according to the website - By Coincu
On July 8, 2025, the market capitalization of the Graphite Protocol token (GP) exceeded $1.2 billion, reaching a peak of $1.11 billion, driven by a price increase of 22.2% over the last 24 hours.
Such changes highlight the ongoing volatility in the market, especially for the GP token, which has recently experienced significant price fluctuations, indicating high investor interest.
Key events, impact, and reactions
The GP token of the Graphite Protocol recently reached a peak market capitalization of $1.2 billion. The token's price increased by 22.2% over the day, reflecting intense market activity. Scheduled buybacks by the protocol have accumulated over 2.81% of the total token supply in the last two months. The goal of the Graphite Protocol buyback is to strengthen its market position, increase token scarcity, and attract investor interest. Observers noted sharp price fluctuations coinciding with increased trading activity in early July 2025. Market experts warn of potential volatility and investment risks. However, no official statements have been made by key opinion leaders.
"We have repurchased 2.81% of GP tokens in the last two months and plan to continue this initiative," said the Graphite Protocol team in their official buyback announcement.
Graphite Protocol (GP) is currently trading at $1.79, with trading volumes increasing by 73.33% to $10,973,628.78 over the last 24 hours, according to CoinMarketCap data as of July 8, 2025. The GP token recorded a sharp price spike of 5,281.92% over 90 days, highlighting its speculative nature.
Insights from the Coincu research team indicate that the recent buyback activity of Graphite underscores a strategic move to manage supply and potentially increase the token's value. While such actions may inspire short-term gains, they also require consideration of long-term sustainability in an unstable crypto environment.
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