While the broader crypto market is thriving, Arweave has fared as a top performer, pumping 41% in the last day. Currently trading at $23, AR is at its highest price since May 2022.
AR Pumps Following Technical Improvements and Bullish Price Action
Advances in Arweave’s fundamentals and a higher-time-frame chart breakout enabled the recent pump.
In a timely announcement, Arweave’s founder, Sam Williams, noted that the blockchain has been facilitating over 600 transactions per second. According to Sam’s data, this makes it the second fastest network after Hedera.
The display of scalability illustrates Arweave’s effectiveness as a decentralized storage and computing network, providing notable interest given the DePIN frenzy.
In an earlier tweet, Sam established Arweave’s new testnet for ao The Computer. According to the tweet, ao The Computer is a “hyper parallel computer” that leverages “Proof-of-Stake computation to let any number of processes execute in parallel.”
This will broaden Arweave’s capabilities, enabling developers and engineers to power their computationally-intensive algorithms using the network; this includes training AI models.
Moving to its price action, Arweave’s recent pump entails a break above its bear market resistance level.
Alongside fundamental advancments, the breakout enhances investors’ confidence about Arweave’s trajectory, driving massive buy-side demand.
As a result, it has pumped 41% today, 65% this week, and 155% this month. It holds a $1.4 billion market cap and a $485 million trading volume, up 580% today.
TradingView analyst Alan Santana believes Arweave will continue to make higher highs and higher lows long term. According to the analyst’s price chart, its key price targets are $42, $57, and $71.
However, Alan notes that Arweave may be destined for a pullback on the lower time frame after its parabolic run. While he does not provide specific targets, there is a possibility of retesting the bear market resistance level around $16.
This could also kickstart a consolidation phase for Arweave, enabling other altcoins to run as traders rotate their profits.
With that in mind, another crypto showing massive potential is Green Bitcoin. It is currently undergoing a presale and swiftly approaching the $1.2 million milestone.
New Altcoin to Watch: Green Bitcoin ICO Nears $1.2M at Presale
As an ERC-20 token inspired by Bitcoin, Green Bitcoin offers energy efficient transactions, generous rewards, and widespread access across the crypto market.
Launching on the Ethereum network also makes Green Bitcoin compatible with other Ethereum-based dApps, broadening the token’s potential use cases.
But as well as being eco-friendly, Green Bitcoin looks to attract speculators with its predictions game, inviting users to forecast whether Bitcoin’s price will go up or down the next day. They earn rewards by guessing correctly.
The $GBTC token is at the heart of the ecosystem, with users required to stake it for game access. This provides an utility-driven demand stream, adding to Green Bitcoin’s long-term potential.
But as well as accessing the prediction market, stakers will receive passive rewards for locking up their tokens. Today, they can earn a 255% APY, but this will fall as more tokens are staked.
Currently undergoing a presale, Green Bitcoin has raised almost $1.2 million so far. The total raised has shot up by nearly $300K in the last day, signaling a vote of confidence from the investment community as the broader market rises.
The current presale price is $0.4982, but this will increase throughout the campaign, with the next uptick occurring in just four days.
