Arweave Price Prediction as Instagram uses Storage Service, AR up 45% in 7 Days

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.

Timeline of Arweave

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.

Bitcoin bulls have a fight on their hands to keep the world's largest cryptocurrency above the US$20,000 support line. So far so good, but having dipped a further 0.8% to US$20,300 in the past 24 hours, nothing is a given.

The market is frequently introduced to audacious blockchain projects that are underdeveloped and frequently miss the criteria necessary to cater to an educated investment pool. But Arweave brought a fantastic blockchain idea that enables people to bet favourably on its potential value in the cryptocurrency market.

Many people around the world view cryptocurrencies as a means of making serious cash. Normally, to enjoy such a huge return on investment, one has to select the right coin with a good offering.

It's in times of turmoil that fortunes are made. Digital modes of transactions have been around for almost a couple of decades. But recently, cryptocurrency rattled the industry's roots when many coins went over the roof with their prices quadrupling. Everything went smooth until more players joined in, and the environment instantly shifted to more …