The Grass (GRASS) crypto token price continued surging this week

Grass (GRASS) surged to a high of $2.4078, up nearly 70% from its monthly low, bringing its market capitalization to over $578 million.

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.

What Happened: Grass (CRYPTO: 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.

Also Read: How This Crypto Project Is Scraping Data From Wikipedia And The New York Times To Train AI

The Foundation explained that due to the recent surge in network performance, the average daily data scraped has soared to new highs.

"The network is performing exceptionally well, and we're seeing an influx of new members eager to contribute their bandwidth and earn Grass tokens. As a result, the average daily data scraped has shot up to new highs."

Meanwhile, CoinGlass data shows that 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 (CRYPTO: BIT) , followed by Binance (CRYPTO: BNB) .

This compares with a low of $43 million in late March.

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.