Arweave price prediction: Here’s why AR is soaring

Arweave price surged to the highest level since July 31st. It rose to a high of $17.62, which was about 131% above the lowest level this year. Its market cap surged to over $512 million, making it the 76th biggest cryptocurrency in the world.

Arweave and Meta partnership

Arweave is a community-owned storage platform that makes it possible for people to permanently store their data. Instead of monthly subscriptions, the platform makes it possible for people to store data with a single upfront payment.

Arweave uses the permaweb, which is a global, permanent web of pages and applications that live forever. The cost to store on Arweave tends to fluctuate over time. On average, it costs between $2.35 to $5 per GB.

Arweave’s ecosystem has grown rapidly in the past few months. Some of the top platforms that use Arweave are Verto, Argora, Mintbase, Nina, and Mask Network among other

Arweave price shot upward on Thursday after the developers unveiled a partnership with Meta Platforms, the parent company of Facebook and Instagram. The company is using Arweave to allow users store their digital collectibles on their Instagram platform.

The statement was made by Stephane Kasriel, who is the Commerce, FinTech, and Web3 at Meta Platforms. He previously worked for companies like PayPal and Upwork. In his statement, he said that the company was rolling out the feature on& Polygon& and& Solana.&

We’re rolling this out on @0xPolygon blockchain to start.💜 We’re also expanding the types of collectibles you can display on Instagram to include videos & adding support for @solana and Phantom. Plus new integrations with @OpenSea and @Arweaveteam! [2/6]
— Stephane Kasriel (@skasriel) November 2, 2022