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GRT is without doubt one of the finest performers amongst the highest 100 cryptocurrencies by market cap as we speak.
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The coin rallied after The Graph Community launched on Arbitrum.
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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 as we speak.
The rally comes after The Graph group introduced on Tuesday that The Graph Community can now be accessed by way of Arbitrum.
The Graph is scaling on L2. Beginning as we speak, you may entry The Graph Community on @arbitrum! 🧑🚀
Working the protocol on Arbitrum One means decrease gasoline charges, sooner transactions & simpler participation in The Graph Community 🌐
Questioning get began & what’s subsequent? 🌱 pic.twitter.com/MM1ZucQ0Es
— The Graph (@graphprotocol) February 14, 2023
In line with the The Graph group, working the protocol on Arbitrum One means decrease gasoline charges, sooner transactions and simpler participation in The Graph Community.
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 larger over the following few hours.
The broader cryptocurrency market has additionally recovered from its earlier droop. The full 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 observe
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 might rally even larger over the following few hours or days.
The MACD line crossed into the constructive zone just a few hours in the past, indicating a robust bullish momentum for GRT. the 14-day relative energy 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 might rally towards the primary main resistance stage at $0.18875 earlier than the top of the day.
Nonetheless, GRT would want the assist of the broader crypto market to cross the $0.20 resistance stage for the second time this month.
The place to purchase The Graph now
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