Astar (ASTR) fell and now trades around $0.0179, a level that sits far below the $1 narrative. The drop rattled both spot traders and futures bettors and has shaken confidence in the project. Thin order books and leveraged positioning are driving outsized swings as the team promotes a possible rebrand and token swap.
Headlines claiming ASTR “flirts with $1” clash with the actual price: at about $0.0179, the token sits 54.8 times lower, and reaching $1 would require a 5,480% climb that does not match recent behavior.
The real one-day move was between 0.32% and 3.06%, not a double-digit crash. Over seven days the loss totals 6.84% to 6.98%, and over thirty days it reaches 22.54%. Market value hovers near $146.55 million, with a record peak of $0.4216 and a recent trough of $0.01202.
Network context and trading dynamics
Astar Network (formerly Plasm) has run as a Polkadot side chain since January 2022, supporting both Ethereum and WebAssembly programs while aiming to connect multiple blockchains. ASTR is used to pay fees, vote on upgrades, and stake behind apps.
The team plans to rebrand the chain as “Soneium Network” and may swap the token for “SONY”. An initiative called “Astar Surge” began in December 2024 to promote the idea.
Real use remains thin: about $4 million is locked in apps. Futures bets reached $13.5 million in twenty-four hours, while spot trading was just $3.3 million, suggesting leveraged wagers—not organic on-chain use—drive price swings.
Track the rebrand and the proposed token swap to “SONY.” If locked value and spot volume rise after the switch, a true rebound has a shot; if they do not, the downtrend will likely resume.
The $1 idea requires real adoption, not headlines. With price far from that mark and liquidity thin, the outcome depends on whether users, deposits, and activity materialize after the rebrand push.
