The Graph (GRT) Joins AI Token Surge With 19% Rise: Details

By U_Today
3 months ago
Cover image via U.Today

GRT, the native crypto asset of the decentralized indexing protocol, The Graph, traded higher on Friday while the broader crypto market saw slight gains.

While the price of Bitcoin remains above $37,000, crypto AI tokens saw a significant surge in prices in early Friday trading.

Similarly, The Graph price was demonstrating gains by joining the AI crypto rally. GRT gained 8.27% in the last 24 hours to $0.152, reaching intraday highs of $0.154. Notably, the GRT price has increased by 20% in the last seven days.

Crypto AI tokens Fetch AI (FET) and SingularityNET (AGIX) rose following their listing on the OKX crypto exchange. As a result of the news, the price of increased by up to 12% earlier today.

Without a doubt, the price of AI tokens has risen in anticipation of the approval of a spot Bitcoin exchange-traded fund (ETF).

The move by OpenAI to fire and rehire Sam Altman piqued the interest of investors and traders alike, fueling the recent surge in AI tokens.

With the release of ChatGPT, Altman is credited with propelling OpenAI to its $80 billion value, and the recent turn of events stunned not only the AI sector but also the cryptocurrency community.

According to Kaiko data, AI-linked tokens surged past $2 billion in weekly trade volume for the first time since March. The boost in trading interest appears to be the result of various AI tokens embarking on developments and upgrades that are appealing to investors.

The Graph unveiled a new roadmap to add new features at the beginning of November, in one of the project's biggest updates since a $50 million investment round in 2022. According to the roadmap, The Graph intends to include AI-assisted querying with large language models. 

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