The market capitalization of Graphite Protocol (GP) token surged to $1.2 billion following a 22.2% increase in its price over the last 24 hours.
Key Developments and Impact
As of July 2025, the GP token reached a peak market capitalization of $1.2 billion. The 22.2% price rise within a day indicates intense market activity. The planned token buybacks, amounting to over 2.81% of the total tokens in the last two months, aim to strengthen the protocol's position and enhance token scarcity, thereby increasing investor interest.
GP Token Volatility and Strategic Buybacks
Currently, GP is trading at $1.79, with trading volumes up 73.33% to $10,973,628.78 in the last 24 hours. Despite the recent surge, experts warn of high volatility and associated investment risks. 'We have repurchased 2.81% of GP tokens within the last two months and plan to continue this initiative,' stated the Graphite Protocol Team.
Market Reactions to Changes
Previously, the Graphite Protocol token peaked at $1.91 on July 6, 2025, highlighting the cyclical nature of its price behavior. According to CoinMarketCap data, the GP token experienced a dramatic 5,281.92% price increase over 90 days, underscoring its speculative nature. Insights from Coincu Research indicate that the recent buyback activity represents a strategic move to manage supply and potentially enhance token value.
The growth in GP token's market cap and strategic buyback actions underscore active investor interest, while potential risks associated with market volatility remain.
