GRASS Price Forecast: Is GRASS Prepared for a Robust Resurgence Following Its 25% Increase?
Grass is experiencing an unusual surge of vitality following one of the most challenging downturns of the year. The Solana-powered DePIN and AI data crypto token surged roughly +25% over the last 24 hours and hovered around $0.34 on November 19.
This increase follows a significant decline where GRASS lost nearly half its value in just a month, impacted by an extensive market downturn and a substantial token unlock.
During this period, the broader crypto market has wiped out more than $1 trillion in just six weeks, leaving many traders pondering whether this resurgence is sustainable or merely a temporary break in the downward trend. For the moment, GRASS is managing to maintain its profits.
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Coingecko data indicates the coin is trading around $0.34, with a 24-hour trading volume of approximately $53M, while its trading market capitalization is near $80M.
The pressing concern is whether the venture can stabilize following an extended period of strain.
The rebound is drawing interest as the overall crypto market remains under considerable stress. In the last six weeks, crypto asset has lost an estimated $1–$1.2 trillion in valuation. Traders attribute this decline to decreased risk tolerance, concerns about a tech and AI bubble, and skepticism regarding potential US rate cuts.
Nonetheless, Grass supporters believe that the fundamental narrative of the project is more robust than what the charts reflect. Grass characterizes itself as “a network of millions of individuals earning rewards for utilizing unused internet bandwidth.”
Participants can install a browser addon or application, allowing verified entities to direct traffic through their idle connections in trading protocol for points that can be redeemed for crypto token rewards.
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GRASS Price Forecast: Are Early Signs of a Trend Reversal Emerging After GRASS’s Long Decline?
A recent OKX research report describes GRASS as a Solana-based DePIN crypto token founded on this concept.
The document states that the platform converts excess bandwidth into a mechanism for gathering public web data utilized in AI training, providing Grass with a decentralized function within a realm commonly governed by major web-crawling systems.
The GRASS/USDT 4-hour graph illustrates the crypto token attempting to regain stability after a prolonged decline.
The decline from its peak earlier this year, surpassing $2.50, has dragged the price down towards the $0.30 range, where it has finally managed to find some base level.
This keeps the overall trend on the downtrend side. However, the price has slightly exceeded both of these averages, indicating that buyers are at least attempting to change the momentum. The trading volume has risen to 3.99M, suggesting a resurgence of interest at these levels.
GRASS now needs to maintain its position above $0.35 and demonstrate consistent strength if it aims to establish a clearer recovery. Should it fail to stay above this threshold, the chart indicates potential for another dip back to $0.30.
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The article GRASS Price Prediction: Is GRASS Positioned for a Stronger Comeback Following Its 25% Surge? originally appeared on 99Bitcoins.
