The Arweave Price has risen in the past few days, and its AR token has hiked to $36.8, the highest point since February 10th this year. It rose by about 64% from its lowest this year hence a total market cap of about $1.8 billion.

What is Arweave?

Storage is a huge industry, and leading firms include Microsoft and Alphabet. The industry generates millions yearly, and it will still increase the amount of data used by individuals and companies.

Similarly, the web and app hosting service industry is dominated by companies like GoDaddy and Dreamhost. They are centralized and powerful enough to stop their services to a company whenever.

Arweave comes in here as a blockchain venture that uses permaweb technology to ensure the permanent storage of data in its ecosystem. Contrary to networks like GoDaddy, deleting these data is impossible.

The operation is quite simple since a user only needs to give the command to the system then the data storers decide whether to multiply the data at hand. Maintainers pick this data, scan it for toxic material, and the data is then stored globally rather than in central servers.

Recently, the Arweave price has improved as developers coupled with Polygon to launch a hackathon. Furthermore, Ardrive raised $17.2 billion for projects created on the Arweave protocol, and investors similarly gave Akord $2.3 million.

Arweave price prediction

The four-hour chart indicates the AR price with a solid bullish map lately. In its path, it was able to move above the key resistance level of $33.35, the lowest on February 1st.

The coin also rose above the 25-day and 50-day moving averages, and oscillators like the Relative Strength Index also increased to the overbought point.

Hence, the Arweave price may continue to rise soon as bulls target the key resistance level at $40.

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