GRT Price Analysis February 2023

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GRT is a token of the platform The Graph. Its current price is around $0.1695 at the time of writing, with a low of $0.05196, and it has a market cap of 1 billion dollars.

What is The Graph (GRT)?

GRT is the coin of The Graph platform, which is around $0.1695 at the time of writing, with a low of $0.05196. It reached a high of $0.5488, and its current ranking is #41, according to CoinMarketCap, with a market cap of 1 billion dollars. 

The Graph is a decentralized protocol for indexing and querying data from blockchain networks, including Ethereum, IPFS, and others. The protocol allows developers to efficiently access and retrieve specific data from the blockchain, such as transaction histories, balances, and other metadata, without running a full node.

The Graph’s native cryptocurrency, called GRT, is used to incentivize participants in the ecosystem, including indexers, curators, and developers who use the protocol to build applications. As a result, the Graph has gained popularity as a crucial infrastructure tool for the rapidly growing decentralized finance (DeFi) space, enabling easier access to data on a wide range of decentralized applications.

GRT Coin Market Analysis 

GRT has a total supply of 10,587,528,665 coins worth around $0.1695 with a market volume of 128 million dollars, whereas the market capitalization is 1 billion dollars at writing. GRT has been steadily climbing for the past week and has increased by 4%. The Graph looks like it’s gaining momentum, making this a great opportunity for those looking to invest in it.

GRT Price Prediction

On the 1D timeframe, the price action of $GRT/USDT formed a Head & Shoulder chart pattern. Currently, the price is moving inside the right shoulder. After the breakdown of the neckline, it can go downward. On the other hand, if it breaks above the invalidation level. Then, the pattern will be invalid. So we have to wait for further price action.

For any time, on-demand analysis on $GRT or any other coin can join our Telegram channel.

Grt Price Analysis
GRT Price Analysis

Closing Thoughts

The Crypto market is known for its volatile nature. According to the above analysis, the coins we discussed might prove to be profitable if other market conditions prevail favorably. We suggest you engage in adequate research before investing in any digital assets.

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