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.”

Querying and indexing data on the blockchain has become quite a problem for dApps and projects alike, as developers usually encounter bandwidth and performance issues. Unlike traditional databases, say MySQL, the blockchain has no query function/programming language. Also, its distributed nature, limited APIs, and data entanglement further complicate the possibility of data indexing. For example, blockchain can quickly secure patients’ health records, but retrieval is another matter. Challenges are no longer new to networks like trading platforms, decentralized applications, and virtually all blockchain-based projects.

Here’s where the Graph – a decentralized and indexing protocol – comes to the rescue. It was founded in 2018 by Jannis Pohlmann, Brandon Ramirez, and Yaniv Tal. This project aims to solve blockchain indexing and querying problems by leveraging open APIs or subgraphs. These open APIs can be utilized by developers to query, index, and retrieve from decentralized applications. 

This guide provides pertinent information about the network, the Graph price today, its historical performance, and 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.

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 the end 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.

The Graph offers developers cost-efficient, secure and intuitive APIs. Also, DApps can add data to the Ethereum network using smart contracts. The APIs provided by this network are used by some of the fastest-growing DeFi platforms in the cryptosphere; Synthetix, Aragon, AAVE, DAOstack, Balancer, and Uniswap leverage this innovation to enhance data responsiveness.

The Graph (GRT) Token

GRT is an Ethereum-based token that serves as the central governance and utility token of the network. 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 price of the Graph 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

As already established, 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

As per the data from CoinMarketCap, the current price of GRT is $0.6731, witnessing a recent fall of 7.75%. Its estimated market cap is about $3.169 billion while its circulating supply is 4.72 B GRT.

Despite the decline in prices of assets caused by the pandemic, crypto volumes have continued to increase, and the Graph (GRT) is one of such cryptocurrencies. Attempting to delve into a GRT technical analysis requires an in-depth review of its performance and historical data.

The Graph token (GRT) began trading on the digital currency market on the 17th of December 2020, and in its first few days, it attained a price of $0.78. Its total token supply is 10 billion. At the start of January 2021, it dipped below the $0.3 mark and hit a 30-day low of $0.26. Throughout these periods, the effect of GRT on the DeFi space remained noticeable, and the market price soon began trending upwards with other assets in the crypto sphere. On the 12th of February, 2021, GRT price rose to an all-time high of $2.88, a price surge attributed to the growing public awareness and adoption of the Graph project, coupled with its support for popular blockchains. 

After its price surge in February, The Graph’s price took to a downward trend, but with some pumps in March and April. In April 2021, GRT’s mainnet was launched, which propped the token’s price from about $1.25 to over $1.55. In early May 2021, GRT’s price fell below $1 with a wild swing as with other currencies in the sphere. 

The Graph’s price slowly retraced the $1 mark in August and September 2021 but has faced a reversal on these attempts. According to CoinMarketCap, the current price of GRT is trading around $0.6 – $0.7, with a market cap of over $3 billion and a circulating token supply of about 47%.

The Graph price prediction 2021 – 2028

Since the beginning of 2021, GRT has gone through fluctuating movements. These fluctuations are not limited only to the coin but have extended their sphere of influence to other digital assets. The ensuing changes have resulted in forms of fluctuations, consolidations, and corrections.  

At the time of writing, the ranking of GRT is 51^st, lowering in the global competition, while its trading volume for the 24 hours is $78,800,199 which has depreciated 41.34% on 11 December 2021, as per the stats taken from CoinMarketCap. 

The above-given chart tells of the journey of GRT in the past year and how it has gone through fluctuations. February and March 2021 showed the greatest development in the value of GRT while later it began to depreciate, which tells the tale of its steady journey.

The fluctuations in its chart during the last months tell of the investor trust which has varied adding to its value as the result of investments. These investments have also led to changes in their price, growing as the investments grew. If the positive growth continued, it might soon be hitting new highs in no time. 

GRT price prediction from TradingBeasts

TradingBeasts forecasts a positive change since the beginning of January 2022. Once this growth sets in, it will reach the maximum price of $1.4177435 in December 2022. This graph predicts that if the growth continues, it will bring positive returns to the investors. The profits that it is expected to bring will be more than 72.99% as seen in the graph. 

Wallet Investor

If we have a look at the price chart for The Graph, we see that the Wallet Investor shows a negative trend. This trend clearly shows that the trajectory is moving downward instead of being in the upward direction. The change in trend from positive to negative is seen both in the case of long and short-term trends. 

LongForecast

The trending from LongForecast shows a negative change in the price of GRT. December 2021 is expected to bring a close to GRT valuing at $0.43 which will fall to $0.36 in January 2022. December of the same year will bring a change of -57.9% and it will close at $0.40. The opening months of 2023 show improvement but the December of the same year will show a fall amounting to $.039 bringing back its progress to the same place.

The years 2024 and 2025 show the same trend where it is expected to show fluctuations in prices. As per this chart, January 2026 will bring its price to $.056 which is better in comparison to the fall that it might witness in the previous years. Though it will fluctuate, the stats show that it is not showing positive growth. 

GRT price forecast from DigitalCoinPrice

The forecast by DigitalCoinPrice is encouraging and shows improvement in its price starting from January 2022. This graph shows that the GRT prices will soar higher in 2022 and the upcoming years. The GRT prices are expected to reach $1.13 in December 2022 as per the predictions. If this rise takes place, it will be a record 72.12% rise in its value.  

The prediction for 2028 shows that this rise will amount to 315.18% and its price will be $2.73. These predictions are discussed briefly as follows. 

The Graph price prediction 2022

Graph price for 2022 is encouraging for the investors because of the growing price and thus increased profits. This graph can be used to show the investors that it has tremendous chances of growth and will result in an improvement from the current price. The GRT price prediction for 2022 is encouraging as it performs relatively better in comparison to other coins.

Graph price for 2022 shows a positive trend for the investors because of the growing price and thus increased profits. This graph can be used to show the investors that it has tremendous chances of growth and will result in an improvement from the current price. The GRT price prediction for 2022 is encouraging as it performs relatively better in comparison to other coins.

GRT price forecast 2023

Due to the increase in the utilization of the crypto and blockchain industry, the support level for graph coins will also increase. This change will take its price to the highs of $1.63 in September 2023. Though it might not last for long and then a decline of 95.98% in December will bring back the graph coin to $1.29.

If the Graph announced some new project or innovation, there are chances that its course might change and it bags significant bags. The GRT ecosystem will continue its journey ahead keeping the GRT coin steady, not seeing any tremendous changes. It depends upon the demand of this coin that it might see a bullish or bearish signal. 

The Graph price prediction 2024

The Graph is expected to reach $1.95 in July which will be the highest in the mentioned year. It will move between the rise and fall ultimately closing the year at $1.72. The increase that it is expected to record in the mentioned year is that of 161.18%. 

It will try to cross the barrier by resisting the previous levels but its growth will remain comparatively slow.  

GRT price forecast 2025

The year 2025 is expected to bring the graph coin its highest of $2.27 in July. This soar in the price will take it to the highs that are better in comparison to the previous years. This year would have witnessed new technological advancements adding to the gains for GRT. 

The Graph price prediction beyond 2025

The year 2025 and beyond that will keep the graph coin in a steady momentum. The Graph cryptocurrency will grow slow in comparison to the ongoing developments in other coins. But it also needs to be kept in mind that its resistance level will also be significant, showing strong resistance to any negative changes. 

It will start with $2.21 in the year 2025, closing with $1.66 in December. January 2026 will take it back to $2.18 and it will reach $2.29 in the first half of 2025. The December of the same year will take it to $2.53 which will be a significant gain in the mentioned year. 

The closing month of 2026 is expected to take it to $2.53 which is much better in comparison to January 2026 when it might be at the $2.18 level. 

The years 2027 and 2028 are still far away but the prediction shows that GRT price won’t see any significant change. It will begin in 2027 at $2.53 and close with the same value.  There are chances that it might reach $3.21 in January 2028 but will come back to $2.73 in December.  

Conclusion

As blockchain-based applications continue to increase, the more information the network needs to process and store, escalating the inadequacies facing the blockchain in terms of data querying. The Graph project has found a solution to this challenge, and end-users and developers alike can now leverage a decentralized app to obtain the desired results from blockchain indexing and querying.

Since the inception of the Graph project and GRT token, the adoption of the solution it profers has continued to drive the price of GRT. According to the above GRT price forecast, the price of GRT will rise over the next few years, with initial price drops in a few cases. While investing in GRT is an option, you should seek financial advice to determine whether or not GRT will be worthwhile for you, as well as how much to put into it.

Generally, whether the future price movements of any cryptocurrency will be positive or negative is a subject of debate. Many factors will influence how much the cryptocurrency ecosystem grows in the future; new announcements, the crypto environment as a whole, and legal opinions – all of these apply to the Graph (GRT). 

As a trader, you’ll need some knowledge of the fundamental and technical aspects of the cryptocurrency market to accurately forecast price movements such as maximum value or minimum value based on the resistance level, past price history, trading volume, and average trading price.

FAQs

Is GRT a good investment?

Dapps like The Graph are in their infancy, and there is enormous upside potential. Its application is in high demand, and it’s being embraced by more DeFi projects. With the surge in DeFi ecosystems, the price of GRT is expected to rise, which can be seen in the Graph price actions from previous months. GRT is widely regarded as one of the year’s fastest-growing cryptocurrencies. According to multiple sources, the GRT is expected to appreciate more than 200% in the coming years.

Additionally, given the Graph’s recent achievements, we can say that GRT is a potentially good investment. However, we would like to remind you that the crypto sphere is subject to volatility, as seen with Binance coin, Ethereum price, Bitcoin price, and other assets. Hence, this is by no means a piece of investment advice. It would be best if you did due diligence before splashing out the cash on any cryptocurrency. So, if you’re up for some volatile swings, you can go for the GRT crypto.

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 shown support for the Graph project. Thus, more traders will be able to take part in and benefit from GRT trading.

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) is proferring solutions to real-life data querying problems on the blockchain and has continued to gain massive traction in the DeFi space while also engaging new partnerships and upgrading its offerings. Also, the Graph issues reward to participants on the network using its utility – GRT. 

So, is GRT legit or a scam?

Like Ethereum and other legit blockchain-based networks, the Graph is genuine, and its native token, GRT, is a fair coin. You can visit the official website of the Graph for more information.

Will GRT coin attain $1 soon?

GRT coin is one of the most actively traded cryptocurrencies, and it has maintained its upward trend for some time. If trading sentiments favor GRT, it may break through its previous resistance level and reach as high as $1. Of course, if the bulls tend this cryptocurrency, this is a very likely scenario, even in the short term. Again, this is not investment advice; always do your research.

Can GRT be mined?

GRT cannot be mined, and the system leverages the Proof-of-Stake consensus algorithm.