The Graph’s Network Expansion Ignites GRT Price Surge
The Graph token (GRT) has recently entered an aggressive recovery, escalating from $0.149 to $0.217, marking a substantial 45% increase. This rally, mirroring the broader market’s growth, is partly fueled by the network’s Q4 2023 expansion.
A tweet from the Graph’s official account on the X platform (previously known as Twitter) highlighted a 65% surge in query volume and advancements in Layer 2 transactions. The network’s reinforced infrastructure, underscored by over 1,500 subgraphs and the roll-out of a new Indexer, has likely reinforced investor optimism. The debut of the New Era Roadmap, along with the implementation of a Free Query Plan, has further strengthened this sentiment.
The Graph’s valuation rose by 15% in the past day alone, hinting at a potential bullish departure from the ‘cup and handle’ pattern’s neckline resistance. A successful push past this threshold could indicate a significant trend reversal and create fresh entry points for investors. Should this breakout persist, it’s projected that GRT’s price could climb to $0.375. DYOR
