Arweave Price Prediction 2024: AR Pumps But is There More to Come?
Key Takeaways
- Arweave is a blockchain designed to help people store their data.
- Its native coin, AR, reached an all-time high in November 2021.
- One price prediction says it may reach $29.75 next year.
The storage token Arweave has experienced a remarkable surge in a strong rally, with its AR price soaring over $11. This substantial upside move has propelled Arweave to one of the top gainers among the top 100 ranked cryptocurrencies in the last 24 hours, as traders are drawn to its innovative solution for permanent on-chain storage.
Arweave did not immediately respond to a request for comment.
But what is Arweave (AR)? How does Arweave work? Let’s see what we can find out, and also take a look at some of the Arweave Price Predictions that were being made as of February 16, 2024.
Arweave Coin Price Prediction
Let’s examine some of the Arweave price predictions being made on February 16, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.
| 2024 | 2025 | 2030 | |
|---|---|---|---|
| Prediction #1 | $25.62 | $29.75 | $87.23 |
| Prediction #2 | $7.28 | $20.63 | $132.50 |
| Prediction #3 | $19.65 | $29.25 | $198.92 |
First, CoinCodex said the coin would fall to $10.91 by February 21 before recovering to $12.90 by March 15. The site’s technical analysis was highly bullish, with 26 indicators sending upbeat signals and just four making bearish ones.
Arweave Price Prediction for 2024
DigitalCoinPrice said that AR would reach $25.62 this year, while Changelly suggested it would go to $7.28 in December. PricePrediction.net thought Arweave would trade at $19.65 in 2024.
Arweave Price Prediction for 2025
Moving on, Changelly thought AR would trade at $20.63 in 2025. DigitalCoinPrice said it would stand at $29.75 while PricePrediction.net said it would be worth $29.25 next year.
Arweave Price Prediction for 2030
Moving on to a more long-term Arweave price prediction, DigitalCoinPrice said it would reach $87.23 in 2030. PricePrediction.net thought it would stand at $198.92. Changelly’s Arweave price forecast saw it trade at $132.50
Google Gemini AI Price Prediction for Arweave (as of February 16)
Google’s Gemini platform gave the following price prediction for Arweave on February 16. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve.
Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.
Short-term (next 3 months):
- Expected price: $9.45
- Factors to Consider:
- Overall market sentiment: The price of AR could be impacted by the overall sentiment towards the cryptocurrency market as a whole.
- Developments in the Arweave ecosystem: Any significant advancements or partnerships within the Arweave ecosystem could positively impact the price.
- Regulatory changes: New regulations could affect the demand and supply of AR, impacting its price.
Medium-term (next 6 months):
- Expected price: $16.64
- Factors to Consider:
- Overall market sentiment: The overall health and direction of the cryptocurrency market will significantly impact individual coin prices.
- Arweave-specific developments: Upcoming news, partnerships, or technological advancements could affect the price.
- Regulatory landscape: Changes in regulations surrounding cryptocurrencies could impact their adoption and value.
Long-term (next 5 years):
- Expected price: $14.38
- Factors to Consider:
- Market sentiment: Public perception and confidence in AR heavily influence its price.
- Technological advancements: Developments within the Arweave network and broader blockchain technology can drastically impact its value.
- Regulations: Government policies and regulations surrounding cryptocurrencies can significantly affect their price.
- Adoption and usage: Increased adoption and use cases for AR can drive up its price.
- Competition: Emerging projects and competing platforms can influence AR’s price based on their success.
- Global economic conditions: Broader economic trends can indirectly impact the price of AR.
AR Price History
Now, let’s examine some of the highlights and lowlights of the Arweave price history . While we should never take past performance as an indicator of future results, knowing what the coin has achieved can provide us with some very useful context if we want to make or interpret a Arweave price prediction.
Arweave first hit the open market in May 2020. It was worth about $0.70 then, and enjoyed some success over the rest of the year, closing it at $2.63. Early 2021 saw the crypto market go through a bull run and AR reached a high of $34.23 on April 1. It then fell down over the summer before recovering in the autumn, hitting an all-time high of $90.94 on November 5. AR closed the year at $58.92. This meant it had risen by 2,140% over the course of the year.
In 2022, both crypto as a whole and AR in particular suffered. The market went through a string of crashes and Arweave closed the year at $6.17, down nearly 90% year-on-year.
Arweave in 2023 and 2024
2023 was a somewhat better year for AR. It started off well, reaching a high of $13.75 on February 19, but then it went on a bear run, reaching a nadir of $4.22 on June 10. This came as the market was shaken by Crypto.com canceling its American institutional activities. In turn, this followed the news that the United States Securities and Exchange Commission (SEC) was suing the Binance and Coinbase exchanges.
Although there was a recovery after this, with AR reaching $6.25 on July 5, it fell again. By August 18, Arweave was trading at around $4.65. It then closed 2023 at $9.6488 before going on a rollercoaster between January and February 2024. It reached and topped $10 on January 1, 14 and 19, then fell down between $9 and $10 and jumped to $12 on February 15.
On February 16 2024, AR was worth $11.89.
At that time, there were around 65.4 million AR in circulation, representing the total supply. This gave the coin a market cap of around $774.4 million, making it the 91st largest crypto by that metric.
Is Arweave a Good Investment?
It is hard to say. While AR has performed pretty well recently, it did underperform in 2023. That said, Arweave does offer people the chance to store their data on a permanent basis, giving the platform a definite purpose.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in AR.
Will Arweave go up or down?
No one can really tell right now. While the Arweave crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Should I invest in Arweave?
Before you decide whether or not to invest in Arweave, you will have to do your own research, not only on AR, but on other, similar, coins and tokens such as Filecoin (FIL) or Sia (SC). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
Who is the Founder of Arweave?
Arweave was founded in 2017 by Sam Williams. The company is headquartered in London, UK.
Fact Box
| Supply and distribution | Figures |
|---|---|
| Maximum supply | 66,000,000 |
| Circulating supply (as of February 15, 2024) | 65,454,185 (99% of maximum supply) |
From the Whitepaper
In its technical documentation, or whitepaper , Arweave says that Arweave protocol is a new mechanism design-based approach to achieving a sustainable and permanent ledger of knowledge and history.
Arweave (AR) Explained
Arweave is a blockchain designed to help people store their data. The system, which was originally called Archain, came out in 2018. British computer scientists Sam Williams and William Jones are its founders, and it is powered by the AR coin.
How Arweave Works
Arweave uses a consensus mechanism called Proof-of-Access (PoA). People who want to verify transactions and add blocks to the blockchain have to check that a group of transactions contains a marker taken from an earlier group. If the marker is there, the transactions can be verified and blocks are added.
People who hold the AR coin can vote on changes to the Archain platform. The system’s miners – people who verify transactions – get AR as a reward. People can also buy, sell, and trade it on exchanges.
Arweave Attention Tracker
FAQs
Will Arweave reach $100?
It might do, but not for some time. PricePrediction.net thinks AR can reach three figures in 2029.
Keep in mind that the highest Arweave has ever traded at is $90.94, which it got to in November 2021.
What is Arweave used for?
The AR coin rewards miners on the Arweave blockchain. People can also buy, sell, and trade it on exchanges.
Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
