How to Buy WOO Network (WOO)

Although it is impossible to make an accurate ASTR price prediction over any duration, several fundamental and sentiment factors could drive a price change in the Astar Network token. Let’s take a look at some of them:

Adoption of its Ecosystem

As more developers design and deploy dApps on Astar Network, bringing in more end users to the platform, the level of on-chain activity on the platform increases. This could, in turn, boost the ASTR price statistics.

Staking Activity

Astar Network supports the staking of its native ASTR token. Higher interest in staking $ASTR could also power bullish moves in the Astar price, taking it higher. However, a decline in the staking activity could cause a potential downtrend in the price of ASTR.

Crypto Market Sentiment

One of the biggest reasons for price action in the crypto market, the sentiment among investors can play a huge role in deciding how the Astar Network price moves. A bullish or risk-on mood supports Investor confidence and increases buying activity in ASTR and other digital assets. On the other hand, a risk-averse mood or a bearish sentiment drives sell-off across the cryptocurrency market and could contribute to weakness in the Astar Network value.

$ASTR is the native crypto asset of the Astar Network ecosystem. Here are some of its applications:

Utility Token

ASTR is used to pay transaction fees when using the Astar Network. Users pay gas fees using $ASTR when using the network to transfer payments or interact with dApps, while dApps pay in ASTR when executing smart contracts on the network.

Governance Token

Astar Network uses the $ASTR token for on-chain governance. Token holders enjoy voting rights and can submit and contribute their say on proposals submitted by others, effectively decentralizing and democratizing the future development of the ecosystem.

dApps Staking

The dApps staking feature is unique to Astar Network and is an innovative way for the network to incentivize dApp developers to work on and launch projects on their network. ASTR token holders can stake their holdings via the Astar Portal on dApps of their choice to extend support to those projects. In addition to generating block rewards for their staking efforts, the activity also offers a way for dApp developers to earn dApps rewards based on the number of $ASTR staked with them.

Crypto Asset to Trade and HODL

You can trade Astar Network in the crypto market to profit from the volatility and changes in market conditions. Buy or sell ASTR against other crypto assets or hold the token long-term if you believe in the future potential of the Astar Network project. Review the real-time Astar Network price, ASTR market cap, circulating supply, 24-hour trading volume, and the latest crypto news before you trade ASTR in the market.

Earn Passive Income on KuCoin

KuCoin lets you generate passive income from your ASTR holdings. Head to the KuCoin Crypto Lending page to lend liquidity for ASTR on our platform. Earn attractive daily interest over seven days, 14 days, or 28 days to grow your portfolio safely and conveniently.

As of September 2022, the circulating supply of $ASTR stands at around 3.6 billion out of a total supply of 7 billion. This figure changes based on the extent of on-chain and staking activity within the Astar ecosystem.

At the time of the project’s launch, the initial allocation of ASTR tokens was as follows:

1. 30% was earmarked for lockdrop participants

2. 30% was set aside for Polkadot parachain auctions

3. 5% was kept as a reserve for the parachain auction

4. 10% went for protocol development and grant programs

5. 5% was allocated to the on-chain DAO

6. 5% of ASTR total supply was allotted to marketing activities

7. 10% was set aside for institutional investors and would become transferable after Astar won a slot in the parachain auction

8. 5% of the $ASTR supply was given to its team of developers

Astar Network offers a unique dApp Staking program that helps you earn rewards for your efforts while also supporting dApp developers in creating projects on their network. Here’s how to stake on Astar dApps:

1. Visit the Astar Portal and connect your wallet to the app’s interface. Ensure you have sufficient $ASTR for staking by buying the token on KuCoin or other supported platforms and transferring them into your wallet.

2. Ensure that you are connected to the Astar Network for enabling dApp staking of $ASTR.

3. Review the list of dApps available to which you can stake your ASTR tokens.

4. Click on Stake on the dApp of your choice, enter the number of tokens you wish to stake, and click on the Stake button to confirm the transaction.

5. Sit back, earn rewards for your $ASTR staking, and earn passive income conveniently.