Today, the decentralized storage network Arweave ($AR) has captured the spotlight as the top daily gainer on Coinmarketcap, boasting an impressive 17% surge in its price.
One of the contributing factors to this surge is the recent announcement by Coinbase International Exchange (CoinbaseIntExch).
The exchange revealed its plans to add support for perpetual futures of Arweave, along with Hedera and Theta, on both Coinbase International Exchange and Coinbase Advanced. The introduction of AR-PERP, HBAR-PERP, and THETA-PERP markets is set to commence on or after 9:30 am UTC on May 9, 2024.
@CoinbaseIntExch will add support for Arweave, Hedera, and Theta perpetual futures on Coinbase International Exchange and Coinbase Advanced. The opening of our AR-PERP, HBAR-PERP, and THETA-PERP markets will begin on or after 9:30am UTC on 9 MAY 2024. pic.twitter.com/YWDou4W0HG
— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) May 2, 2024
This development has generated significant excitement within the crypto community and has contributed to the bullish sentiment surrounding Arweave.
Furthermore, ArweaveEco has recently launched on HackMD, marking another milestone for the network. This integration allows users to permanently decentralize their documents, ensuring accessibility for everyone while maintaining immutability.
The introduction of ArweaveEco expands the utility and reach of the Arweave network, further solidifying its position as a leader in the decentralized storage space.
📢 @ArweaveEco is live in HackMD. 📢
With this integration, you can permanently decentralize your documents, ensuring your content is accessible to everyone, while still immutable.
So what is Arweave?
The Arweave network is like Bitcoin, but for data: a permanent and… pic.twitter.com/aHFHOquUNC
— HackMD 📄 (@hackmdio) May 2, 2024
Arweave Achieved Massive Over 700 Million Transaction Milestone In April
Moreover, Arweave has achieved a remarkable milestone with over 700 million transactions completed on the network in April alone. This impressive figure underscores the growing adoption and utilization of the Arweave platform, highlighting its reliability and scalability in handling a high volume of transactions.
700M+ transactions on Arweave this April.
This is becoming standard for Arweave.
With @aoTheComputer, it may only be a matter of time before we see a 1B+ transaction month on #Arweave.
It's wild to see this happen in real-time. NFA. pic.twitter.com/YrbAqLXNQf
— Only Arweave (@onlyarweave) May 2, 2024
Overall, the combination of CoinbaseIntExch’s announcement, the launch of ArweaveEco on HackMD, and the significant transaction volume on the Arweave network in April has propelled $AR to the forefront of the market as the leading daily gainer.
As the network continues to innovate and expand its ecosystem, investors are closely watching Arweave for further developments and potential growth opportunities in the decentralized storage sector.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Image Source: gabrielhrech/123RF // Image Effects by Colorcinch
