The Graph (GRT) has made it into the top 10 purchased tokens of the 2000 biggest Ethereum (ETH) whales in the past 24 hours, eth wallet tracker WhaleStats reported.
— WhaleStats – BabyWhale ($BBW) (@WhaleStats) May 9, 2022
Despite the crypto market bloodbath and bearish news everywhere, GRT was able to see a positive today, seeing an increase in the purchase of the token among ETH holders. Additionally, the token also has positions in the tracker’s top trading volume, top sold tokens, and top holdings among the top 100 ETH wallets.
This sudden surge in GRT purchases may be attributed to the movements of the project, namely its upcoming hackathon and partnership with prominent platforms. In addition to this, investors may also be simply enamored with the platform’s services.
Related Crypto News
GRT is a Web3 protocol for indexing and querying blockchain data with GraphQL. Its main purpose is to ensure that smart contracts that rely on The Graph protocol are successfully executed.
This aside, GRT will be launching its three-day hackathon “Graph hack,” which will feature developers and creatives to build dapps “of the future.” Additionally, the event is sponsored by Harmony, a prominent blockchain platform. Harmony’s vouching of the event may be a testament to the technology, influencing investors.
On the other hand, GRT continues to maintain its position as one of the top 50 cryptos on CoinGecko. It has a huge market cap amounting to almost $2 billion with a 24-hour trading volume of $150 million. At the time of writing, GRT trades a decent price of $.27 per crypto. This price position of the crypto is proof that GRT is supported by investors globally.
In other news, reports stated that prominent cryptocurrency exchange Coinbase has sent letters to its Russian users informing them of their possible ban from the platform starting May 31. However, the exchange has given these customers the chance to provide documents that prove that they are not subject to any EU sanctions. Otherwise, their assets will remain frozen in their exchange wallet.