The Ecosystem of Graph ($GRT) Expands Significantly
The Graph, a decentralized indexing protocol for querying networks like Ethereum and IPFS, is reportedly experiencing significant growth, according to a new study paper by Messari. According to the study, there were 618 active subgraphs on The Graph mainnet as of December 2022, a 25% quarter-over-quarter and a 151% annual rise.
Network of Indexers, Curators, and Delegators Expanding
The study paper also emphasizes The Graph’s growing community of Indexers, Curators, and Delegators. According to the research, Indexers, Delegators, and Curators all increased by 33%, 9%, and 2% respectively from one quarter to the next.
Revenue Increase
The Graph’s $GRT income from query fees increased by 66% from quarter to quarter and 6,228% from year to year in Q4 2022. The paper places a strong emphasis on the movement of subgraphs away from the hosted service and toward the decentralized network, which is a major area of interest for the The Graph community. The protocol’s ecosystem engagement and income from query fees are two additional important critical indicators that are predicted to increase as a result of this increase in subgraphs.
Future Prognoses
Despite the lack of certainty in the future, some analysts believe that the price of $GRT will surpass $1, which would represent a 7X increase from the current price. But it’s vital to remember that these forecasts are tentative and may come true in six months, 14 months, or even a year and a half.