The Graph (GRT) serves as a token empowering The Graph, a decentralized indexing protocol used by blockchains like Ethereum.
Similar to how search engines like Google index the Internet, Graph protocol indexes blockchain data, categorizing it into subgraphs on open application programming interfaces (API) that anyone can query through GraphQL, Graph’s programming language.
Subgraphs can then be organized into a global graph of all the public information. This data can be reshaped, structured, and shared across applications, allowing users to conduct a search using GRT tokens.
The Graph platform simplifies the search for blockchain data through straightforward queries
“Prior to The Graph, teams had to develop and operate proprietary indexing servers,” Graph states on its website. “This demanded substantial engineering and hardware resources and disrupted the crucial security properties required for decentralization.”
Currently, The Graph supports nine networks, including Ethereum, Polygon, CELO, and BSC.
Below we will provide a comprehensive analysis to help you determine whether The Graph (GRT) is a viable investment.
The Potential Pitfalls Of The Graph token (GRT)
Price instability in cryptocurrency markets
Broad trends can impact the GRT price in cryptocurrency markets. For example, broader crypto market sentiment or regulatory enforcement could ignite or dampen investor enthusiasm.
All coins experienced price fluctuations over a similar period. For instance, between May and August 2021, all cryptocurrencies were declining, followed by a brief bull run. Since September, the sentiment has shifted again, and all coins are experiencing a slight reversal.
Acceptance of The Graph protocol
The Graph is a relatively recent initiative, established in 2018. While some of the most extensive blockchain networks, such as Ethereum, already utilize The Graph protocol, there may be obstacles to adoption by other extensive networks.
2021 Price Trends Of The Graph GRT
GRT began 2021 with a substantial surge – the $0.35 price on 1 January soared to $2.24 on 13 February, marking a 586% increase. GRT reached an all-time high of $2.99 a day earlier due to the Edge & Node launch.
However, the peaks were short-lived. After sideways to downward movement that persisted until May, the token entered a bearish phase. Subsequently, GRT traded below $1.20.
The Advantages Of The Graph GRT
Market Cap
GRT’s market capitalization reached $1,937,552,985 on 4 February, according to the data from CoinMarketCap, making it the 54th largest cryptocurrency.
Functionality
The Graph’s indexing protocol powers nine blockchain networks, including Ethereum, and has become a crucial component for decentralized finance.
The Downsides Of The Graph
Price Volatility
Its current price is approximately one-quarter of the all-time high, and GRT may have a long journey ahead before recovery. There are numerous aspects to consider before deciding to invest in The Graph cryptocurrency.
New Token
GRT is a relatively fresh token that creates additional barriers to its adoption. Ethereum currently utilizes it, but it remains uncertain whether Bitcoin or other extensive networks will embrace the protocol in the future.
The Graph (GRT) Price Forecast By Professionals
The GRT price has had a significant journey throughout, which could be the primary reason for its popularity. Currently, the Graph price stands at $0.4047 with a market cap of $1,937,552,985 and a 24-hour trading volume of $59,226,766 with a circulating supply of 4.72B GRT.
Here are some experts providing their GRT price forecasts.
The Graph coin price prediction anticipates a positive price of GRT coin reaching around $0.80 by 2022 and may rise to $1.19 before next year. The projected GRT cost could rise by 1087% from the current price in 5 years, climbing up to $5.58 in 2027.
Price Prediction
If you are seeking virtual currencies with good returns, GRT can be a risky 1-year investment option based on our GRT price prediction for 2022. The Graph price today equals $0.566, but your current investment may devalue in the future as per The Graph forecast.
Wallet Investor Forecast
Based on our GRT price predictions, the price of the coin will continue to rise, and it is likely to surpass its all-time high price ever in the near future. It may reach $3.5 soon, and it might even achieve greater heights, but reaching $3.5 would indicate that GRT is a profitable investment in 2022.
The News Crypto
The Graph has been displaying an upward trend. According to our The Graph cryptocurrency price forecasts, the future price of the GRT token is estimated at $0.748817 in a year.
GOV Capital
Our long-term The Graph price prediction for 2022 is optimistic. If the upward trend persists, The Graph price might move alongside the bulls, surpassing its $0.86 resistance level and moving higher.
CoinQuora
In early December 2022, the GRT price may trade around $0.31. Maximum price $0.39, minimum price $0.31. The average for the month is $0.34. The GRT price prediction for 2022 at the end of December is $0.36, indicating a decrease of 45.5% for December.
Long Forecast
The Graph is still a developing project in the market. The GRT is currently in a bearish trap and is still below $1. Based on our GRT price prediction for 2022, the Graph price may fall to a minimum of $0.580.
Coinpedia
The Graph (GRT) price, based on its standing in August 2020, sounds highly promising due to its consistent performance. By the end of January 2022, the maximum price of the GRT token should easily reach around $2.42 to 3.52, implying a sound long-term investment.
Trading Beasts
Is The Graph Cryptocurrency A Sound Investment?
According to Tim Frost, the chief executive and founder of DeFi-focused fintech Yield App, The Graph token plays a valuable role in the DeFi ecosystem, making it a sensible investment.
However, there are also potential downsides to investing in GRT. It’s a relatively new token, and its level of acceptance within the blockchain industry remains uncertain.
