A closely followed crypto analyst is making a bullish forecast for Arweave (AR), a popular web 3.0 coin project focused on decentralized data storage. Here are the details…
Coin Bureau highlighted this web 3.0 coin project
In a new video, Guy, host of Coin Bureau account, tells his 1.99 million YouTube subscribers about people’s growing demand to protect their information. The analyst says that Arweave (AR), a protocol already used by Solana (SOL) to record transaction history, as we’ve also reported on Cryptokoin.com, is already meeting the growing demand to store data immutably. Guy uses the following statements:
All available metrics show that Arweave adoption is still on an exponential trend regardless of its price. To illustrate, when I took on Arweave last August there were only 151 miners and now there are about 1,200 miners. Arweave has grown from 90,000 wallets to over 155,000 wallets, and the amount of data stored by Arweave has grown from 10 terabytes to over 55 terabytes. On top of that, Arweave’s monthly transaction growth has exploded over the past year and shows no signs of slowing down.
Analyst: AR can rise 400 percent
Based on the on-chain data of the project, the analyst says AR has risen significantly, from its current price of approximately $34.75. He says he could see 400 wins. According to the analyst, Arweave has a medium market cap, which means it has a lot of room for growth. “With adequate integration and decentralized applications driving demand, AR could rise 5x from here in the long run,” he says. Guy points to Polkadot (DOT) as the next platform to use Arweave to record his transactions, using the following expressions:
Arweave founder Sam Williams, in an interview in September, stated that Polkadot (DOT) ) are among the cryptocurrencies that will use Arweave to store their transaction histories. This makes sense, given that Polkadot developers have completely shifted their focus to decentralization over the past year.
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