The Grass crypto token price continued surging this week and reached its highest level since March 6 this year as its scraped data jumped to a record high.
Grass (GRASS) surged to a high of $2.4078, up nearly 70% from its monthly low, bringing its market capitalization to over $578 million. Daily trading volume jumped 215% to $151 million.
According to the Grass Foundation, daily data scraped jumped to a record high of 1,762 terabytes, up from this week’s low of 200 terabytes. The previous daily record was 1.745 terabytes in March.
Grass utilizes unused internet bandwidth from user devices (or “nodes”) to scrape publicly available data from websites such as Wikipedia and The New York Times. This data is then used to train AI models, offering them access to real-time public information.
In return, the Grass Foundation rewards its 2 million members with GRASS tokens, creating a mutually beneficial ecosystem.
Meanwhile, CoinGlass data shows demand for the Grass crypto token has also surged in the futures market, hitting an all-time high of $152 million, driven primarily by activity on Bybit, followed by Binance.
Grass crypto price analysis
The four-hour chart shows that Grass climbed to $2.3875, its highest price since March 6. It broke above the key resistance level at $2.00, previously the high from April 2.
GRASS has also broken out of a green symmetrical triangle, confirming a bullish move. It’s now trading above the 50-period moving average, while the Relative Strength Index has entered overbought territory.
Therefore, the most likely scenario is where the Grass crypt coin retreats and retests the psychological point at $2, and then resumes the uptrend. More gains may see it jump to its all-time high of $3.85, up by 70% from the current level.
The bullish outlook for Grass Coin will be invalidated if it falls below the psychological level of $1.50, which aligns with the confluence of the two triangle trendlines.
