The Web3 protocol The Graph’s native token GRT rose the most among the top 100 cryptoassets by market capitalization today, after price bounced off a key technical support level and legendary football player Ronaldinho became the official global ambassador for an associated non-fungible token (NFT) platform.
As of Tuesday at 15:10 UTC, GRT was up 17% over the past 24 hours, but down 6% over the past 7 days and down 20% over the past month. The token, which is currently ranked as the 50th most valuable cryptoassets by market capitalization, stood at USD 0.475 at the time of writing.
The strong gains today positioned GRT as the day’s best performer among the top 100 coins by market capitalization, ahead of gala (GALA) and kadena (KDA), which came in second and third with gains of just over 14% each.
The latest rally for the GRT token came as the price bounced off a key technical support level at around USD 0.4, with the price moving as high as USD 0.48 before retracing earlier today.
The USD 0.4 level has been a key support level through much of late January and early February, offering some hope for token holders after the price has been in a consistent downtrend since mid-November last year.
Price of GRT since November:
Meanwhile, the gains today also came after the legendary football player Ronaldinho on Monday was announced as the “global ambassador” of New World Inc., a wholly owned subsidiary of The Graph.
As an ambassador for New World, Ronaldinho will join in creating “exclusive events and NFT experiences” in connection with the launch of New World’s augmented reality (AR) NFT platform, an announcement from the company said.