The post The Graph Rises Among Top Crypto Gainers as New AI Coin Raises $400k appeared on BitcoinEthereumNews.com.

The Graph (GRT) is having a bullish moment, rising over 8% in the last 24 hours to become one of the market’s top-performing cryptocurrencies. This comes as the token benefits from growing interest in reliable and transparent indexing services. Meanwhile, a promising new AI project called Scotty the AI (SCOTTY) has just hit the $400,000 milestone in its presale, as the development team looks towards a full launch in the coming months. GRT Price Soars as Trading Volumes & Investor Buzz Ramp Up The Graph’s strong 24-hour performance comes during a positive spell for the cryptocurrency. Over the last day, GRT has risen over 8% to $0.195 – its highest value since January 5. This rapid increase propels the token to fifth place among the top gainers on CoinMarketCap. In addition to the sharp price spike, The Graph has seen spot trading volumes surge 79% to $119 million. This shows strong interest and activity around GRT from retail (and possibly institutional) traders. Looking at the broader picture, GRT now stands just 15% below its yearly high of $0.225, reached on January 2. Given the current momentum and heightened trading activity, some analysts speculate The Graph may retest this high if market conditions remain as they are. Technical analyst Clifton Fx on Twitter stated that the weekly breakout is “done” – setting a price target of $0.507 for GRT. Key Drivers of The Graph’s Crypto Market Takeover in 2024 For those unaware, The Graph is a decentralized protocol that allows developers to efficiently index and query blockchain data using GraphQL – similar to how search engines index and retrieve internet data. The native GRT token powers various functions within this ecosystem yet has also been used as a way for investors to speculate on The Graph’s potential. Investors have several reasons…

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Filed under: News - @ February 17, 2024 12:14 am