In the last week, The Graph (GRT)’s crypto analytics token has seen an unprecedented 55% surge in value, becoming one of today’s hottest news stories.
Extracts Data from 26 Blockchains
The Graph has experienced tremendous growth and now boasts a market capitalization of $1 billion. Its complex infrastructure allows users to securely store on-chain data from over two dozen blockchains – including Ethereum, Moonbeam, and more! The crypto company derives income through inflationary indexing premiums and fees for queries paid by the end user.
The AI Buzz that Started with ChatGPT Helped The Graph Rise, Too
Recently, CoinMarketCap has highlighted the skyrocketing trend of AI and big data-backed crypto projects and tokens. Consequently, ChatGPT‘s success has sparked an investment surge that The Graph is taking full advantage of to extend its bullish streak as long as possible. As a result, GRT -the native token for The Graph-has skyrocketed 55% from just one week ago; news that comes with great excitement for everyone involved in this project! In fact, CoinMarketCap reports have now revealed how GRT’s capitalization has exceeded $1 billion!
The Graph‘s market cap has significantly increased, fueled by two main contributing factors. Initially, the token saw great success at the start of 2022 and in January 2023; however, it lost steam during the latter part of last year. The second of them is due to the success of ChatGPT, an AI-based technology similar to Google 3.0/Alexa that quickly answers questions and solves problems with its unparalleled information retrieval ability.
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