The Graph token GRT surged massively within a few hours of its launch taking the total market cap to $750 Million.
The Graph mainnet was launched just last week, and since then, the price of the GRT token has gone up by more than 425 percent.
GRT Token Soars Within Few Days of Trading
After several leading cryptocurrency exchanges announced the support for the token, the trading soared tremendously. Coinbase, Kraken, Binance, and OKEx have added GRT to the list of offerings. The Graph protocol launched the Mainnet showcasing a host of advanced features for the developers and traders.
As the decentralized finance space continues to grow, the Graph being an Ethereum based indexing protocol would gain more popularity amongst the developers and traders. The Graph protocol allows users to easily extract high-quality data from the public blockchain and use it in a decentralized fashion without relying on centralized sources.
The crypto experts consider Graph as the Google of Web3 as it is an advanced indexing protocol and provides global API for using blockchain data. Graph is used to query and work with the blockchain data. The blockchain and dApp developers can use the Graph platform to access public blockchain data and create a highly efficient decentralized application.
The growth of GRT token has been exponential, and the surge trends began to show within a few hours of mainnet launch. Within 24 hours, the price increased by around 100 percent from 0.179720 to 0.308367.
The users on the Graph Network access blockchain data. The node operators are required to stake their GRT tokens on the network.
The Graph mainnet was launched on December 18th, 2020, and since then, its market cap has increased to a gigantic figure. The GRT token price was recorded at $0.569 a day after its launch on December 19th, 2020. As the GRT token’s parabolic acceleration continues, it would not be a surprise if the token reaches the $1 mark soon.
As the major exchanges list Graph for trading, much more price action is expected. The crypto experts consider the GRT project a potential project that has massive growth as it showcases high trading volume and good supply.
The information discussed by The Coin Magazine is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Do your due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright The Coin Magazine All rights reserved.