Have you ever heard of Uniswap, Aave, Compound, Balancer, USDC, Synthetix, Sushiswap, MakerDAO, Yearn, Curve, or any popular dApps? They all functionally rely upon The Graph, which is like a combination of decentralized versions of Google, banking, social media, other service providers, and other industries.
There will be thousands of blockchain networks indexed by The Graph, millions of dApps/subgraphs, and trillions of daily queries in the future. Imagine everyone using their phone to transact, refresh, and interact with media/applications requiring The Graph data. Currently, there are 10-15 layer one blockchain networks (Ethereum, Avalanche, Solana, Polygon, and others) and hundreds of popular dApps using The Graph.
Before The Graph (GRT) existed, developers who wanted to create decentralized apps needed to index all of Ethereum’s data manually, which could take multiple developers months-years minimum to complete. The Graph indexes the previously unorganized blockchain data and makes it organized and more accessible for developers to create applications.
Today’s The Graph price is $0.363841 with a 24-hour trading volume of $194,163,672. The Graph is down 4.07% in the last 24 hours. The current CoinMarketCap ranking is #57, with a live market cap of $1,715,776,557. It has a circulating supply of 4,715,735,200 GRT coins and a max. supply of 10,057,044,431 GRT coins.
This guide provides pertinent information about the network, the Graph price today, its historical performance, and its prospects. Also, it gives a detailed Graph technical analysis and predictions for informational purposes.
What is the Graph?
The Graph network is a decentralized data querying and indexing protocol that allows seamless data sharing across applications and the blockchain. It is the first blockchain-based querying and indexing platform in the crypto sphere. Since its inception in 2018, it has hit several billions of data queries. In April 2021 alone, the Graph has processed over 20 billion data queries and has continued to gain more traction. It utilizes an ERC-20 token – GRT.
The blockchain, a decentralized database, is no doubt one of the revolutionary technologies of the modern age. It offers innumerable advantages over traditional database systems and finds application in every facet of our everyday lives. Some networks fail to quickly process and retrieve data from various apps on the network. This phenomenon is generally referred to as the “Blockchain Indexing problem.”
Like search engines’ webpage indexing, the Graph indexes data from supported blockchain networks like ETH, Arbitrum, Celo, XDAI, FANTOM, Avalanche, IPFS, BSC, Polygon, and PoA networks. The indexed data is grouped into subgraphs called publicly available APIs or open APIs accessible to developers. As of 2020, over 2300 subgraphs have been rolled out for several network participants.
After the institution of the Graph mainnet, the project created a viable environment for the absolute decentralization of Apps and ease of access to data on the blockchain. With its introduction of open APIs, developers and other participants on the network can easily create subgraphs to query, index, and fetch information for various DApps. Furthermore, the network’s functionality depends on Graph Nodes that execute a thorough scan of the blockchain’s database.
Indexing ensures that data structures about their use by DApps are defined. For efficient operations, the Graph requires the support of Indexers, Delegators, and Curators, all of whom make indexing services available to end-users, stake GRT tokens to protect the Graph network, and receive GRT tokens in reward payments. The incentivization of the contribution by developers and other participants to the network ensures that they provide accurate data and improve APIs. Also, end-users who query subgraphs get to pay GRT tokens to contributors via a gateway.
Indexers (yes, humans) create subgraphs and maintain them with the most accurate and up-to-date information. They are incentivized to do so because they receive both GRT rewards for indexing and a cut of the GRT query fees earned by the subgraphs they are indexing. dApps have already openly expressed that The Graph makes it easier to keep the indexes updated and maintained. The dApp developers don’t have to waste their time/resources to maintain their indexes. They prefer using The Graph versus drudging through the data themselves and maintaining their indexes.
The Graph offers developers cost-efficient, secure and intuitive APIs. Also, DApps can add data to the Ethereum network using smart contracts. Some of the fastest-growing DeFi platforms use the APIs provided by this network in the cryptosphere; Synthetix, Aragon, AAVE, DAOstack, Balancer, and Uniswap leverage this innovation to enhance data responsiveness.
The Graph Overview
|Coin||Symbol||Price||Marketcap||Change||Last 24h||Supply||Volume (24h)|
|GRT||$ 0.149764||$ 1.04 B||7.53%||6.93 B||$ 70.12 M|
The Graph (GRT) price today
GRT is an Ethereum-based token that serves as the network’s central governance and utility token. It can be utilized for global value transfer. The holders of the tokens gain rights in the ecosystem, and rewards are issued in GRT.
The Graph price is established as GRT tokens are exchanged in the digital currency market. In addition, other specific factors that dictate the price of GRT are technical features, total supply, project roadmap, regulations, upgrades, circulating supply, mainstream use cases, investor sentiments, etc.
Use cases of the Graph (GRT) Network
The difficulty in querying data on the blockchain birthed the Graph (GRT) network, and its application is specific to this concern. The properties of the blockchain network, such as chain reorganizations, finality, and structured blocks, complicate the indexing process, making it onerous to extract accurate query outcomes from data blocks.
The Graph disentangles the process by utilizing a decentralized protocol known as subgraphs that facilitates the systematic indexing and querying of information stored on the blockchain. The Graph (GRT) creates a global API that development teams can use to streamline operations and reduce processing times. Applications built on The Graph efficiently function while maintaining their decentralization. The solution offered by this innovation has continued to gain massive traction in the crypto ecosystem, and more dApps use cases are beginning to surface.
Historical data and technical analysis
The Graph Technical Analysis
The Graph (GRT) token started on a bearish note at the beginning of 2022 as its prices descended. However, the dip continued, and its token has lost almost half of its value since the start of the year. On its 4-hour chart, GRT is below its 50 and 100-day MA. Its technical indicators point to the sell zone, informing investors to sell as the current value of GRT is on a bearish trend. A further dip in its price may see it attain a new support zone of $0.36.
Today, the live Graph price is $0.403603 with a 24-hour trading volume of $201,673,074. We update our GRT to USD price in real-time. The Graph is down 2.58% in the last 24 hours. The current CoinMarketCap ranking is #58, with a live market cap of $1,903,284,095 USD. It has a circulating supply of 4,715,735,200 GRT coins and a max. supply of 10,057,044,431 GRT coins.
Where to buy and sell the GRT?
GRT can be purchased on the following cryptocurrency exchanges: Binance, Kraken, Upbit, Huobi Global, Bitcoin.com, BitPanda, FTX, and Easy Crypto. Also, it is compatible with ERC-20 wallets, and Metamask is one of such free wallets available to users.
If, after buying GRT, you wish to HODL it for extended periods, cold storage or offline hardware wallets will come in handy. Hardware wallets ensure that your crypto holdings are not susceptible to online threats; the Ledger Nano X or Ledger Nano S wallets both support GRT.
The EU, the United Kingdom, and other countries have supported the Graph project. Thus, more traders will be able to take part in and benefit from GRT trading.
GRT Price Prediction 2022-2030
Wallet Investor gave a 5-year forecast on GRT, and they predict that the token is not a good investment. Also, the project that the token can be a bad high-risk one-year investment option. By the end of the year, the price of GRT is expected to be $0.4036, but your current investment may be devalued in the future. Again Wallet Investor also projected that investors would have a 98% loss on their investment in the next five years.
Price Prediction is bullish on GRT. They predict that GRT will end in 2022 with a minimum price of $0.56 and a maximum of $0.66. In the next five years (2027), GRT is expected to have a minimum price of $3.98 and a maximum of $4.70. They also predict that GRT will have a minimum price of $11.83 and a maximum price of $14.61 in 2030.
Trading Beast also projects that GRT will have a minimum price of $0.495 with a maximum of $0.728. They also forecasted that GRT would have a minimum price of $0.578 with a maximum price of $0.8495, thus representing a 71.29%. In four years, Trading Beast also projects that GRT will have a minimum price of $0.74 and the maximum price of $1.09.
|Year||Minimum Price||Average Price||Maximum Price|
The Graph Price Prediction 2022
In the first week of January 2022, The Graph reached 0.00 when it dropped below 0.00 for the first time since January 2021. According to the investors and market exports, The Graph is on its way to passing the $0.56 mark by the end of this year. Before $0.56, it may break its mark of $2.88 and reach. The Graph GRT is expected to break its all-time high of $2.88 and hold between $0.52 and $0.56 soon.
The Graph Price Prediction 2023
According to technical analysis, The Graph can break through the $0.64 barrier and hold the market by 2023. The lowest The Graph price will be between $0.53 to $0.64, and the most likely The Graph price will be steady at around $0.57 by the end of 2023.
The Graph Price Prediction 2024
By 2024, we predict that GRT will start the year at $0.48 and trade around $0.70.
The Graph Price Prediction 2025
There is a good chance that The Graph 2025 Price Prediction will double in price, but it is also possible that it may not reach its expected maximum $0.83 level. The Graph is predicted to reach an all-time high of $0.73 or $0.83 in 2025.
The Graph Price Prediction 2026
The Graph Price Prediction, or GRT, will experience tremendous growth in 2026 as it has the potential to achieve new highs in terms of price points and market cap. The Graph’s price is expected to surpass $0.74 in 2026. It has been predicted that The Graph will reach the maximum price of $0.74, and the minimum price is expected to be around $0.65 in the next five years from 2026.
The Graph Price Prediction 2027
We predict that the GRT coin will exceed a price level of $0.90 in 2027. Meanwhile, The Graph is expected to reach a minimum price of $0.76 this year. The maximum price may reach $1.07.
The Graph Price Prediction 2028
In 2028, we predict that the cost of The Graph will reach $1.26, and the price of GRT should reach $1.26 by the end of the year. In addition, GRT can reach up to $1.16 in price. However, 2024 to the 2028-time gap will bring significant years for The Graph growth.
The Graph Price Prediction 2029
In 2029, GRT is expected to cross the $1.62 average price level, according to The Graph forecast and technical analysis. By 2029, The Graph’s minimum price is expected to be $1.56. Additionally, GRT can reach a maximum price level of $1.72. At the end of 2029, The Graph will have an average price of $1.72.
The Graph Price Prediction 2030
The price of the GRT coin is estimated to reach $1.75 by 2030, at minimum. With an average trading price of $1.83 throughout 2030, The Graph’s value could come to $1.89 at its highest. The specialists expect the maximum price to be trading around $1.83.
The Graph Price Prediction by Industry Experts
The Graph has a bright future in 2022 and beyond. With ongoing developments happening within the GRT ecosystem and the overall market, we may see GRT attain new heights in the future.
Our price prediction for GRT for 2022 is $0.56. It may reach a new ATH if investors decide that GRT is a good investment in 2022, along with mainstream digital assets like Bitcoin and Ethereum.
FAQs about GRT
Will GRT Surpass its Current ATH?
GRT is a good investment in 2022. Most crypto investors could consider this token. However, GRT has a low possibility of surpassing its current ATH at about $2.84 by 2022.
Is GRT a good investment in 2022?
GRT is considered one of the top-rising cryptocurrencies this year. Also, along with the recorded achievements of GRT in the past few months, we can say that GRT is indeed a potentially good crypto to invest in this year.
What will be the Graph price by 2023?
The Graph (GRT) price will reach $0.64 by 2023.
What will be The Graph price by 2024?
The Graph (GRT) price is forecasted to reach $0.7 by 2024.
What will be The Graph price by 2025?
The Graph (GRT) price will reach $0.83 by 2025.
What will be the Graph price by 2026?
The Graph (GRT) price will reach $0.74 by 2026.
Is the Graph crypto coin legit or a scam?
With the rising level of memes, hit-and-run schemes, and projects in the cryptocurrency ecosystem, it has become essential to question the validity of a utility or token. The legitimacy of a cryptocurrency or project, in general, is tied to its road map, real-world use cases, demand & supply, and level of adoption.
The Graph (GRT) offers solutions to real-life data querying problems on the blockchain. It has continued to gain massive traction in the DeFi space while also engaging in new partnerships and upgrading its offerings. Also, the Graph issues reward to participants on the network using its utility – GRT.
Can GRT be mined?
GRT cannot be mined, and the system leverages the Proof-of-Stake consensus algorithm.