GRT Price Rockets – 200% Growth Since Start of 2021!
• The Graph (GRT) is a platform for indexing data stored on blockchains that are open source and decentralized.
• GRT has increased in value by more than 9% since yesterday, recouping all losses from the previous days and once again trading at $0.18.
• It is an exciting project in the blockchain and cryptocurrency world, and the price of The Graph may reflect this intrigue.
The Graph (GRT): An Overview
The Graph (GRT) is a platform for indexing data stored on blockchains that are open source and decentralized. The goal of the network is to facilitate querying on Ethereum and to make it possible for developers to build several APIs known as subgraphs that cater to a variety of questions. The Graph is now capable of indexing data from Ethereum, IPFS, and POA, with plans to support more networks in development. To finance development of the network, The Graph raised money from strategic venture capitalists, community members, and influential people in the blockchain industry. GRT will operate as an ERC-20 token on the Ethereum blockchain to facilitate distribution of network resources.
GRT has increased in value by more than 9% since yesterday, recouping all losses from the previous days and once again trading at $0.18 with a market valuation of over $1.5 billion dominating the artificial intelligence and big data subsector of the cryptocurrency market – with its price rising by almost 200% since start of year 2021. Its session high was recorded at $0.23 on February 8; also its highest price within last nine months period.
Earnings from the network are distributed to Curators, Active Indexers, & Delegators based upon quantum work contribution & quantity staked GRT tokens respectively; query costs for subgraphs signalled by curator are split with curator while indexers rewarded through incentives & rewards system set up by The Graph protocol itself .
Some investors who have contributed towards this effort include Coinbase Ventures, Framework Capital DCG Tally Capital CoinFund ParaFi Capital Multicoin DTC SPC & Reciprocal Ventures etc..
Potential Impact On Price
The Graph Network provides unique utility making it an exciting project in blockchain & cryptocurrency world which could be reflecting in its prices appreciation , thus suggesting further potential growth going forward .