- The Graph token (GRT) is on ultra bullish mode.
- The fund-raise is to offer undercollateralized credit to Web 3 businesses.
The Graph token (GRT) is on ultra bullish mode, increasing by over 12.68% in the last 24 hours.
According to CoinMarketCap, GRT is trading at $0.932404 with a 24-hour trading volume of $480,198,054 at press time. The token has a circulating supply of 4,715,735,200 GRT coins and a maximum supply of 10,057,044,431 GRT coins.
Further, it is a decentralized open-source protocol deliberately for blockchain-related services in the crypto industry. GRT is the native token of the Graph ecosystem.
In addition, the price surge comes amid the recent Bitcoin rally that also sent other coins (altcoins) up. Graph saw its price soared from $0.677 last week to almost $1 dollar today. This means that the crypto surged by over 36% in 7 days.
In terms of tech, The Graph is an indexing protocol for querying data for networks like IPFS and Ethereum. Besides, it powers various apps in both Decentralized Finance (DeFi) and the broader Web3 ecosystem. Aside from this, it allows anyone to build and publish open APIs, called subgraphs that apps can query using GraphQL to recover blockchain data.
Moreover, The Graph token (GRT) is one of the cryptos that has shaken the crypto world in the past months. It has partnered with the largest crypto exchanges. Notably, Coinbase, Kucoin, OKEx, Binance, and Kraken to mention a few.