Indexing protocol The Graph (GRT) has been added to major exchanges after its mainnet launch last week. Its price has also increased by over 425% within the past few days, as investors and traders hustle to get hold of the token in its early launch phase.
The lists of exchanges include Binance, Kraken, OKEx, Kucoin, and Coinbase, and the news of the listing has been received well by the crypto community. The Graph Network was launched to help users when indexing and querying data.
GRT has gained more than 400% since its launch
24 hours after launch, the token rose massively from $0.179720 to $0.308368, which gives investors more than 100% returns within a day. The movement of the GRT token is in line with the present price movement of digital currencies, which have been in the bull position for weeks now.
With the current price of $0.711087, it may reach $1 within the next few hours if it maintains its present momentum.
Developers can utilize the Graph protocol to find and publish the public data required when building decentralized applications.
Earlier this year, COINBASE Ventures invested in Graph’s $5 million token sales. So, the listing of the token on Coinbase was seen as an earlier arrangement when Coinbase made its investment.
Over a billion market supply
Presently, GRT has more than 1 billion token supply, and the firm is planning to raise another funding round for further expansion.
Josh Rager and some other crypto analysts have advised that investors should be watching the GRT token as it could break away and have a long bullish run in the week to come.
Pay attention to $GRT
Defi + actual working product
Many don’t understand $GRT or the fact that Uniswap currently operates on The Graph
Already listed on the top exchange’s – it’s easy to see $GRT‘s potential as big defi player
?? on $GRT https://t.co/MnlOKJZF6p
— Josh Rager ?? (@Josh_Rager) December 19, 2020
With the token listed on several top exchanges, it will offer the token a broader user base and a wider market reach, which would increase both its price and demand. However, the booming price of the token could fall when the short-term traders start selling after a small period. Other analysts fear that once these short profit traders decide to take profits early, it may quickly change the bullish market to a bearish one.
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