What are the latest crypto news and price trends of the week for ORDI, The Graph (GRT) and Cronos (CRO) coins? Let’s see below all the details and some insights on them.
ORDI: record growth and positive outlook in an expanding NFT market
Recently, the price of crypto ORDI has risen significantly, especially in the last week, reaching its highest level since May this year.
Specifically, the coin peaked at $28.37, marking an impressive 845% increase from its lowest point of the year. Its total market capitalization exceeded $524 million, solidifying it as one of the most dynamic tokens in the world.
Furthermore, we can see that ORDI’s meteoric growth has been driven by the growing demand for Bitcoin Ordinals.
In fact, the total volume of these NFTs, according to CryptoSlam, has exceeded $20 million in the last 24 hours, even surpassing Ethereum’s volume by more than $11 million.
This marks a remarkable change from a few months ago, when Ethereum‘s NFTs were considered difficult to surpass.
Further data indicate that total open interest in futures related to the ORDI token has reached a record high, touching $124 million in the past 24 hours. We also emphasize that most of this interest has been generated by the OKX, Binance, and Bybit platforms.
In addition, chart analysis shows that the price of the ORDI token has recently broken through the 50-day and 25-day moving averages. At the same time, the relative strength index (RSI) has reached overbought levels, approaching significant resistance at $29.50, the highest point in May.
Finally, we see that the short-term outlook for ORDI is favorable, with a focus on the key $30 level. This rally looks set to persist until other cryptocurrencies follow the trend.
The Graph (GRT): new vision and challenges in the Web3 ecosystem
In a recent development, The Graph (GRT), a project at the forefront of the Web3 ecosystem, unveiled an ambitious roadmap that will have a significant impact on the crypto and blockchain communities.
Specifically, the new roadmap outlines a revolutionary vision for the future of The Graph, identifying key initiatives that will shape the project in the coming years.
However, despite its bold vision, investors did not greet this news with enthusiasm, as The Graph’s price went down 4.67% to around $0.1315.
In any case, the proposed roadmap focuses on five key objectives, each designed to improve and expand the protocol’s capabilities.
First, The Graph aims to expand its data services beyond subgraphs, creating a data-rich marketplace on the network to cater to a variety of use cases and practitioners, including data scientists.
This will involve integrating multiple data sources, introducing new query languages and supporting Large Language Models (LLM), the technology that powers OpenAI’s ChatGPT.
Second, the protocol aims to empower developers through DevEx and advanced tools, introducing simplified billing, clear pricing models, a new free query plan, and reduced gas rates.
Finally, The Graph plans to make improvements to make the protocol more resilient, flexible, and easy to use, including updates to delegation to improve overall robustness.
Focus on Cronos (CRO) pricing: how it compares to cryptos ORDI and The Graph
Cronos crypto (CRO) has recently been on a robust and steady bullish trajectory, showing considerable momentum in recent weeks. Over the past few days, in fact, its steady rise has reached a solid high, a level not touched in months.
With a significant 7% increase and a remarkable 57% rally over the past few weeks, according to Coingecko‘s report, Cronos is not only capturing attention, but also establishing itself as a major player in the current market dynamics.
In particular, the CRO token has broken through the downward trend line connected to the highest points recorded since February.
This positive momentum underscores Cronos’ current strength and bullish momentum, indicating a significant shift in its market dynamics.
The perception that the asset may be overvalued is suggested by the significantly elevated Relative Strength Index (RSI) at 97.45, placing it firmly in the overbought zone.
This could indicate a potential retracement or consolidation in the near future. However, in the short term, the cryptocurrency shows a solid bullish trend, as indicated by the 50-day exponential moving average positioned at $0.0630.
Looking at the key resistance point at $0.10, buyers are likely to maintain the coin’s upward trend. The ADX indicator is steadily rising, and the stochastic oscillator has reached the overbought point.