{"id":372959,"date":"2023-02-02T06:40:33","date_gmt":"2023-02-02T11:40:33","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=372959"},"modified":"2023-02-02T06:40:33","modified_gmt":"2023-02-02T11:40:33","slug":"ar-price-prediction-decentralized-storage-altcoin-posts-16-gain-amid-the-bull-market","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ar-price-prediction-decentralized-storage-altcoin-posts-16-gain-amid-the-bull-market","title":{"rendered":"AR Price Prediction: Decentralized Storage Altcoin Posts 16% Gain Amid the Bull Market"},"content":{"rendered":"

AR, the native token for Arweave, is currently enjoying an unprecedented rise as the entire market soars on the back of improved fundamentals. Arweave enables users to rapidly and easily build anything from simple files to completely decentralized web apps with permanent storage.<\/p>\n

The entire stack for creating decentralized web applications on the platform is the permaweb ecosystem, which includes everything users might need, including domain name services, database querying, and hosting for their web application user interface – all fully decentralized. This enables users to create web applications with blockchains’ permanent, neutral, and transparent characteristics.<\/p>\n

AR Outpaces Broader Market<\/h2>\n

The broader crypto market<\/a> has continued with its resilient streak, posting gains as investors remain confident in coins’ performances. And as the economy continues to rebound, so has crypto. The market is up by 3.58% today, with top coins leading strong performances.<\/p>\n

Nevertheless, AR has also been on a laudable streak. The digital asset<\/a> currently trades at $12.05, indicating an uptrend of 16.1%<\/span> in the past 24 hours. With many coins performing stronger than the broader market, AR’s recovery should impress investors.<\/p>\n

\"AR<\/p>\n

AR has done quite well technically with its improved performance. The crypto asset<\/a> is approaching its short-term moving average (MA) indicators, particularly the 10-day MA of $10.6. The long-term MA indicators, however, remain far from the price, with the 200-day MA standing at $10.28. A sustained rally should cause the token to cross most of these indicators, so investors should watch how AR performs.<\/span><\/p>\n

\"AR<\/p>\n

AR’s moving average convergence divergence (MACD) is positive, depicting a buy signal. This highlights the strong investor demand surrounding the cryptocurrency. But, the asset’s relative strength index (RSI) of 71.95 shows that the asset is in the overbought region. However, its current impressive streak shows that AR could potentially retain a strong bull run for the foreseeable future. <\/span><\/p>\n

Arweave Transaction Count Surges<\/h2>\n

Arweave is a decentralized data storage solution that connects those in need of storage space with those with excess. It is comparable to Bitcoin, but in this case, for data. The platform is looking to bring the benefits of blockchain to the data storage space, with storage owners able to get rewards.<\/p>\n

Recently, Arweave co-founder and chief executive Sam Williams confirmed that the network had witnessed a record high in transactions for January. According to Williams’ tweet, the number of transactions reached over 58.2 million last month, an increase of 80% over the previous month and up to 21% higher than during the non-fungible token (NFT)<\/a> bull market.<\/p>\n

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Can't be 100% sure, but it looks like a new significant user coming online. From Viewblock we can tell that it is:
A. Coming from Arweave signing wallets (rather than SOL\/ETH that NFT uploaders generally use)
B. Using bundles
C. Started on ~Jan 14<\/p>\n

Looking for more details 🙂 pic.twitter.com\/A6ttFAiR1j<\/a><\/p>\n

— 🐘🔗 sam.arweave.dev (@samecwilliams) February 1, 2023<\/a><\/p><\/blockquote>\n