Ethereum turned out to be the best blockchain technology the world has ever seen. On the other hand, have you ever imagined how huge a blockchain would be? Considering the massiveness, most blockchain applications fell back down the lane as they couldn’t process Query fulfilment and chain recognition. Resolving these flaws many indexing software landed their feet. What do they fulfil?
Consider an example of the web. Let us assume WWW to be a blockchain. For instance, Google, a search engine, indexes the information on the entire web and delivers relevant data when a query is made. It makes a search journey straightforward, quick and easier. Similarly, The Indexing protocols act and fetch data from blocks into the user application. Above all, were these protocols decentralized?
The Graph network docked itself as the first decentralized indexing protocol. Embarked Only a couple of years ago, the network has already released its first digital currency, the Graph coin soon after the launch. The official website states that they’re building DApps that are reliable, safe and interoperable! With its native crypto on the mark, what will be the possible GRT price prediction?
Building DApp back then required developers to stop themselves towards Ethereum blockchain and gather all required data! Surpassing a flaw in the system, Graph decided to probe and act as a transparent and secured link between blockchains and user applications.
Graph coin, an Ethereum token that is in use for administering resources within the network. The node operators, called the Indexers, will receive an income in the form of these tokens depending on the work they lend out. Along with curators, indexers also earn some rewards, a segment from query fees.
Being the central utility and governance token of the network, What’s so special about Graph crypto? Earlier this year, the coin received huge traction and hit a new ATH with lightning speed and surged 50%. On the flip side, it was unable to jump the resistance levels, the GRT coin price spun behind in time! With the hype towards DeFi, will it slam to $10? For the latest updates, buzz and Graph Price prediction, just browse further!
|Market cap||$ 2,501,766,829.0000|
|Circulating Supply||$ 0.0000|
|Trading Volume||$ 0.0000|
|All time high||$ 2.8400 February 12, 2021|
|All time low||$ 0.1033 December 17, 2020|
What is the Graph (GRT) token?
The Graph (GRT) is a decentralized protocol for querying and indexing the data from blockchains. GRT indexes data from eminent networks like Ethereum, Filecoin and many more. As this year commenced, the network announced possible integrations with other blockchain networks like Bitcoin and Polkadot.
The network became a dream-come-true event for the CEO of The Graph, Yaniv Tal. Working with his team, Pohlman and Brandom Ramirez and many others.
He envisioned developing an indexing protocol to bridge the gap between blockchain data and the user end. As they got close to it, they realized the absence of decentralized software in existence and shifted their vision towards the latter.
The Mainnet went live in December last year, after a three year long Beta test period. No sooner did the network launch, it received more than a billion queries in just a month! Tal added that the purpose was to create applications that do not need servers. Also, he strongly believes in making Web3 accessible to everybody!
The Graph coin is an ERC-20 token powered by Decentralized Finance (DeFi). The token can be used to create smart contracts on the blockchain. Powering the network, the graph crypto, serves as an exchange medium. It is also in use for rewarding the network’s community. The maximum supply of the coin is capped at 10,000,000,000.
User nodes in the network can stake the tokens they hold to earn profit margins. Moreover, a stake but not an indexer can delegate a part of their Graph coin to exist indexers. As a result, they can gain a fraction of the node’s reward as well!
To buy or sell graph coins, you can look out for exchanges that have listed the token. Currently, the token is tradable at popular exchanges like Binance, Kraken, Gate.io, and many others. Post the launch, many users requested Coinbase to list GRT. Later, on December 18, last year, the token was listed on Coinbase.com and was all set to buy, sell, convert, or receive GRT for all users except those in New York.
Fundamental Analysis :
The Graph is an indexing protocol and global API for organizing blockchain data making it easily accessible with GraphQL. The network acts as the middle layer between various blockchains and decentralized apps. Also, it makes the work easy for developers to create dApps by organizing smart contract data on the Ethereum blockchain called subgraphs.
What are subgraphs? The network contains subgraphs, which contain a manifesto. That is, a subgraph will contain every data about the transactions on the blockchain. In simple words, they are the open API anyone can build on the network! Consider an example where a DApp adds data in the form of smart contracts to the Ethereum blockchain. An end-user poses a query that is to be extracted from the blockchain. As a result of Subgraphs, that bridge between the user and the block datum, indexing happens through a Graph node.
A node will scan the entire data, filter, and fetch all the data posed as a query by the end-user from the Subgraphs. Lastly, the results are displayed on the user’s application! The entire process would be done securely, transparently, and Decentralized. Ethereum is turning out to be the most powerful blockchain domain. As a result, the Graph network is yielding a substantial growth rate.
The ecosystem of this network is quite complex yet not difficult to comprehend. The Graph node, also called the Indexer plays the pivotal role of indexing the data. The end users are called the Consumers and can fetch any query from the indexers. As an exchange, they pay the indexers. The Graph is not complete without its Delegators, Curators, Arbitrators, and Fishermen.
A curator identifies valuable subgraphs whereas, delegators are stakers delegating their GRT tokens and receiving a part of their rewards. The Fishermen verify the queries and, Arbitrators identify malicious indexers!
The Graph coin staking is a crucial part of the network and involves users and nodes! Other than delegators who receive a part of the indexer’s rewards, users can amass a segment too! Just like delegators, they also stake their GRT tokens. Subsequently, they earn rewards from the nodes running the interface seamlessly!
Storing graph coin is now easy as it is agreeable with any ERC-20 wallet. Hardware wallets also come of great use for anyone who plans to hold these coins for longer periods. These wallets can keep your graph crypto safe and away from any threats.
The Network states that The World’s best projects are using The Graph in production today! Some of the famous networks are Uniswap, Synthetix, Aragon, and many more. The Graph also partnered with Chainlink for retorting DeFi queries later last year. The Graph announced that ‘This integration allows indexed data from Subgraphs to be potential Chainlink Oracle sources’.
In the future, the network aspires to update the platform for decentralization to happen at the go precisely! We can expect The Graph to assist Multi Blockchain scaling, Layer 1 of blockchains, and many more!
On the other hand, The Graph is still a developing project in the market. Secondly, the GRT coin price is entangled in a bearish trap and is still under $1 currently. Due to weakened buying, the Graph price may wipe down to a minimum of $0.529.
GRT Price Prediction 2022 :
The GRT price has not shown any bullish signs since the start of January as there were increased sell-offs. However, as RSI plummeted to historical bottoms, the asset is now bottomed to a five-month low of $0.5484. The bulls appear to be now looking for support between $0.45 to $0.5. If the asset manages to break out then it is expected to retest $1 in the short supercycle.
If the bulls rally and take the GRT coin price to higher ends, the second half might commence bullish as well. If that’s the case, then the coin would hit $2.512. In contrast, if this year closes at the minimum end, the succeeding year might resume bearishly. And so, it might start trading at $0.541.
Earlier in 2021, the network announced that they are looking forward to expanding the blockchain protocol to Bitcoin and many other cryptocurrencies. If this happens within the next year, its new integrations can draw new investors to induce GRT coin price to hike at $4.47. On the other hand, if the market crashes due to controversies related to Bitcoin and other currencies, their prices can dip significantly. So will GRT coin price! In such a case, the price can drop to $1.0580 by the end of 2022.
The Graph Price Prediction 2023:
The network has already built a faster, cost-efficient, and agile platform. If it further serves in the way to enhance the user experience of the project, then users might turn bullish for the asset. The price may hit a maximum of $3.5.
5 Years GRT Price Prediction :
By the next five years, GRT might be considered the currency to build a new decentralized generation. If the community focuses on investing in certain other projects and enhancing the blockchain infrastructure, then the GRT coin price can smash a new ATH at $7.414.
On the flip side, The Graph price seemed to be slightly volatile after the market crash. In the long run, if the coin continues with skyrocketing volatility levels, then the price may flip down to $4.707. Moreover, if the altcoin manages to reverse the downside pressure it might move at linear ranges of $3.912.
GRT Token Market Prediction
According to Walletinvestor’s algorithm-based forecast, the Graph price could be as high as $0.8020, and in case of a bearish trap would flip to $0.000001 by 2022. In the long-term, The GRT price is expected to soar to a maximum of $0.0291 and in the case of average buy and sell pressures $0.0194. On the contrary, the price would flip down to $0.00971 by the end of 2025.
Gov. capital has revised their prediction for the GRT price, they expect tokens to hit a maximum of $0.05681. On the contrary, they believe, trend reversals in the market would plummet the price to $0.0419. And with average buy and sell pressures it would end up trading at $0.0494 by the end of 2022.
Digitalcoinprice revised its price prediction on GRT. According to them the price will reach $0.75 by 2022 and rally further to cross $0.9114 by the end of 2024. By the end of 2025, the price may hit $1.19.
Know Our GRT Price Prediction:
As the network addresses an extensive real-time problem, promising to resolve it, the Graph price might boom on this note.
According to Coinopedia’s formulated GRT price prediction, if the community explores new blockchain integrations it may punch new highs at $1.6 by the year-end. On the other hand, being new to crypto space, if the coin remains volatile, then the Graph price may spindle down to $0.96.
|Year||Potential High||Potential Low|
GRT made its existence in the crypto space on 18 December 2020 with a cost of $0.17 according to Coinmarketcap. Effectively, the token surged to $0.68 within a few days of entering the market. Shockingly, the price dropped to $0.35 on 26 December and further jumped to $0.45 within a day. As the bears were ruling the market, the price further sank to a support level of $0.36 in December-end.
The token entered the year 2021 on a bearish note with a price of $0.35 during early January. Later, the token started to recover and marked its ATH at $2.88 on 12 February 2021. On 19th May, when the market crashed, the GRT coin price dipped from $1.23 to $0.75. Subsequently, the Graph coin tried recouping from the fall. Yet, its fad is below $1.
Earlier in February, the interface announced the commencement of a Software development company- Edge & Node, aiding blockchain protocol development. Followed by which the GRT price has recorded an ATH of $2.88 on February 12th, 2021. However, the altcoin has managed to keep up the price momentum around $2. Due to the Chinese market crash in May, the price heavily plunged back to $0.77 by late July. From there, the price has consolidated between $0.6 to $0.8 till the end of Q3.
The altcoin has kickstarted with a massive surge since the start of the quarter. Initially, the GRT surpassed the $1 mark within a few days after the start of the quarter. However, as the altcoin lost its ground around $1, bears haunted the rally up to $0.65 by the end of 2021.
Yes, GRT is an ERC-20 token working on the Ethereum blockchain.
No, GRT cannot be mined as it is a non-mineable token.
GRT can be traded on popular exchanges like Binance, Coinbase Pro, Kraken, KuCoin, Huobi Global, and many more.
Yes, GRT can hit $10 in the next five years.
Yes, if it launches the planned projects as per the plan then it would clinch $2.5 in 2022.