Why is Arweave going up: Analysts predict AR expected to gain 400%

The cryptocurrency market has gained significantly over the past few days, and the global cryptocurrency market cap is now at $2.2 trillion. The positive performance has created a bullish trend for most altcoins.

Coin Bureau, one of the most popular crypto analysts, has told his nearly 2 million subscribers about an altcoin that could gain by 400% in the coming days. The analyst noted that the token would gain because of growing interest to protect information.

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Coin Bureau predicts 400% Arweave gains

Coin Bureau has predicted a 400% gain in the AR token. Arweave (AR/USD) is a protocol that has been adopted by the Solana blockchain to record transaction history. The protocol is witnessing a surge in demand as people look towards better ways to store data.

According to the analyst, the current metrics show that the adoption of Arweave was growing despite its price movement. He mentioned the growth of miners that have jumped from 151 last August to around 1200 presently. Additionally, wallets have gained from 90,000 to more than 155,000.

Coin Bureau also noted that the number of monthly transactions on the protocol has increased significantly over the past year. Moreover, the growth was steady, and it was not showing any signs of slowing down.

Following the positive developments happening within the Arweave ecosystem, Coin Bureau noted that over 400% gain could be recorded. The strong upside potential could result in the coin making a massive jump from its current price of $37.32.

Coin Bureau said,

Arweave has a medium-sized market cap, which means it has lots of room to grow. With enough integrations and decentralized applications driving demand, AR could easily 5X from here in the long term.

Arweave’s adoption by Polkadot

The analyst further pointed out the potential adoption of Arweave by the Polkadot network. Polkadot would use Arweave to record transactions. According to Coin Bureau, the founder of Arweave has in September said that Polkadot was among the blockchains set to use Arweave to store transaction history.

He concluded that this partnership was expected, given that “Polkadot developers have turned their focus to total decentralization over the last year or so.”