Arweave (AR) Continues Its Hot Streak As One Of The Best Performing Altcoins – Here’s Why

Top crypto channel Coin Bureau shares with their subscribers about a decentralized data storage solution altcoin project that has been one of the top-performing coins over the past weeks.

Arweave Overview

Arweave is a decentralized data storage solution aiming to ensure that all the data is easily available and accessible indefinitely.

Arweave has much in common with other decentralized storage platforms like Filecoin and Sia, both of which also use cryptocurrencies to create marketplaces for users who want to buy and sell data storage services.

The difference between Arweave is that all data stored on Arweave is stored forever. Not only that, but users only need to pay once to store that data. By contrast, every other decentralized storage cryptocurrency project only stores users’ data for as long as they are paying the computers connected to its network for that service.

“What sets Arweave apart from competitors is its commitment to permanently storing data through unique incentives built around its AR cryptocurrency,” the trader says.

Further, files stored on Arweave are accessible through traditional web browsers, meaning they don’t require any special wallet or blockchain service. Other notable features in development include a voting mechanism that allows its users to moderate illicit content.

AR Tokenomics

AR is Arweave’s native cryptocurrency coin. It is used to pay transaction fees on Arweave, including storing data, retrieving data, interacting with permaweb applications, and sending AR coins.

AR has a maximum supply of 66 million, and 55 million AR were minted when the Arweave main net went live in June 2018. The remaining 11 million AR will be minted as block rewards for Arweave nodes.

Price Analysis

“AR seems to have some robust tokenomics because its price action has been pretty incredible,”

The crypto KOL points out that AR’s price mirrors that of Solana’s SOL coin, and that’s no coincidence. This is because Arweave stores all of Solana’s blockchain data, and that requires purchasing AR.

“This means that Solana is creating a strong stream of demand for the AR coin. The more Solana is used the higher the demand for AR will be.”

However, Coin Bureau also highlights that AR seems to have slightly better tokenomics than SOL. The fact that AR has a much smaller market cap indicates that it’s much easier to push up the price of AR than of SOL. It’s even possible that there’s a point at which Solana’s adoption will do more for the price of AR than the price of SOL. Due to this dynamic, AR also has the added advantage of being an up-and-coming cryptocurrency.

Moreover, as AR is not listed on any reputable exchanges besides Binance and Houbi, a big name exchange listing could pump its price.