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The Arweave price has soared by 19% in the past 24 hours to trade for $33.842, alongside a trading volume surge of 21%.
That made AR the biggest gainer among the top 100 cryptos by market capitalization.
Gainers in Top 100 (24h) 📈
Arweave – $AR | 14.83%
$34.00
Bonk – $BONK | 10.68%
$0.0000261
Toncoin – $TON | 8.17%
$5.27
Immutable – $IMX | 6.93%
$2.20
Hedera – $HBAR | 6.01%
$0.104— Trade with Renato Ulianov (@twrulianov) May 3, 2024
For the Arweave price, the surge is attributed to a recent integration with HackMD, making it so that community members can permanently decentralize their documents.
This will ensure content is accessible to everyone, while still unchangeable. Based on a report, “this is particularly useful for content like white papers, research papers, DAO bylaws, community guidelines, or any other information intended for the public.”
📢 @ArweaveEco is live in HackMD. 📢
With this integration, you can permanently decentralize your documents, ensuring your content is accessible to everyone, while still immutable.
So what is Arweave?
The Arweave network is like Bitcoin, but for data: a permanent and… pic.twitter.com/aHFHOquUNC
— HackMD 📄 (@hackmdio) May 2, 2024
Arweave Integrates With HackMD
Arweave, a blockchain-based storage platform, integrating into HackMD achieves a new functionality. Users can now publish their work to the blockchain. The innovation has revolutionized how users can manage their public documentation. It challenges what happens in traditional storage methods as data cannot be altered or deleted. It has become the ideal choice for storing content that you want to preserve exactly as it is.
Arweave uses blockchain technology to provide permanent storage solutions. The team explains, “The Arweave network is like Bitcoin, but for data: a permanent and decentralized web inside an open ledger.”
The integration has inspired a comeback for the AR ecosystem, with the Arweave price sustaining a steady streak of higher highs.
A Comeback On Arweave?
According to the charts, Arweave is making new higher highs as shown below, and is even aiming for a break above the $38 resistance: Arweave in the chartsSource: @tradingview As it stands, the cryptocurrency is very close to a break above $38 and currently… pic.twitter.com/yua2d3wstA— Voice of Crypto (@VoiceofCrypto2) May 3, 2024
Arweave Price Prediction
The Arweave price is trading with a bullish bias, maintaining well above an ascending trendline. This support level has provided downward support since around mid-April. The surge has also seen the altcoin flip a supply zone into a bullish breaker between $29,027 and $32,873.
With this order block holding as a support zone, the Arweave price could extend the gains higher, potentially nicking the $40.00rnge to test the next supply zone between $42,097 and $44,069.
To confirm the continuation of the uptrend, however, the Arweave price must break and close above the midline (mean threshold) of the supply zone at $43,150. A decisive candlestick close above this level on the eight-hour timeframe would confirm the continuation of the uptrend. This could see the Arweave price reclaim the range high at $47.480, which would constitute a climb of nearly 40% above current levels.
Traders looking to take new positions for AR should probably wait for the Relative Strength Index (RSI) to conform its stay above the mean level of 50. A decisive bounce above this level would suffice. So far, the position of both momentum indicators, the RSI and the Awesome Oscillator (AO) above their respective mean levels shows the market favors the upside.
TradingView: AR/USDT 8-hour chart
On the other hand, if profit booking kicks in, the Arweave price could descend. A break and close below $26.561 on the eight-hour timeframe would invalidate the bullish thesis.
In a dire case, the dump could extend for the Arweave price to slip below the $22.616 support level.
Meanwhile, 5SCAPE, a world-first AR/VR crypto, is rocketing toward $6 million and has crypto analysts and YouTubers, including Michael Wrubel, very bullish about it.
Promising Alternative To Arweave
5SCAPE powers the 5th Scape ecosystem, an innovative AR and VR cryptocurrency that aims to transform entertainment and learning with the help of its ongoing ICO.
Already, the project has gathered upwards of $5.7 million out of its $6.25 million target.
The hallmark of the 5th Scape project is a comprehensive ecosystem that blends high-quality gaming with blockchain technology. The project offers a range of realistic sports, combat, and racing games designed to immerse players in virtual reality worlds.
🎮 Calling all VR and MMA aficionados! Get ready to be blown away as 5thScape is about to redefine virtual combat with "MMA Cage Conquest" – a game that thrusts you into the heart-pounding world of MMA in VR. 🥊
🌟 Brace yourselves for the "MMA Cage Conquest" launch on the Meta… pic.twitter.com/MHbKgKHIxb
— 5th Scape (@5th_scape) May 3, 2024
5th Scape plans to dominate the sector with cutting-edge hardware like the VR Ultra headset. It boasts top-notch visuals and motion tracking. The headset comes with custom gaming chairs for maximum comfort during long gaming sessions.
From immersive games and hardware to its versatile token model, 5th Scape’s team envisions a unique blend of VR and Web3. This ambitious vision appears to be a major factor behind the significant demand for its ICO.
Hey #5thScape fam! 🎮 Just dropping by to share some epic news: our dedicated team has been tirelessly leveling up the thrill factor in our latest project!
🚀 Stay tuned for the most cutting-edge updates and enhancements as we continue to redefine what’s possible in gaming.… pic.twitter.com/qwrDZH5p4a
— 5th Scape (@5th_scape) April 30, 2024
What’s also interesting is that buying tokens now at $0.00327 each means you can lock in gains of 205% before it lists on exchanges at $0.01. If you are interested, buy now before an imminent 15% price increase.
Also Read:
- The VR Industry Is All Set To Receive A Massive Boost Thanks to 5th Scape (5SCAPE)
- If You Believe In The Future Of AR/VR, 5th Scape (5SCAPE) Is The Best Project To Invest In
- 5th Scape Unlocks Unmatched VR Adventures With Token Presale – Why Investors Shouldn’t Miss the Opportunity
- What is a Crypto Presale? A Quick Guide to Getting in on the Ground Floor of New Cryptocurrencies!
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