GRT is Sinking Despite Migrating to Arbitrum
Graph prices are going down rapidly despite migrating to Arbitrum, a popular Ethereum layer-2 protocol. The coin has lost 17% of its value during the last 10 days. Prices are now targeting $0.050-0.060 after a recent breakthrough of the support at $0.100. Lower transactions cost, high transactions processing, and increased scalability are no match for the overall pessimism in the crypto market. The Graph is very sensitive to overall situation in the market, so the coin may retest the resistance at $0.100, but is likely to resume it decline to $0.050-0.060 afterwards. The alternative upside scenario could emerge only if the sentiment would somehow reverse to the positive, which is unlikely in the moment.
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