ASTR pares gains after major exchange listing

• Astar (ASTR) price rose to highs of $0.059 after news of listing on Bithumb.
• ASTR has however pared some of the gains to trade near $0.053 amid profit taking.

Astar (ASTR) rose to a multi-week high on Thursday, reaching an intraday peak of $0.059 as market reaction to news of a major exchange listing buoyed bulls.

However, with sellers still largely present, ASTR has pared most of the daily gains and currently traded near $0.053. Per data on CoinGecko, the cryptocurrency’s price has a 24-hour and seven-day upside of 2.5% and 4.4% respectively at the time of writing (11:30 am ET).

Astar price soared after Bithumb listing news

A tweet from Sota Watanabe, founder of Astar Network, on Thursday highlighted the native ASTR’s listing on Bithumb, one of the largest cryptocurrency exchanges in South Korea. With the news came the buying pressure, a scenario that catapulted ASTR/USD from lows of $0.052 to near $0.060.

Notably, the spike in the USD pair came even as Bithumb added support for ASTR/KRW, driving volume across the country.

$ASTR/KRW pair is finally listed on Bithumb, one of the largest Korean exchanges.

We secured Japan 🇯🇵and now I am excited to enter the Korean market 🇰🇷https://t.co/jPWAEaatal

— Sota Watanabe (@WatanabeSota) September 21, 2023

The listing on the Korea-based exchange comes after Astar Network, which is Japan’s leading blockchain, launched its highly anticipated zero knowledge (ZK) layer 2 chain Astar zkEVM on Ethereum. 

Astar’s L2 scaling solution is powered by the Polygon CDK. According to the Astar and Polygon teams, the new ZK-powered chain brings transaction speed, scalability and security to businesses and enterprises. It’s part of the roadmap to delivering global adoption for Web3.

Astar & Polygon teaming up to bring Ethereum Layer 2 scaling to Japan! 🤝

With Polygon CDK, we are building a trustless bridge to Ethereum with high EVM equivalency right out-of-the-box, so dApp developers can use existing tools to build solutions across our entire ecosystem! 🏗️ https://t.co/DvLCsSffHM

— Astar Network (@AstarNetwork) September 14, 2023

ASTR also recently listed on Swyftx, one of the leading crypto exchanges for Australia and New Zealand. The token also recently debuted on Huobi.