This year has been quite an adventurous time for the Graph Token, as the token continues to move forward at a steady rate.
Graph’s History
Currently in the 51st spot of largest cryptos by market capitalization, the Graph token (GRT) started its adventurous journey at the start of the year. The token’s price was about $0.2 at that point of time. Then, as a couple of weeks passed, the token started to blow up quite a bit, ending up with a price high of nearly $2.8 by the mid of February.
However according to the statistical chart provided by CoinMarketCap, as the year progressed, the valuation of the started to lose its position and fell quite drastically, especially during the time of the month of May, where the price fell to about $0.6, pushing the token to back where it started.
Steady Performance
But despite the loss in price performance in the past few months, GRT has managed to maintain its presence in the crypto market with a steady price behavior. A lot of Investors have had their eyes on GRT and have been interacting with the developers that are working with the protocols, as the performance of GRT has proved to be quite notable.
Indexing Protocol
Analysts have managed to conclude that Graph is basically an indexing protocol that helps to query data for networks such as, Ethereum and many others. To help, understand the point here, we need to consider that the blockchain from the Ethereum Network is one of the most spread out sets of data that is helping to power up tons of projects and side networks that are built over the original chain and with the power of Graph’s indexing protocols, various developers can search through large datasets with some very trivial set of queries.
Boosting DeFi
The growing level of open-source potential that these type of indexing protocols highlights the ability to reorganize chains with query acceptance, that will not only bring new opportunities but will also help to boost the experience of Decentralized Finance applications. There are already quite several DeFi applications that are being hosted on this network and with the quality it provides, the Graph protocol seems to show a level of reliability that is unique among others and helps to uplift decentralized public infrastructure into the financial market.
