The Arweave price skyrocketed by 28% over the past seven days, reaching the peak price of $6.36 on Nov. 2, as appreciation for its token and the data storage services offered by the project started to increase.
Arweave is the top-performing cryptocurrency for the past seven days among CoinMarketCap’s ranking for the top 100 cryptos, with its price also around 48% higher than two weeks ago.
Arweave’s token, AR, has seen solid performance in the last few weeks, but before that, the project was trading sideways, at around $4 at the beginning of October.
About ten days into the previous month, AR price dropped under the $4 mark, which started acting as a resistance.
However, around October 20, the project started seeing a price increase, slowly breaking one barrier after another, allowing AR to reach the current levels. Some of the most challenging resistances were found at $4.5, $6, and $6.5.
AR did not manage to reach the $6.5 level, as it got rejected just as it was approaching it.
The price was then rejected back to a support at $6, which is where it sits at the time of writing. While AR saw a weekly price increase of 28%, its daily performance is not as optimistic.
Due to the price rejection, the token is slightly over 3% lower than 24 hours ago at this time. Its daily trading volume is also down by around 16%, currently at $13.42 million.
What’s behind Arweave’s recent surge?
Arweave has seen impressive performance over the past two weeks, and while it currently struggles to maintain it, the fact remains that the project has come a long way compared to mid-October figures. This recent success has caught the attention of buyers, bringing more people to the project.
As for what caused the surge, it was a combination of factors. The first of which is the fact that Arweave has a unique concept that sets it apart from other cryptos.
It operates as a decentralized data storage platform that uses blockchain technology to create a permanent, tamper-resistant data archives.
Also, any data stored on its network will remain there indefinitely, ensuring that it will stay accessible and unaltered over time, which cannot be said for cloud storage solutions.
The recent growth may also be attributed to the growing appreciation for Arweave’s native token, which allows users to pay for said storage and data retrievals. Finally, the project’s community and technology also attracted significant interest, especially from those committed to decentralization and data permanence.
GambleFi Project TG.Casino Steals The Spotlight As Its Presale Explodes
While Arweave may have attracted the eye of traders with its recent surge, the same could be said for a presale of the new GambleFi star, TG.Casino (TGC). The project offers an exclusive place for online, anonymous crypto gambling.
Its platform also claims that it is fully licensed and 100% safe. The platform adds that it offers 25% cashback on all losses when betting TGC tokens, which gives its users an incentive to turn to its native cryptocurrency.
So far, it has raised $1.66 million, with the current price of its token at $0.15.
Anyone interested in buying TGC can do so in exchange for ETH, BNB, or USDT. The presale aims to raise $2.5 million.
Those who decide to join the project can expect to receive benefits such as special rewards, the best possible price of the token, the opportunity to become a high roller, and to start earning right away through passive tips.
Buy TGC, and learn more about its project, here.
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