The Graph ($GRT): Bulls Still At Play Behind AI Token, Data Suggests

The Graph AI Token News: The recent upsurge in artificial intelligence linked cryptocurrencies proved that the combination is bound to be trusted by traders. While it is beyond proven that “cryptocurrencies are here to stay,” the instant success of ChatGPT showed the power of AI technology. Unlike other emerging technologies, artificial intelligence can be scaled to reach immense capabilities in near no time, making it a scary proposition and one that is hard to neglect for traders. Although some cryptocurrencies banked on just the hype behind AI tokens, traders will eventually recognize genuine projects in web 3.0, as was seen over the years.

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Among the most talked about AI tokens is The Graph ($GRT), which is the largest cryptocurrency in the category as per current market capitalization.

Bullish Times Ahead For The Graph Crypto?

A look at the moving average metric for The Graph ($GRT) token suggests there is a clear uptrend for the asset in terms of sentiment. However, the AI token took some correction following the peak around ChatGPT and Google Bard debate. Hence, any further positive developments in the AI adoption could potentially mean another rally for all the AI tokens. In the case of GRT token, the moving average curves are still pointing towards upward movement, indicating there is room for more upside in near future.

$GRT, the native token of The Graph, was able to record a 200% growth from the start of the year. The AI-based cryptocurrency reached a high of €0.2 per token before correcting lower. The upward MA lines suggest bulls are still in play. pic.twitter.com/uSWrqGI07x

— Bitpanda Pro (@BitpandaPro) February 21, 2023

Compared to the GRT price at the beginning of January 2023, it gained more than 300% in value. As of writing, GRT price stands at $0.15986, down 4.64% in the last 24 hours, according to CoinGape price tracker.

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