GRT is without doubt one of the finest performers amongst the highest 100 cryptocurrencies by market cap at present.
The coin rallied after The Graph Community 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 Community, is without doubt one of the finest performers amongst the highest 100 cryptocurrencies by market cap at present.
The rally comes after The Graph group introduced on Tuesday that The Graph Community can now be accessed through Arbitrum.
The Graph is scaling on L2. Beginning at present, you may entry The Graph Community on @arbitrum! 🧑🚀
Working the protocol on Arbitrum One means decrease fuel charges, quicker transactions & simpler participation in The Graph Community 🌐
Questioning the way to get began & what’s subsequent? 🌱 pic.twitter.com/MM1ZucQ0Es
— The Graph (@graphprotocol) February 14, 2023
In response to the The Graph group, working the protocol on Arbitrum One means decrease fuel charges, quicker transactions and simpler participation in The Graph Community.
This newest cryptocurrency information has led GRT, the native coin of The Graph community, to rally by 16% within the final 24 hours. At press time, the worth 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 hunch. The entire 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 properly over the past 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 just a few hours in the past, indicating a powerful bullish momentum for GRT. the 14-day relative energy index of 63.77 additionally exhibits that GRT may very well 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 stage at $0.18875 earlier than the tip of the day.
Nevertheless, GRT would want the help of the broader crypto market to cross the $0.20 resistance stage for the second time this month.
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