The post Will the Uptrend Continue in the GRT coin? appeared on BitcoinEthereumNews.com.

The Graph is outperforming other cryptocurrencies in the market, including those in its vicinity, as it continues to post positive price movements. While the reason behind this surge is unknown, investors are not bothered by it as they continue to make profits. The Graph’s price was increasing in a steep uptrend due to an announcement that was happening at the start of this November. This announcement was expected to mark the beginning of a new era for the protocol, which is fueling the rally.  A Fictitious Announcement and the Rise of GRT Large wallet holders, who were not aware of the contents of the announcement, were already selling their holdings. The addresses that hold between 10 million to 100 million GRT tokens have been selling their tokens over the past couple of weeks. They have dumped nearly 180 million GRT worth about $27 million within a day. It is still unclear what the GRT coin’s announcement on November 7th was about. It promised a “big announcement” and a “new era” for The Graph. However, it is still unclear as they did not provide any specifics or any major news. This group of investors has previously had a significant impact on the price of GRT. If the announcement turns out to be underwhelming, other investors may join in selling their GRT for profit and cause a further price drop.  It is highly likely, as the Market Value to Realized Value (MVRV) ratio currently sits at 69%. This ratio measures the average profit/loss of investors who purchased an asset in the past month. When this ratio reaches beyond 100%, GRT has undergone a major uptrend in the past, making this area a dangerous and overvalued zone. Technical Analysis and Prediction of the GRT Coin Price  During February 2021, the GRT coin price…

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Filed under: News - @ December 12, 2023 11:22 pm