Top Gaining Altcoins 

• Creditlink Token (CREDIT): $0.08724 — Weekly gain of 151.9%, topping the list. 
• Aster (ASTR): $1.95 — Up 111.8%, attracting investor attention. 
• APX (APX): $1.95 — Strong performance with a 109.9% increase. 
• Avantis (AVS): $2.29 — 94.9% growth, ranking high. 
• Orderly (ORDER): $0.3199 — Increased by 87.5%. 
• STBL (STBL): $0.5054 — Gained 75.1%. 
• Hemi (HEMI): $0.09613 — 72.1% growth. 
• Thena (THE): $0.6151 — Up 55.4%, ending the week positively. 

Top Losing Altcoins 

• Tutorial (TUT): $0.07722 — Weekly decline of -45.7%, the biggest loser. 
• Supra (SUPRA): $0.002426 — Down -18.6%. 
• Test (TEST): $0.03972 — Fell -15.0%. 
• Froggie (FROG): $0.05021 — Loss of -17.9%. 
• OpenVPP (VPP): $0.09419 — Dropped -17.5%. 
• Mavryk Network (MVK): $0.1241 — Down -17.3%. 
• TROLL (TROLL): $0.1003 — Fell -15.4%. 
• Four (FOUR): $1.39 — Weekly decline of -14.1%. 

Overall Analysis 

This week, Creditlink Token (CREDIT) stood out, providing investors with gains exceeding 150% in a short period. Meanwhile, Tutorial (TUT) recorded the steepest loss at over 45%. According to CoinGecko’s Trending Coins list, the most followed projects included Aster, Avantis, WINkLink, Hemi, Orderly, STBL, Hyperliquid, and Linea. 

High volatility in the crypto market continues to offer investors both significant opportunities and considerable risks. 

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Top Gaining and Losing Altcoins This Week on CoinGecko appeared first on Coin Engineer.

Astar Network (ASTR), a multichain smart contract platform, will burn 350 million ASTR tokens, representing 5% of its total supply. This decision follows a community governance vote and is expected to have a positive impact on ASTR token holders.

The tokens earmarked for burning were initially allocated for Polkadot parachain auctions, a product that has since been discontinued by Polkadot. The burning process will effectively remove these tokens from circulation, reducing the overall supply and potentially increasing the value of remaining ASTR tokens.

You might also like: How To Setup Metamask?

Token burning is a common strategy employed by cryptocurrency projects to reduce the circulating supply and enhance token value. By burning tokens, the project can artificially increase the scarcity of its tokens, making them more attractive to investors.

In the case of Astar Network, burning 350 million ASTR tokens is expected to:

Increase ASTR token value: By reducing the circulating supply, the burn can potentially drive up the price of ASTR tokens.

Enhance staker rewards: With a reduced circulating supply, the rewards for staking ASTR tokens become more valuable. This can incentivize more users to stake their tokens, further supporting the network’s security.

In addition to burning 350 million ASTR tokens, the Astar Foundation also proposes transferring 70 million ASTR tokens generated from dApp Staking to the on-chain treasury. These funds will be allocated to support future development projects and initiatives within the Astar ecosystem.

This move demonstrates the Astar Foundation’s commitment to long-term growth and sustainability. By allocating funds to the treasury, the foundation ensures that the network has the resources it needs to continue innovating and expanding its reach.

The post Astar Network to Burn 5% of Supply, Boosting Token Value and Staker Rewards appeared first on Coin Engineer.

The Astar Foundation shared a community proposal on June 4th to burn 350 million ASTR, worth approximately $31 million. Following this announcement, the price of ASTR rose by around 8%.

The details of the statement made by the Foundation stated that the voting on the proposal will take place after a 3-week community discussion. The community has already welcomed this proposal positively with the increase:

Astar Network proposes burning 350 million ASTR worth $31 million. The Astar Foundation is considering a significant initiative to burn the parachain auction reserve. Voting on the proposal will take place after a three-week community discussion. Burning the reserve could benefit ASTR holders by reducing the total staked supply, thus increasing the rewards for stakers.

Backpack (BP) Brings Good News to Early Users

One of the notable projects in the crypto ecosystem, Backpack, has officially entered its token

23
Mar

What is Ant.FUN (ANB)?

One of the projects that has recently attracted attention in the crypto market is Ant.FUN

16
Mar

Strategy’s Massive Bitcoin Purchase Moved the Market!

Institutional investment activity continues to attract attention in the cryptocurrency market. One of the companies

16
Mar

What is WandrLust (AFK)?

WandrLust (AFK) is a Web3 project that aims to bring real-world physical activities together with

16
Mar

Is Artificial Intelligence Data Centers a Threat to Bitcoin Mining?

The rapid increase in investments directed toward artificial intelligence data centers has brought a new

16
Mar

Michael Saylor Signals New Bitcoin Purchase

Michael Saylor hinted that Strategy may announce another Bitcoin purchase as soon as tomorrow. The

16
Mar

Increase in ASTR price

According to CoinGecko data, ASTR, which showed an 8% increase under the influence of the news feed, rose from $0.086 to $0.093. After the increase, a significant pullback was observed in the price. ASTR is currently trading at $0.09.

The post Altcoin Project Proposes $350 Million Burn, Price Experiences Sudden Surge! appeared first on Coin Engineer.

You might like: How to Add USDT to MetaMask in 2024 (BEP20, TRC20)

This burning mechanism is attracting the attention of crypto developers and users. It brings together stakers and dApp users.

Mark your calendars — dApp Staking v3 is launching on Astar early next week!

Currently, dApp Staking on Astar is in decommission mode, so no new staking rewards will be generated until the launch of v3.

Get ready for an upgraded staking experience in just a few days!

— Astar Network (@AstarNetwork) February 9, 2024

What Will Happen With the Update?

According to the announcement on the Astar Network (ASTR) official website, the new update will focus on improving community-based issues and existing flaws. It aims to increase the number of dApps with Scaling Rewards, which increases their value. Additionally, Astar Network (ASTR) will impose a Maximum Reward Cap on dApps, ensuring fair reward distribution.

Finally, the update aims to incentivize new dApps to compete. However, since newcomers cannot compete with popular ones, Astar Network will develop a fair competition environment.

You can freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Astar Network Founder Sota Watanabe Announces Major Updates! appeared first on Coin Engineer.

Astar Network actively functions as the cornerstone of collaborative Web 3.0 development. It not only provides financial incentives, incubation programs, and technical support but also empowers developers to construct decentralized applications and layer 2 solutions. Astar Network actively aids developers in crafting decentralized applications, offering an array of tools and services for this purpose. It facilitates tasks such as constructing smart contracts, developing private blockchains, conducting asset exchanges, providing liquidity, and more, all of which are achievable within the Astar Network.

Astar Network offers a wide range of tools and services for decentralized app development, including smart contract creation, private blockchain development, asset trading, liquidity provision, and more, all seamlessly executable on the network.

Astar forges connections within the Polkadot ecosystem, establishing links with layer 1 blockchains such as Ethereum and Cosmos. Operating as a Polkadot Parachain, it assumes the role of a dynamic multi-chain Polkadot dApp hub. It offers robust support for DeFi, NFTs, and DAOs, enabling developers to concentrate their efforts primarily on application development, transcending the realm of infrastructure management.

What Makes Astar Network Unique?

What is Astar (ASTR) Network? The network builds upon Parity Substrate, a platform crafted for the creation of Web 3.0 blockchains. Networks like Astar, constructed atop Substrate, additionally utilize a variety of features, incorporating upgradable blockchains, modular architecture, customizable block execution logic, and adaptable consensus mechanisms. Also in simpler terms, it signifies a framework deliberately tailored to facilitate swift and straightforward blockchain development.

In addition to the substrate modules, Astar introduces the following features:

1- Operator Trading: It constitutes a mechanism for purchasing and vending dApps. Affording the capability to tokenize smart contracts, transfer ownership to other users, also designate other users as operators.

2- Multi-Lockdrop: This is an enhanced lockdrop method that permits the distribution of tokens from one network to another. Participants lock in tokens from different blockchains for a predetermined duration, and  local tokens are gradually disseminated among token holders. This approach actively encourages user engagement within the network’s ecosystem.

3- DApp Staking and Rewards: Astar prioritizes a reward system for dApp developers enhancing the ecosystem and Astar Network’s value. It operates per-block, with 50% of rewards to dApp developers (10% to nominators, 40% to operators, i.e., smart contract managers), incentivizing nominators to stake in smart contracts and boost the ASTR token’s value.

How Does Astar Work?

What is Astar  (ASTR) Plasm Network? Astar Network is a layer 1 permissionless public blockchain that anyone can join. In general, so Astar Network serves as the default root chain for developers to plug their applications into. Astar Network offers various modules that enable developers to easily utilize Layer 2 solutions, such as the Optimistic Virtual Machine (OVM) module and the DApp Staking module.

Astar Network is not only for Plasma applications but also for Lightning Network applications or other layer 2 protocols. Additionally users can choose which solution to use and make their use cases possible with minimal additional overhead.

In addition to enabling the implementation of Layer 2 solutions that are not possible on Astar, the network has integrated Plasma as a Service to support DApp developers. Plasma as a Service allows developers to effortlessly deploy Astar applications without the hassle of learning everything from scratch.

Tokenomics

➙ Astar Network project’s product, $ASTR, experiences an annual inflation rate of 10%.

Project Team         

Sota Watanabe – CEO               Hoon Kim – Chief R. Officer               Roy Kure – Chief Engineer

 Saša Pul – Developer              Dustin Lee – Content Creator.

Where Can We Buy ASTR Coin?

If you want to buy ASTR Coin with a lifelong 20% commission discount, you can purchase it from the exchanges listed below:

➔ Click here to buy from Binance exchange ➔ Click here to buy from Gate.io exchange ➔ Click here to buy from KuCoin exchange

You can share your opinions in the comments about the topic. Also, follow us on Telegram, Twitter, and YouTube for more content like this.

The post What is Astar (ASTR) Network? appeared first on Coin Engineer.