The Graph Sees Surge in Whale Activity and Social Volume
If you are keeping an eye on The Graph (GRT), you may have noticed a significant increase in whale activity recently. The cryptocurrency has seen several large transactions worth at least $100,000, leading to a nine-month high in overall whale activity. On November 6th, GRT recorded 149 transactions worth $100,000 and above for the first time in months. Additionally, on-chain data confirms that market participants created up to 620 new addresses.
Despite a 5.9% decline over the last 24 hours, The Graph is up 24% in the past week. The recent rally began on November 3rd, following a massive drop to the $0.1032 territory. The uptrend has triggered growing interest in the purchase, resulting in heightened whale activity.
Hot Take: The Graph’s Rally Sparks Whale Activity
The recent surge in whale activity for The Graph (GRT) comes as no surprise given the cryptocurrency’s impressive rally. With a nine-month high in overall whale activity and a significant increase in social volume, it’s clear that GRT has caught the attention of market participants. Despite a slight decline in the last 24 hours, the cryptocurrency is up 24% in the past week, indicating strong bullish sentiment. As GRT continues to climb following a recent drop, it will be interesting to see how whale activity and social volume further contribute to its upward momentum.
