Despite the hype over a blockchain-based internet, the Graph has fallen more 30% in value over the past year
- Founders of The Graph
- What is The Graph (GRT)? Overview
- Recent performance of GRT coin
- The Graph coin price prediction: Expert opinion
- Final thoughts
A host of crypto companies have emerged, battling it out to become a prominent player within the blockchain-based internet of the future, also known as Web3.
The Graph, a start-up founded in spring 2018 as a protocol for indexing and querying blockchain data using open-source APIs, and
which defines itself (not so modestly) as the “Google of the blockchain world”, is one of these crypto companies.
Despite a decline in GRT coin price since post-launch highs in spring 2021, the success of the recent funding round, led by Tiger Management Global, certainly indicates there is significant interest in the crypto’s proposition.
But does the project have legs? What is the latest The Graph price prediction?
Before looking into GRT price predictions, let’s quickly do a recap.
Founders of The Graph
Jannis Pohlmann, after completing an MSc from the University of Lübeck, worked as a software developer in the UK and Germany. In April 2018, Pohlmann co-founded The Graph in the Bay area in San Francisco. He is currently the tech lead.
Yanniv Tal, based in San Francisco, is the project lead at Graph Protocol. Tal completed a Bachelor of Science in mathematics from Westminster College, and went on to study electrical engineering at University of California. After graduating, Tal worked as a software engineer for HP and MuleSoft. In February 2013, he founded TapSavvy, a start-up which brings mobile payments to restaurants. In 2016, Tal founded Workflo, a start-up that helps to build UIs faster.
Brandon Ramirez studied electrical engineering at University of California. He worked as a software engineer for a variety of companies including Workflo Inc and Functional Foundry.
The original founding team are all now involved in the launch of Edge & Node, a computer software company based in San Francisco.
What is The Graph (GRT)? Overview
The Graph acts as an indexing protocol for querying data for networks, such as Ethereum, IPFS and DAO. The project powers a variety of applications in the crypto space.
Users can build and publish open application programming interfaces (APIs), also called subgraphs. APIs, in their simplest terms, refers to a workflow process that is automated rather than manual. Subgraphs, a term coined by the Graph protocol, are open APIs. This means the data is open to other developers to use in their application.
According to the website, this open “data can be transformed, organized, and shared across applications for anyone to query with just a few keystrokes”.
Before The Graph, according to the website, “developers had to spin up centralized servers and databases in-house in order to index and query blockchain data”. This old centralized process, however, is more prone to risk and more time-consuming compared with The Graph technology in which “applications only need to reference an API endpoint for a subgraph to begin querying data”.
Subgraphs can be composed into a global graph of all the public information. This data can be transformed, organized and shared across applications, enabling users to make a search using GRT tokens.
The GRT coin is locked up by what are called delegators and indexes on the platform in order to provide services to the network.
While the project’s offering is interesting, how does it impact the Graph price prediction for 2022? Or even The Graph price prediction for 2030?
Let’s first look at the recent performance of the Graph coin…
Recent performance of GRT coin
The GRT coin rose immediately after launch, surging from $0.2599 on 18 December 2020 to $2.3465 on 13 February 2021. GRT coin subsequently fell to $1.3413 on 25 March 2021, before rising again to $2.1073 on 15 April 2021. In June, the coin price dropped to $0.5063 on 21 June before making a partial recovery in the following months, reaching $1.0723 on 22 August 2021. Volatility set in soon after, with the GRT price dropping back down to $0.6288 on 28 September 2021. Despite rising again at the tail end of 2021, reaching $1.2089 on 9 November 2021, the price has since swung to lows of $0.3594 as of 24 January 2022.
According to Coin Gecko, GRT has lost more than 44% in value in the past 30 days, more than a third in the past 14 days and more than 30% in the past year.
GRT has a maximum supply of 10 billion and a current circulating supply 5.25 billion GRT coins. The Graph has a market cap of $2.02bn and is ranked number 58 on the Coin Gecko platform.
How does this information impact The Graph price prediction?
Let’s look at what the experts think.
The Graph coin price prediction: Expert opinion
Predictions can be helpful as an indicator of which direction the price may move. But they should be viewed as possibilities rather than absolutes.
With this in mind, let’s look at some GRT price predictions.
WalletInvestor thinks The Graph could decrease to $0.03069 in one year’s time. As a result, the platform does not think it is a good investment.
Gov.capital thinks that the The Graph price prediction for 2023 will be $1.467.
DigitalCoinPrice thinks that The Graph could be worth $0.5825 in 2023 before increasing to $0.5977 in 2024. The website’s The Graph price prediction for 2025 stands at $0.7801.
Despite a poor coin performance over the past year, the protocol has a number of strengths that could help to push the price up in the future. The coin has a solid market cap and has a lot of interesting developments either in early stages or still in the pipeline.
Edge & Node, a software development company aiming to aid blockchain protocol development, was launched on the protocol’s platform in early 2020. Developed by the same founders as The Graph, any successes for Edge & Node will by proxy have a positive impact on the coin’s price.
When examining prospects for the GRT price, it is work remembering that much of the promises and hype around Web3 are yet to materialise in any meaningful way. On its website, The Graph writes: “Open protocols will create transparency and opportunity, enabling anyone in the world to contribute their talents to a global economy.” Of course, while such statements sound exciting and beneficient, they largely remain an abstraction.
GRT has a maximum supply of 10 billion and a current circulating supply of 5.25 billion GRT coins.
The coin has lost significant value over the past year and does not seem to be recovering. Saying this, significant backing from major investors, as evidenced by recent successful funding round, suggests notable support for the crypto’s offering.
It could go up, however, the GRT coin could also go down.
Some experts think it will go up, but others think it will go down. However, it is always worth remembering that forecasts, especially long-term ones, should be viewed as indicators rather than absolutes.
Investing is a highly personal endeavour. Do your own research and try to keep up-to-date on any developments within The Graph ecoystem that could boost or dampen its prospects.
Remember, investing can be risky, and it is important never to invest more money than you can afford to lose.