It is July 20, 2021, and both the stock market and crypto market have seen a significant downturn. Bitcoin is now trading below the $30,000 range, and there are expectations that it could go down more. But what about the altcoins, specifically one particular cryptocurrency that saw an astonishing increase from a few cents to almost $30 in April of this year? That’s a 2500% increase!
Obviously, with the market tumbling, the price of this crypto has also drastically fallen, but could it make a serious comeback once the market eventually picks up? And what crypto asset is this?
This Arweave price prediction article will take a look at Arweave and its native token AR and analyze where its price will be going in both the short and long-term future. We will also show where to buy such a token for those interested in obtaining some for their portfolio.
Arweave (AR) Historical Price Analysis
Arweave was first announced back in August of 2017, but only launched in June 2018. It wasn’t until October 31, 2019, when Coingecko first began to track the price of AR. When it did, it had a price of $0.94. The price ranges around there until the beginning of August 2020, when it began to experience its first significant uptrend. It reached $3.56 on August 17, 2020, before peaking at $6.99 by August 29. It then began slump back down but remained within the low dollar range.
It wasn’t until the beginning of January 2021 when the price began to increase along with the rest of the crypto market. By January 30, 2021 it reached $5.00. By February 28 it reached $9.24.
By March 31, 2021, the price reached a new all-time high, $32.46, and again on April 8. It then dropped like a rock until it went back up almost the end of April, reaching $30.00. Then when the entire crypto market crashed in mid-May, the price for AR, not surprisingly, also dropped, losing just a little over 50% of its value in about a week.
The price struggled between $14-$16 for the rest of May and mid-June until it dropped again to $8.92. At the time of writing this article, the price is hovering around $7.81.
Current Price, Market Cap, & Supply Details
According to its Yellowpaper, AR is Arweave’s native token and has a maximum supply of 66 million. According to CoinMarketCap, there are currently 33,394,701 AR in circulation.
Arweave held a token pre-sale event in August 2017 in which 10.8% of the initially generated token supply was sold, and two public sales were completed in May 2018 and June 2018 in which 7.1% and 1.1% of the supply was sold, respectively. The company allocated an additional 19.5% for a private sale, 2.9% for project advisors, 13% for the team (subject to a five-year lock-up with 20% released per year), 19.1% for ecosystem development, and 26.5% for future project use (subject to a five-year lock-up with 20% released per year).
It is currently ranked #121 according to CoinMarketGap (#126 on Coingecko). It has a Market Cap of $266,495,575 with a $8,684,272 24h trading volume. Within the last 24 hours, it has a -2.90% price change and a -24.37% price chance within the last 7 days.
Arweave (AR) Future Price Forecast Predictions
The crypto market has crashed in mid-May, and it is still dumping, despite the relatively bullish news about Bitcoin, Ethereum and others. It is now July, and the market is still down, so it is safe to say that it will take some time for the market to start picking up again.
That is why it is not surprising that Wallet Investor ranked AR as bearish, even though, its various graph outlined a positive price outlook. That website even predicts that by August, the price will range somewhere between $5 – $7.65.
Trading beasts and Digitalcoin have also outline positive forecasts for the price. Tradingbeasts expects the price to be between $6.86 – $10.09 by August of this year.
Short Term Forecast
Long Term Forecast
Arweave Price Prediction 2021
According to the graph above, the price is expected to range at around $10.76 by August, reaching $11.63 by October. For anyone buying anytime beforehand, this is a rather nice increase.
Arweave Price Prediction 2022
By 2022 the price is expected to increase somewhere between $11.39 (January) to $14.46 (October). That is a roughly 74.50% average increase from the current price.
Arweave Price Prediction 2025
By the time 2025 rolls around, the graph expects the price to reach sometime close to its original all-time high. This year we can expect to see an average of 198.91% increase! Almost double from the current price. April and December are expected when the price is supposed to be the closest.
Is Arweave a Good Investment?
Based on the charts above, it does seem like it to be a good investment. Even with the current market, with the amount of positive news about Bitcoin and cryptocurrencies in general, especially DeFi, it will only be a matter of time before the market starts to go back on a bull run trend.
However, there is one thing that every investor needs to be aware of, and that is competition. Currently, the biggest competitor by far is Filecoin. Then you also have Siacoin, but Filecoin is curently at the top 30 of all cryptocurrencies on the market. It has a massive warchest with a whole series amount of partnerships. While it is not a guarantee Arweave could be pushed out, it is something to note before investing.
How to Buy Arweave?
Arweave can be bought at a few well-known exchanges. The most prominent ones are; Binance, Huobi Global, Gate.io, Bittrex, CoinEx, BitMart, and Bilaxy. It is important to note that only those exchange that has a sufficient amount of liquidity and volume should be trusted to buy/trade AR.
More Information About Arweave
What is Arweave?
Arweave is a decentralized storage network that seeks to offer a platform for the indefinite storage of data. Describing itself as “a collectively owned hard drive that never forgets,” the network primarily hosts “the permaweb” — a permanent, decentralized web with a number of community-driven applications and platforms.
The Arweave network uses a native cryptocurrency, AR, to pay “miners” to indefinitely store the network's information.
The project was first announced as Archain in August 2017, later rebranding to Arweave in February 2018 and officially launching in June 2018.
According to its yellow paper, Arweave seeks to ensure the “collective ability to store and share information between individuals and across time to new generations.” In order to accomplish this goal, its flagship permaweb is built on top of Arweave's “blockweave,” a variation of blockchain technology in which each block is linked to both the one immediately prior and also a random earlier one. Arweave says this incentivizes miners to store more data because they need to be able to access random previous blocks to add new ones and receive rewards.
Arweave is focused on building a sustainable ecosystem around the network. In June 2020, it unveiled “profit-sharing tokens,” which allow developers to receive dividends when network transaction fees are generated from their application, and it hosts incubators to support the building of permaweb-based apps. The project also works with startups through its “Boost” program, offering free storage and access to the Arweave team and industry investors.
In March 2020, Arweave announced that it had received $8.3 million in funding from Andreessen Horowitz, Union Square Ventures, and Coinbase Ventures. This followed an earlier November 2019 investment also from Andreessen Horowitz and Union Square Ventures, as well as Multicoin Capital.
Partnership with Solana
One major partnership that has caught a lot of attention was its partnership with Solana. It was announced on July 31, 2020, that Arweave had partnered up with the fastest blockchain, Solana. With a capacity to generate 50,000 transactions per second, it has been estimated that the blockchain would need 4 petabytes of data each year. Clearly, that needs to be stored somewhere. Hence, Solana seeks to utilize Arweave's scalable and permanent data storage by establishing a bridge in order to leverage the amount of storage it will need.
This bridge, known as the SOLAR Bridge, was announced on December 22, 2020.
To put things into perspective, Solana chose to partner up with Arweave and not Filecoin, which is currently the top decentralized data storage. Arweave can expect to be very busy storing much of Solana's data in the next year or so.
Arweave was founded by Sam Williams and William Jones, two Ph.D. candidates at the University of Kent. Williams came to the project with experience in decentralized and distributed systems, having developed an operating system called HydrOS as a part of his studies, while Jones' focus was on graph theory and neural networking. While Williams dropped out of graduate school to focus on the company, Jones left the project early on in mid-2018 and completed his Ph.D.
According to Williams, he came up with the idea while walking up a mountain in Scotland, later bringing the concept to Jones, with whom he developed the technical details. After launching Arweave, Williams was later named an advisor to Minespider, a company providing blockchain-based supply chain tracking for the raw materials industry, and he has served as a mentor for the Techstars accelerator program.
Although Arweave was founded with centralized leadership, it launched a decentralized autonomous organization (DAO) in January 2020, which comprised of core community members to further the development and expansion of the network and its ecosystem.
In conclusion, Arweave does seem to be a good investment. Its token price has seen a massive drop, which could be a good, if not a great, opportunity to buy. It is also decentralized, making it a point of attraction for any user who wishes to support this growing new way of doing business.
However, beware of competition. Filecoin is Arweave’s biggest competitor, and if they are not careful, it could completely derail them right out of the market.
But in terms of price action alone, the AR token does seem to poise to reach its all-time high, and if adoption continues, perhaps it could even go beyond it.