Crypto News

Arweave Ecosystem Sees Remarkable Surge As $AR Token Hits Yearly High

The Arweave ecosystem is attracting increasing attention as the $AR token experiences significant growth, with a remarkable 110% surge over the past 90 days. 

In the last week alone, $AR has surged by 72%, and in the past 24 hours, it has seen a 25% increase, reaching a yearly high at $16.27, and the momentum continues.

According to data from Lookonchain, several prominent whales strategically accumulated substantial amounts of $AR before the recent price surge, resulting in significant unrealized profits.

One such whale, known as “qE7GpV,” amassed 1.1 million $AR ($13.48 million) from Binance between Feb 6, 2022, and Oct 12, 2023, at an average cost of $12.22. With the surge in $AR price, this whale has now accrued approximately $3.5 million in unrealized profits.

More Notable $AR Whale Movements To Monitor

Another whale, identified as “F4260M,” withdrew 827,439 $AR ($5.6 million) from Binance on various occasions, with an average cost of approximately $6.83.

Currently, this whale holds an unrealized profit of around $7 million on $AR, with a return on investment (ROI) exceeding 120%.

Similarly, “6H6bMG” withdrew 391,558 $AR ($5 million) from Binance just two days ago when the price was approximately $12.8, resulting in an unrealized profit of approximately $1 million in a span of only two days.

Market attention is now closely focused on these wallets, as there is speculation that they may soon decide to sell, capitalizing on their profits.

The surge in interest and investment in the Arweave ecosystem underscores the growing recognition of its potential within the cryptocurrency space.

As AR continues to exhibit bullish momentum, investors and observers alike are monitoring the market dynamics and the actions of key players, anticipating further developments in the coming days.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.

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Image Source: gabrielhrech/123RF // Image Effects by Colorcinch

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