- The Graph (GRT) has been observed gaining a good percentage in a very short matter of time
- Several major exchanges around the world have helped the token to surge
- The Graph protocol can be very useful for DApp developers
- The newly launched token seems to achieve the level of $1 soon
Recently it is observed that The Graph (GRT) token has surged by more than 500% in just a period of four days. Last week on Thursday, the mainnet of The Graph (GRT) token was launched. Since then, several exchanges are adding the new cryptocurrency to their lists of offerings. GRT is an indexing protocol for querying data for networks, which helps to power both DeFi as well as the Web3 ecosystem. However, yesterday the token was trading at the level of $0.723423.
Exchanges helped GRT token to surge
Last week on Thursday, the GRT token’s mainnet was launched, and trading started the next day. According to the data from the CoinMarketCap, it is found that the newly launched token was started to trade at the level of $0.118913. Since the launch, several major exchanges like Coinbase, KuCoin, OKEx, Kraken, and Binance started to list the token platforms to allow trading. Getting such wide exposure, the price of the GRT token exploded, rising by more than 200% in just 48 hours.
How can The Graph protocol help?
The Graph is an indexing protocol and a global API. The new protocol can help to organize the data available on the blockchain and makes it easy to access by everyone with its GraphQL. Indeed, these services mainly can help the developers a lot, as they can use Graph Explorer to search, find, and publish all the data available on the blockchain to create a decentralized app (DApp).
Can The Graph token reach the level of $1?
Observing the recent price movement of the GRT token seems to be in the right direction. The current momentum of the new token can soon achieve $1, maybe by this week or maybe in some hours. The vital point to note is the project is among the good projects with high volume and a total supply of more than 1 billion GRT. However, if the GRT holders get satisfied by some small growth, then the token’s bullish rally can be hampered. Indeed, as the token has been listed on several major exchanges, it seems like a bigger pump can be soon observed. Notably, the newly launched token has surged in a very small matter of time, so the chances of achieving $1 and then greater highs can be expected.
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