The Graph’s GRT cryptocurrency is arguably one of the poorest performing top cryptocurrencies by market cap.
Investors that scooped up some GRT since it reached its current bottom range in June are still waiting for a price pump. There were a few bullish attempts within the 3-month period. Unfortunately for the bulls, none of those attempts were enough for a strong breakout, thus, relegating GRT to its bottom range.
Fortunately, the developers behind the projects have maintained healthy development activity. This activity increased significantly towards the end of September.Some of this development activity may have been focused on increasing the number of subgraphs. The Graph’s latestrevealed that there are now more than 500 subgraphs on the network. The increase was necessary to make indexing easier for the network to provide indexing services within the WEB3 landscape.
It registered its highest spike at the start of October, thus, confirming an increase in trading activity.GRT did garner some upside by just over 4% in the last two days despite the velocity spike. This outcome suggested that most investors, especially whales are still on the sidelines waiting for the right time.