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Ethereum and GRT Price Analysis
Ethereum and GRT Price Analysis
Trading

Ethereum and GRT Price Analysis

By R.L. Bryer - 3 Jun 2021

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Ethereum price analysis

Ethereum has continued to put more distance between it and Bitcoin’s performance in 2021. ETH is +6.7% at the time of writing for the last 24 hours while BTC is +4.96%.

ETHER is +193% against BTC over the last 12 months.

The 24 hour range of ETH is $2,566-$2,795. The weekly LOW is $2,294 and weekly HIGH is $2,882.

ETH’s 24 hour trading volume is $37.8 billion at the time of writing.

The fees on the Ethereum network could be contributing to the solid price bounce ETHER’s produced since bottoming on the recent dip below $2k.

The launch of Arbitrum last week could certainly be pointed to as a contributor to the reduction in fees on the Ethereum network but it also appears that the overall transaction volume has been on a steady decline since May 12th’s all-time high in network transactions.

The total market capitalization of ETH is $318.8 billion and ETH dominance accounts for 18.1% of all money in the cryptocurrency market.

Ether had a daily candle close on Wednesday of $37,581.

GRT price Analysis

The Graph [$.779] is +1.8% for the last 24 hours and bulls believe it is primed for a move to the upside after months of chopping sideways.

The 24 hour range is $.738-$.812. The weekly LOW is $.627 and HIGH is $.843.

GRT is -56.2% for the last 90 days, -49.8% for the last 30 days and -4.2% for the last 7 days. Bears have unquestionably been in control of the ball over the last 3 months.

The Graph is one of the companies much like ChainLink that are arguably preparing themselves to be important players in the infrastructure of Web 3.0.

The companies focusing on distributed data will likely be some of the most integral players in the blockchain space over this decade and onward.

With Web 3.0 just getting off of the ground the desire for open APIs is only going to climb. With Graph Protocol anyone can build and publish open APIs Graph Protocol’s website calls ‘subgraphs’ that can be used to simplify data and make it easily accessible.

GRT is the 93rd ranked cryptocurrency by market capitalization [$937.8 million] with a 24 hour trading volume of $107.6 million at the time of writing.

GRT closed Wednesday’s daily candle at $1.80. 

 

R.L. Bryer
R.L. Bryer

Since 2009, the onset of the bitcoin network, R.L. Bryer has been covering the space. He is the author of Blockchain: Project Renaissance Volume I and II. He's also been the guest of countless bitcoin and cryptocurrency related podcasts throughout the world. Every opportunity, he speaks on or writes about Austrian Economics and how bitcoin is the world's preeminent money.

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