The Graph (GRT) has seen its price movement in June follow the trend of other altcoins, experiencing a downtrend. Despite this, the demand for artificial intelligence (AI) tokens like GRT has remained strong. The adoption rate of The Graph among new investors has remained between 28% and 30% for almost three months, indicating a high level of interest in the asset. However, the participation of whales, who hold over 52% of the circulating supply of GRT, has declined since March, impacting the price of the asset. Their daily transaction volume has decreased, and their lack of participation could hinder overall growth.
In order for GRT price to recover, whales need to increase their participation in the network. The current price of GRT is around $0.220, with attempts to break through resistance levels failing and the altcoin testing support. On-chain metrics suggest there is potential for recovery, with the possibility of GRT surpassing $0.250 and reclaiming $0.266 as a support level. However, if GRT forms a lower low below $0.201, the altcoin could be at risk of a correction, potentially dropping to $0.151.
Despite the challenges faced by GRT in terms of price movement, there is room for growth ahead if whales increase their participation and the altcoin is able to reclaim key support levels. Investors continue to show interest in GRT, with potential for the asset to recover and reach higher price targets. It is important for whales to play a more active role in the network in order to support the growth and price stability of GRT in the future. With the right conditions and investor sentiment, GRT could see a positive trend in the near future, potentially surpassing its previous highs.
Overall, The Graph (GRT) has faced price challenges in June, similar to other altcoins in the market. Despite this, the demand for AI tokens remains strong, with new investors continuing to join the network. The participation of whales, who hold a majority of GRT’s supply, has declined, impacting the price of the asset. However, on-chain metrics suggest potential for recovery, with targets for GRT to surpass key resistance levels. For GRT to grow and stabilize in price, it is crucial for whales to increase their participation and support the network’s growth. With the right conditions and investor interest, GRT could see positive price movement in the future, potentially surpassing its previous highs.
