Arweave (AR) Up 42% on Testnet Launch for Scalable Blockchain “AO”
Arslan Butt•Wednesday, February 28, 2024•1 min read
Arweave (AR) skyrocketed over 42% today, leading the gainers chart in the crypto market. This surge is attributed to the public testnet launch of Arweave AO, a new blockchain aiming for significant scalability improvements.
Arweave AO targets a wide range of applications, including social media and artificial intelligence (AI).
Key Points about Arweave AO
- Modular architecture: Enables high transaction volumes and parallel processing.
- Operating System (AOS): Supports the Lua programming language for diverse applications.
- Compatibility: Integrates with Ethereum Virtual Machine and other protocols via WebAssembly.
- Data storage focus: Handles large datasets required for AI models and offers “hyper-parallel” computing capabilities.
Testing Phase
- Gateway Address Registry (GAR) and Observation Incentive Protocol: Evaluated for network scalability and functionality.
- AR.IO Testnet: Establishes a robust network of gateways for the decentralized web with IO token incentives.
- Participant Involvement: Setting up gateways encouraged for network diversity and resilience.
AR/USD Technical Analysis
- Current Price: $23.08
- Recent Surge: Price has broken above the previous resistance level of $20, indicating a potential bullish breakout.
- Relative Strength Index (RSI): Currently at 81, suggesting the market might be overbought in the short term.
- Moving Averages: The 50-day and 200-day moving averages are trending upwards, indicating a long-term bullish trend.
Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
ABOUT THE AUTHOR
See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
Related Articles
Comments
Subscribe
Login
Please login to comment
0 Comments
Oldest
Sidebar rates
Add 3442
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals