Why is Arweave (AR) Price Up By 40%?

Arweave (AR), a leading decentralized storage protocol enabling permanent archival of application data and web pages, has abruptly surged over 40% in a breakout rally fueled by fundamental network improvements.

The sharp move makes AR a gainer among the top 100 largest market cap cryptocurrencies as attention returns to the innovative project. It is also the top gainer on Binance. We dive into the latest developments, sending Arweave’s native token parabolic.

Founder Highlights Network Throughput Scaling 6X

In a timely tweet amidst the rekindled AR buying frenzy, Arweave founder Sam pointed out a key recent milestone – processing over 600 transactions per second (TPS) smoothly.

“Arweave has been running at >600 TPS today. Highest throughput of any permissionless blockchain,” Sam declared, emphasizing benchmark-topping overall efficiency.

This demonstration of real-world layer 1 capacity scaling helps support Arweave’s narrative and value proposition against rivals in decentralized storage and computing. The developments come right as speculation pivots back towards the network’s growth potential.

Arweave AO Testnet Launch Enables New Use Cases

Beyond base layer optimization, Arweave further propelled its native token by unveiling the initial testnet version of an ambitious new module called Arweave AO.

Per Sam, the “Arweave AO protocol [is a] hyper parallel computer living inside Arweave” – essentially functioning as a massively parallelized environment for running syncronized proof-of-stake computations over the network.

By expanding functionality to diverse applications like AI data training pipelines requiring immense compute resources spread across nodes, Arweave emphasizes its prioritization of meaningful utility advancement versus stagnating after an initial offering.

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Daily RSI Reaches Overbought Levels

Supporting the roaring rally from under $16 to briefly over $26, Arweave’s daily Relative Strength Index (RSI) momentum indicator predictably surged into overbought territory above 80.

This signals that, despite strong underlying fundamentals, the vertical price move exceeds sustainable velocity at current adoption levels. Some cooling of the euphoria should be expected, opening the door for reinforcing consolidation and potential dip buying to set the stage for continuation.

With AR already up more than 50% in the last 24 hours, holders have much to celebrate while considering prudent risk management if seeking to ride further upside. Still, Arweave reminds markets of its impressive capabilities in attacking blockchain scalability limits that constrained previous architectures.

AR has dropped to $23.44 at press time, after hitting a 24-hour high of $26.67, according to CoinMarketCap data.

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Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency