Coin Bureau Is Bullish On Arweave Decentralized Storage Network

According to a popular crypto analyst and the host of Coin Bureau, Arweave (AR) flashing bullish signs, as the need for decentralized data storage is seemingly growing.

In a recent update, the analyst shared with Coin Bureau’s 1.99 million YouTube subscribers Arweave adoption is growing exponentially.

He points out that Arweave (AR), a protocol used by Solana (SOL) to record transaction history, is already meeting the growing demand to store data indefinitely.

“All its available metrics suggest Arweave’s adoption is still in an exponential trend regardless of its price. To put things into perspective, when I covered Arweave last August, there were just 151 miners and there are now nearly 1,200. 

Arweave went from 90,000 wallets to over 155,000 wallets and the amount of data stored by Arweave has jumped from 10 terabytes to over 55 terabytes. As a cherry on top, Arweave’s monthly transaction growth has been explosive over the last year and is showing no signs of slowing down.”

Looking into on-chain data, the analyst notes that AR has a lot of room to grow from its current price of $37.61.

“Arweave has a medium-sized market cap and that 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.”

According to Coin Bureau, Polkadot (DOT) could be the next platform use Arweave for recording its transactions, referring to an interview with Arweave founder Sam Williams.

“In a September interview, he said that Polkadot is among the cryptocurrencies that will be using Arweave to store their transaction histories.

This makes sense given that Polkadot developers have turned their focus to total decentralization over the last year or so.”