Against the background of a generally bearish market, Arweave is one of the top gainers of the week. Currently trading for just over $31, it gained 12% over the past 7 days and another 7% today.
If you want to know what this crypto is, if it would make a good investment, and the best platforms to buy it now, you’ve come to the right place.
Top places to buy Arweave now
What is Arweave?
It is a decentralized storage network that seeks to offer a platform for the indefinite storage of data.
Describing itself as “a collectively owned hard drive that never forgets,” the network primarily hosts “the permaweb” — a permanent, decentralized web with a number of community-driven applications and platforms.
The Arweave network uses a native cryptocurrency, AR, to pay “miners” to indefinitely store the network’s information.
The coin seeks to ensure the “collective ability to store and share information between individuals and across time to new generations.”
Its flagship permaweb is built on top of Arweave’s “blockweave,” a variation of blockchain technology in which each block is linked to both the one immediately prior and also a random earlier one.
Arweave says this incentivizes miners to store more data because they need to be able to access random previous blocks to add new ones and receive rewards.
Should I buy it today?
Arweave can be a lucrative investment, but take the time to read at least several price predictions from leading analysts and do market research before making a commitment. Take all investment advice with a grain of salt.
AR price prediction
Coin Codex is optimistic about the price of AR. They predict it will rise by 1.96% to $31.46 at the beginning of March.
Their technical indicators show the current sentiment is Neutral. However, the Fear & Greed Index shows Extreme Fear.
Over the past month, AR recorded 14/30 green days with less than 15% price volatility, based on which it would be a good time to buy Arweave now.
Arweave on social media
AR Price prediction #arweave 17.9 – 18.5 in March (take it or leave it) pic.twitter.com/q2Ko2oA3cb
— FaceX99 (@facex99) February 26, 2022