Astar Network Token Surges Following Listing on Upbit
The native cryptocurrency of the Astar Network, ASTR, experienced a significant surge of over 25% shortly after being listed on Upbit, the largest crypto exchange in Korea. According to data from The Block, the token was trading at $0.098 at 11:00 a.m. ET.
Astar Network’s Expansion into the Korean Market
Astar Network Founder Sota Watanabe revealed that the company has been actively working to establish a presence in Korea. They have hired local staff and engaged with Korean projects to develop real-life use cases for their network. Watanabe emphasized the importance of learning from the Korean market, highlighting the similarities between Japan and Korea.
Increased Interest in Web3 in Japan
Watanabe shared that Astar Network’s web3 efforts have garnered interest from the Japanese prime minister’s office, indicating strong support for web3 and startups in Japan. He also noted that Japan has become more favorable towards web3 firms due to changes in tax laws and highlighted Sony’s partnership with Astar Network as an example of corporate adoption.
About Author
Brian McGleenon is a UK-based markets reporter for The Block. He has extensive experience as a financial journalist and producer for various news outlets. In addition to covering web3 and cryptocurrency developments, he is interested in geopolitics, environmental issues, artificial intelligence, and longevity research.
Hot Take: Astar Network’s Impressive Listing Performance Reflects Growing Interest in Web3
The surge in Astar Network’s token value following its listing on Upbit demonstrates the increasing demand for web3 technologies. The company’s expansion into the Korean market and its recognition by the Japanese prime minister’s office further solidify its position as a key player in the web3 space. As Japan and Korea continue to support and adopt web3 innovations, Astar Network is well-positioned to capitalize on this growing trend. With its focus on corporate adoption and consumer interest, Astar Network is poised for success in the evolving landscape of decentralized technologies.
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