Arweave AR/USD has advanced from $11.77 above $34 since the beginning of August, and the current price stands around $30. The current trend of this cryptocurrency remains bullish, but when trading Arweave, you should consider that the price could also weaken in the upcoming days.

Arweave is software that seeks to store files across a distributed network of computers allowing its users to truly store data forever. Arweave stores its data in a graph of blocks, and each block is linked to two earlier blocks in Arweave, forming a structure called a “blockweave.”

This differs from Bitcoin, where blocks are linked in order, forming a chain so we can conclude that Arweave is not exactly a blockchain. Arweave is very similar to other decentralized storage platforms like Filecoin and Sia; however, what sets Arweave apart from competitors is its commitment to permanently storing data through unique incentives built around its AR token, the native currency for all Arweave applications.

The number of AR tokens in circulation is limited to 66 million tokens, and users who want to store data on Arweave must buy AR tokens to pay for distributed data storage. The payments are pooled and distributed gradually over time why the pool of fees gains in value over time, very similar to cash in a bank account accumulating interest.

Arweave is built and run by its community, and if you have an amazing idea for an Arweave application, Arweave will pay you to build it. The Arweave community has created many applications to aid users building on the network and numerous libraries for integrating the protocol in a number of different programming languages, such as Python, JS, and PHP.

Arweave also offers the ability for anyone running the software to choose the type of data they wish to store, which is known as the content moderation process. Arweave’s native AR token has achieved an impressive gain over the last several days, and part of this gain can be attributed to the growing non-fungible token (NFT) ecosystem on the Solana blockchain.

“Arweave’s technology underpins some of the most popular Solana-based NFTs, including Degen Ape Academy, Sollamas, and SolanaDoges. Arweave will increase the rate limit by 2.5x to make room for the influx of users,” said Arweave founder Sam Williams on August 15, amid the launch of Degen Ape Academy.

Arweave price has exploded since the beginning of August, and this coin continues to trade in a bull market. If the price jumps above $40 in the upcoming days, it would be a signal to trade Arweave (AR), and the first target could be around $45.

There is no risk of the trend reversal for now, but if the price falls below $25, it would be a firm “sell” signal, and the next target could be around $20.

Arweave price has exploded since the beginning of August, and if the price jumps above $40, the next target could be around $45. Arweave is built and run by its community, while the number of AR tokens in circulation is limited to 66 million tokens.

The post Arweave has exploded since the beginning of August, is it still a good buy opportunity? appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

314 +