Arweave launches Testnet capable of high scalability, invites community to join

Arweave released the public testnet for Arweave AO, a new blockchain network that aims to offer significant scalability improvements, and invited tech enthusiasts and community members to join on Feb. 27.

Timeline of Arweave

The crypto market seems to be taking a break from the aggressive buying witnessed in January 2023, causing the majority of major cryptocurrencies to turn sideways. However, this consolidation could recuperate the bullish momentum and offer entry opportunities to sidelined traders.

Despite the recent bearish slump in the cryptocurrency market caused by the collapse of the crypto trading platform FTX, altcoins are still worth keeping an eye out for in December 2022, with some gems found among those featuring the lowest market capitalization.

The host of popular YouTube channel Coin Bureau says that an altcoin that has jumped 50% in the last week is one to keep an eye on for the next crypto bull market. In a new video update, the pseudonymous crypto analyst known as Guy tells his 2.

AR, the native token of a relatively less-known decentralized storage service called Arweave, has gained over 45% over the past week amid the news that Meta has chosen the protocol to archive its creators' digital collectibles.

AR's price shows much strength after breaking out from its long downtrend movement.   AR trade with good volume, breaking out from a downtrend as price eyes a rally to a region of $27.

Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), the two most valued cryptocurrencies in the world, traded lower on Thursday after the US Federal Reserve increased interest rates by 75 bps at its latest meeting. Fed Chairman Jerome Powell, meanwhile, said it's very premature to think about pausing rate hikes.

Web2 giant meta interrogates Arweave for storing digital collectibles on their social media platform Instagram causing a massive inflow in AR price. Moreover, this perpendicular growth assisted buyers in forming a bullish reversal pattern called the double bottom.

Meta shares might be on a continual death spiral, but news of a major NFT integration in the pipeline has sent two cryptocurrencies to the top of the trending charts. Meta announced on Tuesday that users of its Instagram and Facebook social media platforms will soon be able to create and sell NFTs directly to fans via the platforms.

Meta has integrated decentralized data storage protocol Arweave to permanently store digital collectibles from Instagram. The post Meta to use decentralized data storage protocol Arweave to store NFTs from Instagram appeared first on The Block.

Arweave is partnering with Meta to store non-fungible tokens (NFTs) on Instagram, the protocol's CEO and co-founder Sam Williams announced on Twitter. The post Arweave teams up with Meta for NFT storage, AR token spikes 61% appeared first on CryptoSlate.