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GRT is among the finest performers amongst the highest 100 cryptocurrencies by market cap right this moment.
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The coin rallied after The Graph Network 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 Network, is among the finest performers amongst the highest 100 cryptocurrencies by market cap right this moment.
The rally comes after The Graph staff introduced on Tuesday that The Graph Network can now be accessed through Arbitrum.
The Graph is scaling on L2. Starting right this moment, you possibly can entry The Graph Network on @arbitrum! 🧑🚀
Operating the protocol on Arbitrum One means decrease gasoline charges, quicker transactions & simpler participation in The Graph Network 🌐
Wondering tips on how to get began & what’s subsequent? 🌱 pic.twitter.com/MM1ZucQ0Es
— The Graph (@graphprotocol) February 14, 2023
According to the The Graph staff, working the protocol on Arbitrum One means decrease gasoline 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 larger over the subsequent few hours.
The broader cryptocurrency market has additionally recovered from its earlier stoop. The complete 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 during the last 24 hours. The technical indicators present that GRT may rally even larger over the subsequent few hours or days.
The MACD line crossed into the optimistic zone a couple of hours in the past, indicating a robust bullish momentum for GRT. the 14-day relative energy index of 63.77 additionally exhibits that GRT might be heading into the overbought area within the close to time period.
If the optimistic momentum is maintained, GRT may rally towards the primary main resistance degree at $0.18875 earlier than the tip of the day.
However, GRT would want the help of the broader crypto market to cross the $0.20 resistance degree for the second time this month.
Where to purchase The Graph now
eToro
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Public
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