GRT surged 25.58% as The Graph prepared to migrate its query traffic from Subgraph Studio to The Graph Network, allowing decentralized indexers to process those queries and earn fees in GRT. Spot volume jumped 530.9% to $117.1 million, while derivatives trading volume rose 892.99% to $150.25 million and open interest climbed 61.59% to $29.74 million. CryptoQuant indicators, however, show that sellers still dominate the futures market and exchange reserves increased 11.45% to $49.7164 million, creating selling pressure. After reaching $0.036, GRT pulled back to around $0.0325, with the RSI retreating from 87.09 to 73.50. A retest of the demand zone between $0.027 and $0.028 could provide buyers a stronger base for another push toward $0.036, while losing $0.027 would expose the broader downside toward $0.01706.
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