What Is Arweave (AR) Crypto And Why It's Up 98%

Arweave AR/USD — a cryptocurrency project dedicated to permanent data hosting — saw significant price growth earlier today ahead of its listing on the world's top crypto exchange.

What Happened: According to CoinMarketCap data, Arveave grew by over 97.77% from its 24-hour low of $25.17 to a high of $49.78 before correcting to its current price of $40.84 as of press time.

This major price movement follows an announcement by cryptocurrency exchange Binance that it will list Arweave, facilitating its trading against Bitcoin BTC/USD, Binance Coin BNB/USD, Binance USD BUSD/USD, and USDT USDT/USD.

See also: Cardano, Dogecoin Spike As Bitcoin, Ethereum Lose Momentum On Elon Musk, Binance Jolts

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

This network is the basis for what its team calls the "permaweb" — a permanent decentralized web that hosts several community-driven applications and platforms. The AR token is used to reward miners who share and save all that data and to pay to store any new data.

Posted In: CryptocurrencyFintechMarketsTechTrading IdeasBitcoincryptocurrencies
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...