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After A Lot of Optimistic Happening In AO, Can AR Attain 3x Gains?

The arweave ecosystem this June month highlighted that they are migrating their AR.IO network and protocol to @ao The Computer. 

Arweave shared a prior migration announcement on X by June 21 and stated that they had almost reached the migration process. As of Arweave, block height is 1449000, and the existing AR.IO Smartweave smart contract has been locked to writes and is now in read-only mode.

AR.IO is a decentralized network of permanent domains and gateways for the Arweave ecosystem, and they have been migrating this to @ao The computer, which is a hyper-parallel computer.

What Founder Has in Mind for AO?

Recently, the founder and inventor of Arweave and AO, @samecwilliams, optimistic tweet post at X on June 22nd highlights that in a mere 3 days, @aoTheComputer has gathered $205 Million pre-bridged. He further claimed by sharing an image that AO has become the 28th largest DeFi economy, as its TVL now equals that of Cardano. 

He further patronized that @aoThe Computer is now larger than some other projects in the crypto landscapes like zkSync, Fantom, Scroll, Algorand, filecoin, ICP, and many more. He further said that @aoThecomputer would have a 100% fair launch of 21 million total supply and a 4-year halving would be commenced every 4 years like BTC.

Arweave Fundamental Principle are Same as BTC & ETH!

Arweave also sheds some light on its concepts that the fundamental concepts are the same and approachable if one understands Bitcoin (BTC) and Ethereum (ETH).

AR

Tweet Img of @only arweave| Source: X

It further said that like Rollups are similar to Arweave Bundles, and Proof of Work is similar to Proof of Access, the permanent data appears to be pretty simple.

Net stETH Deposited Overview on DUNE 

Furthermore, the founder said that Defillama chain TVLs are not listed yet for AO, but the curious one could find info on the DUNE, as it has a dashboard to look at the breakdown of its pre-bridge.

AR

Net stETH Deposited Overview | Source: Dune.com

As per dune data at the time of writing, AO looks over $200,000,000 of $stETH that has been deposited into AO, which is appreciable. Thus, as the number says the exact value of Net stETH that was deposited has been 63,695 stETH, which amounted to $223.44 Million, and the total number of stETH depositors is 1058 in total.

How Arweave (AR) Crypto Price is Responding to AO?

AR price is at a crucial support, and it looks clear that the price could bounce higher and break the resistance at $50. Once the price crosses the $50 mark, then the price could go higher, as the gates would open towards higher levels.

At press time, AR was at $27.50 with an intraday loss of -1.48%, taking support at $23. The price approaches to cut 200-day and 50-day EMAs dynamic resistances from below. Meanwhile, in MACD, a bullish cross is anticipated. The RSI took a U-turn towards overbought from the oversold territory, which flashed at 36.15 and has taken support on 14-SMA.

Therefore, if the price manages to surge, near-time resistance would be $35.0 and $45.0, respectively. however, if the price fails to surge and plunges by breaking $23.0 support, then near support would be at $12.0.

Summary

In June, the Arweave ecosystem announced the migration of their AR.IO network to @ao The Computer, with block height at 1449000. The founder, @samecwilliams, revealed that AO had gathered $205 Million pre-bridged and ranked as the 28th largest DeFi economy.AR price stood at $27.50, indicating potential resistance at $35.0 and $45.0, with support at $23.0 and $12.0.

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Adarsh Singh
Adarsh Singh
Adarsh ​​Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
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