This year has been a tough sail for The Graph since May 2022, when the Terra/Luna implosion caused a cascade of bankruptcies, layoffs, and liquidations. Subsequently, the chain of unfortunate market and geopolitical events like the Russian invasion of Ukraine, U.S. inflation, and 3AC and Celsius insolvency, has also contributed to the downward pressure on the price of GRT.
With the recent massive downfall of the crypto market caused by FTX contagion, is it possible for The Graph to reclaim its all-time high in 2023? Continue with the article to learn about The Graph price analysis and prediction by Coinpaper.
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What is The Graph?
The Graph is an open data layer built on top of Ethereum that powers many DeFi applications, making it easier for developers to pull information and serve it to their users. The protocol gathers and analyses blockchain data before storing it into various indices, called Subgraphs, where it can be easily accessed by DApps through the use of queries written in GraphQL, a widely used language that was originally created by Facebook to collect data for a user's news feed. The protocol’s native token GRT is used to reward the work of users who help to process the data, and also entitles holders to vote on the network changes.
The Graph (GRT) price
Currently, The Graph Price is USD. GRT has a circulating supply of coins and a total supply of . If you are looking to buy or sell The Graph, Binance is currently the most active exchange.
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The Graph price prediction 2023
The current market sentiment is full of fear, uncertainty, and doubt (commonly known by the acronym FUD), as fears of FTX contagion mount. At the moment, it’s difficult to assess exactly how much damage has FTX collapse has done to the crypto industry, since some affected crypto companies may be already secretly insolvent due to highly leveraged positions, as we have seen in the aftermath of Terra's implosion.
According to our estimates, it will take months for the full scale of FTX bankruptcy to become clear, so the turning point for the crypto market won’t come before late Q1 to early Q2 2023, although for now, it seems that the industry has absorbed most of the damage.
Another market factor that should be taken into consideration is how successful will be the U.S. Federal Reserve’s efforts to curb inflation. For now, there is reason to believe that Fed is making some progress in its attempts to cool the overheating economy — on November 30, Federal Reserve Chair Jerome Powell announced it’s time to slow the pace of coming rate hikes, which immediately triggered a positive reaction from both crypto and equity markets.
Given the above information, one can easily guess that there will be a considerable divergence between bullish and bearish The Graph 2023 price predictions due to multiple unknown factors. For this reason, we estimate that the bullish scenario will see The Graph price at $0.302 to $0.351. On the flip side, a fading interest in the new meme coin may push the price of The Graph to $0.073-$0.056 lows.
The Graph price prediction 2024
In 2024, the global macroeconomic backdrop is likely to be more favorable to the crypto market, adding value to The Graph (GRT) and other cryptos. However, the possibility of black swan events similar to the collapse of FTX cannot be completely ignored.
Keeping this in mind, we foresee the price of The Graph to climb as high as $0.48, with the more distant prospect of reaching $0.63 in 2024. The bearish scenario is likely to see The Graph (GRT) trading between $0.12 and $0.09 in 2024.
The Graph price prediction 2025
Since it’s practically impossible to foresee what market factors will influence cryptocurrency prices in 2025, this part of our The Graph (GRT) price analysis and prediction is based on pure speculation and observation of The Graph historical price movements.
Our The Graph 2025 price forecast expects GRT to rally towards $0.96 and reach $1.02 by the end of the year. The bearish scenario would see The Graph at $0.72 to $0.56.
The Graph (GRT) price prediction 2026
Looking ahead four years, to 2026, Coinpaper's price prediction for The Graph is neutral. In 2026, we expect The Graph to reach at least $1.73 before climbing higher to $2.81. In case of a bearish scenario, The Graph may fall to $1.32.
Is The Graph (GRT) a good investment?
With continued developments taking place within The Graph ecosystem, its intriguing use case, strong community of developers, and established market position, GRT token can be a nice addition to your portfolio of Layer 1 blockchains. However, keep in mind that investing in any cryptocurrency carries a high degree of risk, so make sure to do your own research before putting your money into GRT token.
Bottom line
Are you ready to invest in The Graph? Very few if any analysts forecast its value going down to zero, although you can’t be sure these days, so make sure you always do your own research before making investment decisions. And keep in mind that cryptocurrency prices can be extremely volatile, so trading crypto always involves a high degree of risk.
You can buy GRT from many crypto exchanges, including Binance
Disclaimer: Coinpaper does not recommend that any cryptocurrency should be bought, sold, or held by you. Always conduct your own research and consult your financial advisor before investing in any digital asset.
FAQs
Who created The Graph?
The Graph was founded in 2018 by Yaniv Tal, Jannis Pohlmann and Brandon Ramirez, who previously worked together in numerous software startups that focused on creating API developer tools.
What was the all-time high for The Graph (GRT) ?
The all-time high price of The Graph is $ on 2021-02-12
