Arweave Price Prediction: AR Plummets as Investors Flock to BTC20 Token

Join Our Telegram channel to stay up to date on breaking news coverage

The coin, Arweave, powering the decentralized storage network, Arweave, is raising eyebrows in the market with its indecisive price movement today, August 9, 2023. With the price chart turning red and green quickly, investors are worried that AR could finally succumb to the red trend before the day ends.

Amid the potential negative market, there are speculations that the recently released Arweave Kit 1.4.8 will likely trigger excitement and restore a bullish sentiment for the Arweave coin, AR.

I don't think Arweave Kit has received enough attention in the @ArweaveEco yet.

It is a huge step forward for DevX, shepherded by @CommunityLabs. DevX matters because better experience for developers => more apps => more adoption of the permaweb.

So what is it? Let's jump in 👇… https://t.co/DBuLEokRGk

— 🐘🔗 sam.arweave.dev (@samecwilliams) August 8, 2023

Arweave Dip Continues for 30th Straight Day

During the past 30 days, Arweave (AR) shed 11.7% of its price, including a 5.9% loss in the last 14 days. Also, within a week, AR lost another 4.8% and is now down by 0.93% in the previous 24 hours.

As of 7:47 am EST today, Arweave (AR) is trading at $5.25. Despite the coin’s plummeting market value, its 24-hour trading volume is still bullish and up by 23.6%, sitting at over $4.2 million.

Arweave Daily Chart

In the chart above, the red candle stick formation shows the increased selling pressure affecting AR’s price today, suggesting more losses before the end of today.

Also, the coin’s Moving Average Convergence Divergence (MACD) indicator is below the signal line and has faded red histogram bars.

This shows that the bearish momentum on AR’s market is weakening, suggesting a shift in momentum in the coming days.

According to the chart above, AR’s Relative Strength Index (RSI) is at 39.95, moving in the neutral region between 30 (oversold) and 70 (overbought). This RSI movement indicates AR’s indecisive market trend.

Considering the increased selling pressure depicted by the red candle stick on the chart, the RSI could finally proceed to the oversold zone (below 30), resulting in more price dip.

However, if AR sees more buying activities before the day ends, its RSI could turn upward, suggesting price rallies toward the overbought region (above 70).

Given the low price of Arweave (AR) today, traders may jump in to buy cheap. If that happens, a rebound is likely to occur, attracting more buyers to the asset and boosting its price again.

While the Arweave coin is still plummeting, investors are turning to this Bitcoin alternative with a stake-to-earn model, BTC20.

Arweave Alternative

A lot of projects have emerged on Ethereum’s blockchain. However, the one making waves in the crypto space is BTC20.

To serve as Bitcoin’s alternative at an affordable rate, BTC20 provides its users with a stake-to-earn innovation. This way, users can stake their $BTC20 tokens to earn considerable rewards in crypto afterward.

Also, its goal to replicate Bitcoin’s life cycle but in the form of an ERC-20 token has garnered massive interest among investors.

By operating with a verified smart contract, the project distributes $BTC20 coins to the staking pool aligning with Bitcoin’s block schedule.

With each block confirmation, 50 BTC20 tokens are distributed to every participant within the staking pool.

BTC20 Presale Sold Out – Key Details to Know

BTC20’s presale has sold out, and by 3 PM UTC today, August 9, its staking will be available, allowing early investors to release their tokens to the staking contracts. This is possible via the BTC20.com home page.

📅 Staking & Claiming Dates Confirmed💰

🚀 We're thrilled to announce the highly anticipated dates for #Staking and #Claiming your $BTC20 #Tokens!

🗓️ Staking will kick off on 9th August at 3pm UTC🕒

🗓️ Claiming goes live on 10th August at 3pm UTC 🕒

Mark your calendars and… pic.twitter.com/lM8tsdtmvF

— BTC20 (@BTC20Token) August 3, 2023