2023-7-5 17:25 |
The crypto market has continued its bullish sentiment with Bitcoin holding steady over $31,000 in recent days. Institutional interest in the top cryptocurrency has not died down since BlackRock and other major asset managers filed for spot Bitcoin ETF applications.
Bitcoin’s strength is dragging the rest of the crypto market with it and numerous altcoins are displaying explosive price growth. Artificial intelligence (AI) coins in particular are seeing surging interests, with The Graph token ($GRT) leading the way.
The token has exploded 17% over the past week and is showing good indications for a bullish continuation.
The demand for AI-based crypto projects will only continue to grow and NVIDIA’s remarkable rally has reminded investors of the potential of AI coins. Newly launched projects such as the yPredict trading ecosystem are also turning heads.
The Graph ($GRT) Token Explodes With AI Projects High In DemandThe Graph has emerged as a big winner of the current crypto rally, with GRT surging 17% in the weekly time frame and currently trading at $0.129.
Due to its explosive price growth, GRT has amassed over $1.1 billion in total market capitalization, which is more than 25% of the entire market cap of AI & Big Data tokens.
Despite correcting 2.5% over the past 24 hours, the token’s technical analysis promises more buying sprees in the upcoming days. TradingView, a technical analysis firm, gives a “Buy” signal to $GRT in the daily time frame, which improves to a “Strong Buy” when considering the important moving average indicators.
The token is trading comfortably above its 200-day Exponential Moving Average, with the Hull Moving Average at $0.1291 in sight of the bulls. The Moving Average Convergence/Divergence (12, 26) has also turned green in the 24-hour time frame, reaffirming the bullish stance.
The Graph has become a key player in the Web3 infrastructure. It allows developers to build open APIs, called subgraphs, that help blockchains receive indexed data. The Graph can help dApps build faster, cut costs and maintain significantly higher uptime.
Over 40,000 projects are already up and running on The Graph since 2022 and it has served close to a trillion queries. The company powers applications on over 40 networks including Ethereum, Polygon, Arbitrum and Optimism.
Investors are bullish on The Graph due to its continued innovation and network upgrades. Recently, the Graph blockchain migrated its settlement layer from Ethereum to Arbitrum, which resulted in a strong surge. Sentiment analysis from Into The Block firm reveals that the online sentiment for the project is mostly positive.
However, the bulls will have to be careful about potential bearish activities from the whales – according to on-chain data firm LookOnChain, a whale deposited close to $770k worth of $GRT to Binance and sold another $100k on a decentralised exchange.
Two other whales deposited 6.8 million $GRT tokens to the KuCoin exchange, which led to a correction in the token price.
Nevertheless, GRT will receive strong support from Bitcoin’s institutional adoption. Yesterday, trillion-dollar asset management firm BlackRock refiled its application for a spot Bitcoin ETF, leading to an uptick in crypto prices. Improving inflation levels will also continue to help altcoins see a bullish continuation.
New Token yPredict Nears $3 Million in Presale, Could it be the Next Big AI Coin?Another AI crypto making waves is yPredict ($YPRED), which is continuing its impressive presale performance as it has already raised $2.75 million in just a couple of months.
The $YPRED token powers the revolutionary yPredict trading platform, which is making a name for itself as the next big AI-based crypto project.
The yPredict team is creating an all-in-one ecosystem that can help users navigate the volatility of the crypto market.
Its flagship product, the yPredict Marketplace, is helping retail traders connect with the top data scientists and ML developers. These AI/ML experts can publish predictive data models as subscriptions, which the traders can use to make informed real-time decisions.
Traders can also head to the yPredict Analytics platform to gain valuable market insights – it uses cutting-edge pattern recognition algorithms, sentiment analysis and transaction data analysis to give a competitive edge to users.
yPredict offers significantly more features than other crypto intelligence platforms such as Defy Trends and has thus received the backing of pro traders and VCs.
Apart from fueling this powerful ecosystem, the $YPRED token is attracting investors due to its lucrative tokenomics. All $YPRED holders will be eligible for free-of-cost lifetime access to the Predictions platform – it comprises accurate price predictions for thousands of crypto assets and securities.
Investors can also earn a whopping 45% quarterly staking reward, along with exciting discounts on various yPredict services.
80% of the entire YPRED token supply is available in the presale itself, offering small investors the opportunity to get in early and maximise their profits. The Polygon-based token is currently priced at $0.09 but will soon surge 33% to $0.12 at launch.
Visit yPredict Presale
The post Here’s Why The Graph Price Has Risen 17% – Could Fellow AI Crypto yPredict Also Pump? appeared first on BeInCrypto.
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