The recent IDO for AstroSwap, the interstellar DEX for Cardano, has been a tremendous success. Not only did the tokens fly off the proverbial shelves, but the price is skyrocketing. Currently at 210x ROI, one has to wonder what will happen next for $ASTRO or what galaxy it will stop in.
— AstroSwap (@AstroSwapApp) October 7, 2021
AstroSwap’s $ASTRO Is A Hot Commodity.
Token Generation Events and IDOs tend to attract a lot of speculative attention in the cryptocurrency space. Investors will buy tokens at low prices and look for a quick 10x 20x before cashing out and moving on. However, in the case of AstroSwap‘s $ASTRO IDO, selling early was a grave mistake. After noting strong support during the token sale – and a massive oversubscription – investors had to look to secondary markets to get their hands on the native token.
That buying frenzy has given rise to spectacular value appreciation for $ASTRO. The initial 10x and 20x occurred as expected, yet the rally has kept on going. Even today, the momentum isn’t over yet, and $ASTRO sits at a comfortable 210x ROI. A stellar performance by the interstellar DEX on Cardano and reaching a 200x ROI is within the realm of possibilities. Moreover, the current trading volume of over $18 million can sustain this price rally for the foreseeable future.
Based on the current number by DEXTools, there is also a fair distribution of the $ASTRO token so far. The IDO, facilitated by Cardano’s dedicated launchpad service ADAPad, prevented whales and hoarders from acquiring many supplies. Instead, more investors got a fair chance at investing and acquiring the token at the price of $0.001. Ensuring a fair distribution is essential to build a strong community and prevent price manipulation.
It is almost unthinkable that people could buy $ASTRO at $0.001, and the initial market cap was $120,000. A lot has changed in a short period, confirming the global interest in what this decentralized exchange – powered by WagyuSwap technology – can bring to the table. More importantly, the partnership with BlueZilla will open many doors and opportunities for the team to explore. It is also a big deal for the Cardano ecosystem, as it will continue to build momentum and strengthen its position as the third-largest cryptocurrency by market cap.
Why AstroSwap Matters
Many people will look at AstroSWAP or $ASTRO and see another DEX with a native token. However, it is essential to look at the much bigger picture. AstroSwap has partnered with ADAPad in Cardano’s first DEX/launchpad cooperative effort. That also means AstroSwap will gain support from the incubator behind ADAPad, which is BlueZilla. The same group that has built launchpads and other solutions to fuel, foster, and nurture ongoing and future development for essential blockchains.
That partnership allows AstroSwap to use WagyuSwap’s technology, as WagyuSwap is another member of the BlueZilla ecosystem. That integration can lead to cross-chain trading and swapping support, multi-chains taking, and much more. AstroSwap will gain staking support soon, and introduce lotteries to reward loyal platform users and contributors. Forty-five percent of the 10 billion $ASTRO token supply is set aside for staking rewards, creating significant incentives for current token holders not to sell and focus on the future.
The support of BlueZilla goes beyond the funding aspect. However, AstroSwap will be incubated by this team, spanning various business segments, including development, marketing, legal, and so forth. The potential for AstroSwap is impossible to calculate, and every new step will bring more value to its #ASTRO token. The current 210x ROI is a glimmer of what the token may be capable of in the months to come. Buying and holding is the only viable approach where $ASTRO is concerned.