Is Astar Network Shifting its Focus to the Korean Market?

Following its recent listing on Upbit, Korea’s largest cryptocurrency exchange, the Astar Network’s native token, ASTR, witnessed a staggering 25% surge. The token was trading at $0.098 at 11:00 a.m. ET, as per data from The Block. Astar Network’s founder, Sota Watanabe, confirmed the company’s increased interest in the Astar Network Korean market.

Deepening Roots in Korea

Watanabe revealed that the web3 company has spent several months in Korea, hiring local talent and engaging in active discussions with Korean projects. The aim is to establish multiple real-world applications for the Astar Network within Korea, replicating the ecosystem they’ve successfully built in Japan. “We see a lot of potential for mutual learning between Japan and Korea, and hence, we’re intensifying our focus on the Korean market,” Watanabe noted.

ASTR Token’s Rally

In the 24 hours following its Upbit listing, the ASTR token experienced a significant rally. This development is a testament to the growing interest in web3 in Japan and indicates a promising future for the Astar Network in the Astar Network Korean market.

Japan’s Support for Web3

Watanabe also shared that the Astar Network’s web3 initiatives have garnered interest from the Japanese prime minister’s office, reflecting Japan’s robust support for web3 and startups. He further elaborated on Japan’s strategic shift towards cryptocurrency over the past year, with tax laws becoming increasingly web3-friendly. Additionally, Sony announced a partnership with the Astar Network in June, further bolstering the company’s position.

The Astar Network is a smart contract platform that supports both EVM and WebAssembly (Wasm) environments. As a parachain of Polkadot, it focuses on fostering corporate adoption and consumer interest in web3 technologies.

For those interested in tracking the progress of the Astar Network and other cryptocurrencies, the cryptoview.io application offers a comprehensive view of the market. It’s an ideal tool for anyone looking to stay updated on the latest trends and developments in the world of cryptocurrencies.