The Grass Crypto Price Has Rebounded in the Past Few Weeks as Investors Remain Optimistic About Its Future and Staking Rewards

The Grass crypto price has rebounded in the past few weeks as investors remain optimistic about its future and staking rewards. The token was trading at $2.20

The price of Grass crypto has rebounded sharply in the past few weeks as investors remain optimistic about its future and staking rewards. The token was trading at $2.20 on Thursday, up by about 140% from its lowest level this year.

The Grass crypto price surges

The token had surged for three main reasons. First, network data shows that the amount of data being scraped continues to rise. As reported earlier, Grass is a technology platform that collects data from node operators from over 190 countries. These users just install the application on their computers, and then the network scrapes the idle resources.

Later, Grass sells the data to companies building artificial intelligence models, an industry that continues to grow. According to the latest statistics, the daily scraped data rose to a record high of 1,762 terabytes earlier this month. This means that it has continued to grow.

Secondly, the Grass token price has shot up as the staking yield has soared. Data shows that the total Grass staked has risen to 35.69 million, worth over $78 million. These holders are earning an APY of 33.61%, much higher than popular cryptocurrencies like Ethereum and Solana.

Third, the Grass token has also managed to keep its value because of the ongoing demand for AI solutions and the hope that the crypto market will bounce back soon.

Grass crypto price technical analysis

The eight-hour chart shows that the Grass crypto price has surged by 145% from its lowest level on record. It has moved from a low of $0.9134 to the current $2.55, making it one of the best-performing coins in crypto.

The Grass price action

The token has already moved above the key resistance point at $1.9878, the highest swing on April 2. It is also slowly forming a bullish flag pattern, which is made up of a vertical trend and consolidation phase.

Also, Grass has moved above the 38.2% Fibonacci Retracement level. As the chart shows, the path of the least resistance for Grass coin is bullish, with the next point to watch being its all-time high of $3.88, which is about 72% above the current level. This view will be confirmed when the coin rises above the resistance at $2.80.