Astar Network’s ASX Token Sees Notable Gains as Bullish Sentiment Prevails
The native token of Astar Network, ASX, has experienced significant gains today, September 21. The positive trend in the crypto market can be attributed to the prevailing bullish sentiment surrounding the Astar Network’s ecosystem.
As of 7:07 a.m. EST, ASX is trading at $0.053, representing a 2% increase in price over the past 24 hours. Additionally, its 24-hour trading volume has surged by over 435%, indicating a strong demand and interest from buyers. Based on market performance and development, it is projected that ASX could grow by 30% in the coming weeks.
Astar Network Collaborates with Polygon Labs to Create Astar zkEVM
One of the contributing factors to ASX’s price performance is the integration of Astar Network and Polygon Labs to launch Astar zkEM. This collaboration was announced on the official Astar Network Twitter account.
💥 Supernova is here! 💥
We are excited to announce that we will work with @0xPolygonLabs!
Together, we will deliver Astar zkEVM: the Ethereum Layer 2 scaling solution powered by Polygon’s CDK.
Here, @WatanabeSota & @sandeepnailwal share this groundbreaking announcement. pic.twitter.com/23hSlvUu1G
— Astar Network (@AstarNetwork) September 13, 2023
This development has generated excitement within the Astar ecosystem and may have contributed to ASX’s surge. The successful deployment of Astar zkEM could further boost the price of ASX in the long run.
Astar Shows Bullish Trendline Amid Bearish Technical Indicator Signals
ASX has formed a crucial trendline support, indicating a pivotal point in its price trajectory. The bears at the $0.061 resistance level are attempting to halt the coin’s ascent. However, if the bulls gain more momentum, ASX has the potential to break through this barrier and rally towards the $0.07 level.
If ASX fails to breach this threshold, it could retrace back to the established trendline. In a scenario where bearish momentum strengthens, the price may drop below the trendline and find major support at $0.0305.
Despite today’s positive stride, the Moving Average Convergence Divergence (MACD) indicator suggests that selling pressure still dominates the market. However, with an RSI of 47, indicating that the assets are not overbought, there is a high chance for more rallies.
ASX could continue to experience gains throughout the day, but it’s important to note that its trajectory can shift depending on market dynamics.
Astar Alternative
Astar Alternative (BTCBSC) has raised over $4 million, making it one of the most anticipated presales of the year. The project is close to reaching its presale hard cap of $6 million, providing a limited window for interested investors to participate.
Bitcoin BSC rewards holders who stake their BTCBSC with 0.25 tokens per block (every 10 minutes), resulting in an APY of 128%. This translates to a monthly yield of approximately 10.6%.
The project plans to distribute 69% of the total BTCBSC supply as staking rewards over 120 years. This staking model incentivizes holders to hold their tokens longer and discourages short-term speculative trading that can cause high price volatility.
Bitcoin BSC: High Potential Picks by Influencers
Influential crypto figures such as Joe Parys and Corne Marchand have expressed excitement about Bitcoin BSC. Parys has named it as one of the top Bitcoin alternatives for the next surge, while Marchand believes BTCBSC could experience a 500% surge in the next bull run.
$BTCBSC is selling fast at $0.9 per token. If you’re interested, you can join the token sale by visiting this link.
Hot Take: ASX Gains Momentum on Positive Market Sentiment and Ecosystem Developments
The native token of Astar Network, ASX, has experienced notable gains today. This surge in price can be attributed to the prevailing bullish sentiment in the crypto market and positive ecosystem developments, including the integration of Astar Network and Polygon Labs. The collaboration between these two entities to create Astar zkEM has generated excitement within the Astar ecosystem, further boosting ASX’s price performance. While technical indicators suggest a bearish outlook, the presence of strong buying interest and potential for further rallies indicate that ASX could continue to see gains in the near term. However, it’s important to monitor market dynamics as they can influence ASX’s trajectory at any time.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.