Arweave (AR), one of the top performing altcoin projects of the past week, recorded ATH of $70.04 after increasing its weekly earnings to 170%. Now, we take a look at the details and price predictions of a decentralized data storage solution altcoin project. Let’s start by getting to know the 62nd largest altcoin project by market cap…

Overview of altcoin project Arweave (AR)

Arweave is a decentralized data storage solution that aims to ensure that all data is easily available and accessible indefinitely. Arweave has a lot in common with other decentralized storage platforms such as Filecoin and Sia, which aim to create marketplaces for users who want to buy and sell series of data storage services. The difference of Arweave from other altcoin projects is that all stored data is stored forever. Also, users only need to pay once to store this data. In contrast, all other decentralized storage altcoin projects only store users’ data as long as they pay computers connected to their network for that service.

Besides similar altcoin projects, another feature that sets Arweave apart from its competitors is the guarantee to permanently store data through unique incentives built around the AR cryptocurrency. As a user-friendly project, it provides access to stored files via traditional web browsers, meaning it does not require any special wallet or Blockchain service. Meanwhile, other notable features under development include a voting mechanism that allows its users to testify illegal content.

AR’s token

AR is Arweave’s native cryptocurrency. It is used to store data on Arweave, receive data, interact with permaweb apps, and pay a series of transaction fees, including sending AR tokens. AR has a maximum supply of 66 million and 55 million AR was printed when the Arweave mainnet went live in June 2018. The remaining 11 million AR will be distributed as block rewards for Arweave nodes.

Arweave (AR) technical analysis

Cryptocoin. com

Phoebe L, whose analysis we share as , emphasizes that AR has some solid tokenomics and that the latest price movement is incredible. He also states that the price of AR reflects the price of Solana’s cryptocurrency SOL, which is no coincidence. This is because Arweave stores all the Blockchain data of Solana (SOL) and requires AR purchase for it. The analyst summarizes the effect of this feature with the following sentence:

This means that Solana has created a strong influx of demand for the AR cryptocurrency. The more Solana is used, the higher the demand for AR will be.

However, the analyst also highlights that AR has slightly better tokenomics than SOL. The fact that AR has a much smaller market cap shows that it is much easier to raise the price of AR than SOL. It’s even possible that there will be a point where Solana adoption will do more for AR price than SOL price. Because of this amic, AR also has the advantage of being a rising cryptocurrency. Also, since AR isn’t listed on any reputable exchanges other than Binance and Houbi, a large list of exchanges can raise its price. .

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Michael Lewis


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