About The Graph (GRT/USD)
The Graph is infrastructure rather than a destination, which makes it easy to overlook and hard to replace. Blockchains are good at recording transactions in order and bad at answering questions about them. A chain can tell you what happened in block 14,000,000; it cannot readily tell you every trade a particular wallet has made, sorted by date. Answering that from raw chain data means reading every block and assembling the result, which is far too slow to do while somebody waits for a page to load.
The Graph indexes blockchain data so it can be queried quickly. Developers define a subgraph β a specification of which events to watch and how to organise them β and the network produces an API that applications can query in GraphQL. This is unglamorous work that most decentralised applications depend on, whether or not their users have heard of it.
The network has distinct roles, each backed by stake. Indexers run the nodes that do the work and are paid for queries. Curators signal which subgraphs are worth indexing. Delegators back indexers without running infrastructure themselves. GRT is the token staked and paid in throughout, and stake can be slashed for bad service, which is what makes the arrangement more than a list of volunteers.
What Moves The Graph?
Query volume
The network is paid per query. Sustained demand from applications is the most direct measure of use, and it follows activity across the chains being indexed rather than any single one.
Indexer and delegator economics
Rewards, fees and slashing conditions determine whether running an indexer is worthwhile, and how much GRT is locked as stake rather than circulating.
Competition from centralised indexing
Teams can run their own indexing infrastructure or use a hosted provider. The Graph’s share depends on whether decentralised indexing is worth its overhead to developers.
Broad crypto direction
As a small-capitalisation infrastructure token, it tends to move with the wider market and often by more. The correlations shown on this page are measured from our own daily closes rather than assumed.
Trading The Graph (GRT/USD)
The Graph trades continuously, and the price shown here comes from our own market feed. The chart, the 52-week range and the performance figures are measured from our own daily closes, and anything the history cannot support is withheld rather than estimated. Nothing on this page is a recommendation or a forecast β see our methodology for how each figure is produced.