GRT is likely one of the finest performers amongst the highest 100 cryptocurrencies by market cap in the present day.
The coin rallied after The Graph Network launched on Arbitrum.
The broader crypto market has added $200 billion to its market cap within the final 24 hours.
GRT soars after The Graph’s launch on Arbitrum
GRT, the native token of The Graph Network, is likely one of the finest performers amongst the highest 100 cryptocurrencies by market cap in the present day.
The rally comes after The Graph workforce introduced on Tuesday that The Graph Network can now be accessed by way of Arbitrum.
The Graph is scaling on L2. Starting in the present day, you may entry The Graph Network on @arbitrum! ????????
Operating the protocol on Arbitrum One means decrease fuel charges, quicker transactions & simpler participation in The Graph Network ????
Wondering the way to get began & what’s subsequent? ???? pic.twitter.com/MM1ZucQ0Es
— The Graph (@graphprotocol) February 14, 2023
According to the The Graph workforce, working the protocol on Arbitrum One means decrease fuel charges, quicker transactions and simpler participation in The Graph Network.
This latest cryptocurrency news has led GRT, the native coin of The Graph community, to rally by 16% within the final 24 hours. At press time, the price of The Graph stands at $0.1701 and will rally greater over the subsequent few hours.
The broader cryptocurrency market has additionally recovered from its earlier stoop. The whole cryptocurrency market cap now stands at $1.03 trillion, up by greater than 2% within the final 24 hours.
Bitcoin and Ether are buying and selling within the inexperienced zone as soon as once more after underperforming earlier this week.
Key ranges to look at
The GRT/USD 4-hour chart has turned bullish as GRT has been performing effectively during the last 24 hours. The technical indicators present that GRT may rally even greater over the subsequent few hours or days.
The MACD line crossed into the constructive zone a number of hours in the past, indicating a robust bullish momentum for GRT. the 14-day relative power index of 63.77 additionally exhibits that GRT could possibly be heading into the overbought area within the close to time period.
If the constructive momentum is maintained, GRT may rally towards the primary main resistance degree at $0.18875 earlier than the top of the day.
However, GRT would want the assist of the broader crypto market to cross the $0.20 resistance degree for the second time this month.
Where to purchase The Graph now
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