Grove Token Rebranded Grove Coin
Grove Token yielded more than 34 million search results via Google, showing the keen interest in the project by traders and investors from all walks of the decentralized finance sector.
The project has marketed itself as a green crypto (an environmentally-friendly cryptocurrency) that wants to compensate stakeholders of the digital currency economy for years of abusing nature by creating what it calls a healthier and wealthier future for all.
To do this, Grove Token, which went by the ticker symbol of GVR, has rebranded to Grove Coin with a new symbol of GRV, hoping to capture a substantial portion of the crypto market.
Grove Token accomplished milestones
To become a full-fledged crypto project, the development team embarked on a Binance Smart Chain Evolution Proposal (BEP) – 20 launch. As a token standard on BNB Smart Chain, BEP 20 extends Ethereum Request for Comment (ERC) – 20 and provides a layout on how tokens can be spent, the kind of people who can spend them, and other rules around their utility.
It embarked on a contract audit to certify the project's authenticity to avoid falling into the same group as SafeMoon and other scam crypto projects.
No crypto company or entity can survive in a market where more than 20,000 coins fight for the same investments. As a result, the team embarked on a social media campaign to shed light on the possibilities of green crypto.
More importantly, partnerships were forged with CoinGecko and CoinMarketCap – two of the most visited platforms for information about crypto projects before the close of March 2022.
Donations were welcome during the second quarter. There were renewable energy partnerships, hydroponic farming, green energy contribution, an ERC-20 launch, and a minor exchange listing.
While the third quarter opened to a falling crypto market, Grove continued to accomplish milestones by continuing with the formation of partnerships, creating solar panels for residential areas, and teasing potential investors about its Play-to-Earn (P2E) capabilities – an industry forecasted to be worth around $3 billion by 2028.
Major advertising events were also outlined, but the breaking news was the listing of GVR, now GRV, on major cryptocurrency exchanges. Thanks to the advancements made, the cryptocurrency can be found and traded on decentralized exchanges (DEXs) such as PancakeSwap, ShibaSwap, and Uniswap. The token can also be found on centralized exchanges such as MEXC, Digifinex, Bitget, BKEX, Gate.io, Hotbit, BitMart, Lbank, and XT.com.
Grove Token has entered crypto's mainstream
In the last quarter of 2022, which saw the collapse of FTX, the project's wallet, GroveKeeper, in addition to staking services, yield farming, lending, bridging, and its decentralized exchange, GroveSwap, were also highlighted strongly.
The rebranding to Grove Coin came in the first quarter of 2023 after the successful launch of Grove Blockchain, which led to the introduction of Grove credit cards and an online store for residential aeroponic and solar farming.
GRV appeared on CoinMarketCap on 10 January, 2023, and opened at $1.01, reached a day high of $1.02, tested a day low of $0.9442, and eventually closed the day at $0.9758. The trading volume for the day was $136,401.
GRV reached an all-time high (ATH) price of $1.64 on 15 January, 2023, and succumbed to an all-time low of $0.6343 on 12 March.
Due to selling by holders aiming to lock in gains and cut losses, GRV has shed 32% of its opening day price this year.
Grove Token price prediction
Despite its relatively lower trading volumes when compared to other projects, analysts at Price Prediction.net foresee GRV ending 2023 with an average price of $0.96, a minimum price of $0.93, and a maximum price of $1.09.
The analysts added that the token could close 2025 with a regular price of $2.01, the lowest possible price of $1.93, and the highest possible price of $2.37.
Author: Raphael Minter
Raphael Minter/ Albert Zuhnden (preferred pen name) is a crypto finance writer, data miner, and fundamental analyst. Raphael has written hundreds of articles about centralized and decentralized financial instruments such as precious metals, commodities, stocks, and cryptocurrencies. He broke into digital finance in 2016 and believes digital assets and blockchain technology is the future of finance.