— Astar Network (@AstarNetwork) January 29, 2022
Astar Network remains one of the most versatile Polkadot parachains today. As a multi-chain protocol, Astar Network is trying to attract the attention of organizations and brands, most of which are starting to create Web3.0 products already defined on it. One of the landmark products recorded this year is the Cross Virtual Machine (XVM), which went live on the testnet earlier this year.
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